Deciding on whether you need to add or subtract numbers is nasty, cumbersome, and error-prone (if you do it by hand.) Hence, a method called one's complement (or $\boldsymbol 1$'s complement) was devised as works as follows:
The action of flipping the bits is called 'applying $1$'s complement' because $1$'s complement is $0$ (and vice versa.)
Example: The absolute value of $-5_{10}$ is $5$, so its sign & magnitude ("normal") representation in an 8-bit format is $00000101_2$. The $1$'s complement format simply asks to flip the bits: $11111010_2$. That's it!