Ya I forgot to Reply All! Using your examples -
If I bought a tractor, I would Debit an Equipment account and Credit my Cash asset account? > On Dec 14, 2017, at 4:23 PM, Alex Aycinena <alex.aycin...@gmail.com> wrote: > > > >> On Thu, Dec 14, 2017 at 2:10 PM, Jack Slater <theillini...@gmail.com> wrote: >> How could that be? I’m paying from Checking. That’s a debit is it not? If >> not then everything I’ve learned in 59 years is wrong! >> >> On Dec 14, 2017, at 4:08 PM, Alex Aycinena <alex.aycin...@gmail.com> wrote: >> >>>> >>>> ---------- Forwarded message ---------- >>>> From: Jack Slater <theillini...@gmail.com> >>>> To: stepbystepf...@dialup4less.com >>>> Cc: gnucash-user@gnucash.org >>>> Bcc: >>>> Date: Thu, 14 Dec 2017 14:51:19 -0600 >>>> Subject: Re: New User to GnuCash >>>> I think I'm getting that understanding a little bit. Thanks! >>>> >>>> Debit Checking Account - Credit Rent - paying a bill and knowing why (even >>>> though in my Quicken mind the Rent account is just a category) >>>> >>>> I found a Transfer transaction on the tool bar that accommodates the type >>>> of transfer I am used to, i.e.: >>>> >>>> Debit Checking Account - Credit Visa Account - paying a bill >>>> >>>> In a perfect world, I'd sure like to use GC the same way. Maybe with all >>>> the help and usage I'll get there. >>> >>> >>> Except that your debits and credits are backwards in your two examples. >>> >>> Alex > Always keep the conversation on the users-list please, as I've done on this > reply. That way everyone, including other new users, can see the whole > conversation. > > Debits increase assets and expenses and decrease liabilities. equity, and > income. Credits increase liabilities, equity and income and decrease assets > and expenses. > > You may be confused because when a bank increases your checking account they > call it a 'credit', because it is: on their books you account is a liability, > not an asset. But on your book, it is exactly opposite. > > This is all explained in the Help and Concept Guide documentation which, I > believe someone else already suggested you read. > > Alex _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
