> On 07/21/2024 3:29 AM PDT Fred Bone <f...@mandfb.me.uk> wrote: > > > On 20 July 2024 at 6:19, Nate Bargmann said: > > [...] > > Already GNC's column layout is opposite of the > > manual check registers I've been using for 40+ years and that leads to > > mistakes in one or the other for me so the last thing that is needed is > > more ambiguity. > > Eh? I was brought up to believe that "debits on the left, credits on the > right" has been an accounting standard since Adam was a lad. >
When you make a bank deposit, you debit your asset account, but the bank credits your deposit account on its books (a liability account for the bank). The shift from your books to the bank's books, from an asset account to liability account, from the left-hand side of the balance sheet equation to the right-hand side, is where the change in the normal balance took place. There are plenty of philosophical discussions about people who rely on the bank to keep their books, and there are other discussions about what reconciliation means and how closely your books should match the bank's records, and this especially seems to be a topic of discussion when someone claims there is missing money. _______________________________________________ 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.
