Guys, this is funny because literally no one speaks like this. I've also been using GnuCash for years and never been confused like this before.
Stan Brown (using GC 4.14) wrote on 12/16/24 4:25 PM: > Assets and Expenses: Debit increases, credit decreases > Liabilities, Equity, and Income: Credit increases, debit decreases. This part is interesting. If this is how CPA's describe it, so be it. For us common folk we mostly only talk about Assets and Liabilities, and we talk about them backwards I guess! A credit to my bank account (asset) is money in, increasing the value. A debit decreases the value. Everyone knows that their "Debit" card takes "Funds Out" of their bank account and gives it to the grocery store or whoever we're paying. A credit to a liability like my credit card is money that's given back to us, it decreases the total liability or amount owed. It's "Funds In" to our account, regardless if it's a bank account (asset) or a credit account (liability)! Derek Atkins wrote on 12/16/24 1:57 PM: > I recommend you read the GnuCash documentation which goes into great > detail about this. I think I'll just remember that it's backwards instead! Thank you all for the insights! _______________________________________________ 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.
