On 2024-12-16 12:42, Chandler Sobel-Sorenson via gnucash-user wrote: > Debian Gnucash on 5.8 still, so sorry if this has been changed/fixed in > the new releases, but the language used in the headers for the Template > Transaction in the Scheduled Transaction Editor in regards to the money > direction is inconsistent and confusing in my opinion. For example, it > starts out by showing this: > > using "Funds In" and "Funds Out". However, when the cursor is moved to > enter the accounts used in the transaction and the amounts of the funds > going in and out, the headers change to use "Debit" and "Credit" > respectively:
Chandler, those are exactly right. The money in your bank accounts is assets to you. Increases to Asset or Expense accounts are debits, so Funds In is a debit amount. The money leaving your accounts, which reduces your balance, is a credit, so Funds Out is a credit amount. Here is the full list: Assets and Expenses: Debit increases, credit decreases Liabilities, Equity, and Income: Credit increases, debit decreases. > This seems backwards to me: I'd associate "Funds In" with "Credit" and > "Funds Out" with "Debit". This has caused me to enter several scheduled > transactions backwards. Is it something that should be corrected? You have learned from your bank that a credit _increases_ your account balance. And it does -- on the bank's books. The account that is an asset to you (money you _own_ ) is a liability to the bank (money they _owe_ to you). When you are keeping your own books, you need to use debit and credit from your point of view, which is exactly opposite to your bank's point of view. -- Stan Brown Tehachapi, CA, USA https://BrownMath.com _______________________________________________ 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.
