In your example, one account is the savings account and the other would be something like "Income:Interest Income".
I'm a non-bookkeeper (though I have had an overview of accounting); unfortunately, the general language which we use has "debit" used to mean "to take away from" and "credit" meaning "to add to". I could learn the proper distinction, but I just turn off the formal terms. To me, the idea of double-entry just means that every transaction needs to balance... for example, a deposit to your checking account doesn't come out of thin air -- it's either a salary or a gift or a refund or something you sold: there has to be SOMETHING that it came from. I had to create a "balance adjustment" account, since when I cash a check, I add the cash to "Cash on Hand", but some of that money is private spending money for family members, and that isn't tracked, so I routinely have to update the "Cash on Hand" balance. On Mon, Feb 20, 2023 at 11:47 AM Abe Sternberg <abe.h.sternb...@gmail.com> wrote: > I have just started using Gnucash for my savings account, not much money > involved here, and wanted to enter my first transaction. Not being good > at double-entry bookkeeping, I have no idea what are the two off-setting > accounts. I imagine that I use income, but what is the other account? > > Thanks for your help to a dumb guy. > > Abe > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > 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. > -- _________________________________ Richard Losey rlo...@gmail.com Micah 6:8 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: 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.
