https://www.gnucash.org/viewdoc.phtml?rev=5&lang=C&doc=guide
David T. On Jan 10, 2025, 3:38 AM, at 3:38 AM, David Cousens <davidcousen...@gmail.com> wrote: >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. _______________________________________________ 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.
