>Date: Sat, 27 Jan 2007 13:26:57 -0600 >From: Josh Powell <[EMAIL PROTECTED]> >Subject: Re: documentation error >To: [email protected] >Message-ID: <[EMAIL PROTECTED]> >Content-Type: text/plain; charset=US-ASCII; delsp=yes; >format=flowed > >Okay...I see the explanation in 3.1. I still don't like it, but am >willing to not call it an error, and agree to disagree. Sorry for >the WOB. > >JP > >--- >Josh Powell >[EMAIL PROTECTED] > > > >On Jan 27, 2007, at 1:15 PM, Josh Powell wrote: > > > Hello- > > > > Section 2.2 "Data Entry Concepts" of the user's guide has an > > error. This sentence: > > "Observe that we have one entry for depositing (debiting) the > > Expense:Groceries account, and one entry for withdrawing > > (crediting) from Assets:Checking Account." > > > > confuses debit and credit. Debit is a withdrawal, credit is a > > deposit. > > > > Thanks for a great project and especially impressive documentation. > > > > Josh > > > > --- > > Josh Powell > > [EMAIL PROTECTED] > >
The use of debit and credit in this text is correct from an accounting point of view; however the use of the term "depositing" with an expense account is not good usage, at least in English. A debit to an expense account is a "charge" to the account. A better way of saying it would be: "Observe that we have one entry for charging (debiting) the Expense:Groceries account, and one entry for withdrawing (crediting) from Assets:Checking Account." Josh - you may be thinking that a "credit is a deposit" because when you deposit money in your checking account, the bank "credits" your account - that is true in their books but not in yours. They credit your account because your account is a liability in their books - they owe you that money. But it is an asset in your books - sort of like a receivable from the bank - so you have to debit the asset to increase its value. The opposite holds for a withdrawal. Alex Aycinena _________________________________________________________________ Get in the mood for Valentine's Day. View photos, recipes and more on your Live.com page. http://www.live.com/?addTemplate=ValentinesDay&ocid=T001MSN30A0701 _______________________________________________ gnucash-devel mailing list [email protected] https://lists.gnucash.org/mailman/listinfo/gnucash-devel
