Bob This will surprise you but the transaction is
Asset:Bank account Debit xxxx Equity:Opening Balances Credit xxxx The basics section of the Tutorial and Concpets Guide has an introduction to the use of the terms debit and credit in accounting practice. The main thing to remember is these are reversed in your books from the bank's use of them on statements as those statements are issued by them from their accounting perspective. Your bank account is a liability for a bank as they have to be able to come up with the money if you demand it. Likewise your credit card is an asset in the bank's accounting system but a liability in your books. David Cousens On Thu, 2025-01-09 at 18:00 -0600, bullish bob bagley via gnucash-user wrote: > please keep it simple....Thank you...b³ > _______________________________________________ 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.
