On Thu, Dec 14, 2017 at 2:10 PM, Jack Slater <theillini...@gmail.com> wrote:
> How could that be? I’m paying from Checking. That’s a debit is it not? If > not then everything I’ve learned in 59 years is wrong! > > On Dec 14, 2017, at 4:08 PM, Alex Aycinena <alex.aycin...@gmail.com> > wrote: > > >> ---------- Forwarded message ---------- >> From: Jack Slater <theillini...@gmail.com> >> To: stepbystepf...@dialup4less.com >> Cc: gnucash-user@gnucash.org >> Bcc: >> Date: Thu, 14 Dec 2017 14:51:19 -0600 >> Subject: Re: New User to GnuCash >> I think I'm getting that understanding a little bit. Thanks! >> >> Debit Checking Account - Credit Rent - paying a bill and knowing why (even >> though in my Quicken mind the Rent account is just a category) >> >> I found a Transfer transaction on the tool bar that accommodates the type >> of transfer I am used to, i.e.: >> >> Debit Checking Account - Credit Visa Account - paying a bill >> >> In a perfect world, I'd sure like to use GC the same way. Maybe with all >> the help and usage I'll get there. >> > > > Except that your debits and credits are backwards in your two examples. > > Alex > > Always keep the conversation on the users-list please, as I've done on this reply. That way everyone, including other new users, can see the whole conversation. Debits increase assets and expenses and decrease liabilities. equity, and income. Credits increase liabilities, equity and income and decrease assets and expenses. You may be confused because when a bank increases your checking account they call it a 'credit', because it is: on their books you account is a liability, not an asset. But on your book, it is exactly opposite. This is all explained in the Help and Concept Guide documentation which, I believe someone else already suggested you read. Alex _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org 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.
