On Fri, Oct 20, 2023 at 11:57 AM Michael or Penny Novack < stepbystepf...@comcast.net> wrote:
> On 10/20/2023 11:47 AM, Edwin Booth wrote: > > Thank you Michael. The ancient history of these terms is really > > interesting. I don’t really “get it” yet but I see the idea here. Very > > hard to set aside the use of credit and debit in the modern sense and > > use them in a very different way. Counter intuitive. > > Not exactly. The confusion over "modern sense" is something else. Thus > when R. Losey says: > > "It*IS* hard because the accounting use of debit/credit is different from > the common or colloquial usage of the words. In everyday usage, people tend > to use "debit" as a synonym for "decrease" and "credit" to mean "increase", > and that is NOT the case in accounting, as the tutorials helpfully > explain." > > .... No, the confusion is NOT because accounting use is different but > confusion over whose books are you looking at. We are sued to seeing > these "in reverse" on statements we from from the bank for our bank > accounts or credit card accounts because on those it is from THEIR point > of view, not ours. > I disagree; I've heard people in non-financial situations use "debit" to mean "decrease" and "credit" for "increase"; such as "His recent actions have credited his stock of goodwill " or "he owes me; I have a huge credit balance with him". But this is starting to get away from GnuCash. _________________________________ 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.
