On 1/5/19 1:53 PM, Adrien Monteleone wrote: > Nothing counter-intuitive about it. It’s a matter of perspective.
And remembering. I have to ask my wife each and every time -- even when I wrote my earlier reply! I'm thinking I need to hang a sign on the wall: DEBITS: Assets, Expenses CREDITS: Liabilities, Capital/Equity, Revenue Debits on the left side. Credits on the right side. Right side is toward the Kitchen! That last piece is just for me. Your kitchen might be someplace else. That just keeps me from picking the other right side. --Steve > > People are used to hearing the bank telling them that putting money in their > account is a ‘credit’ to their account. That’s correct for the bank, because > your account is their liability. Increasing a liability is done with a credit. > > But in your books, that account is an asset, which is increased by a debit. > > Regards, > Adrien > >> On Jan 5, 2019, at 10:57 AM, Michael Hendry <hendry.mich...@gmail.com> wrote: >> >>> On 5 Jan 2019, at 16:41, Mike Kerstetter <mkerstette...@gmail.com> wrote: >>> >>> Hello all. I'm brand new to gnucash. I want it to do just the basics of >>> keeping a register and reconciliation of a couple bank and credit card >>> accounts. I had Money Sunset Deluxe and currently have Quicken (which is >>> now charging a yearly subscription). I'm muddling through setting up my >>> accounts and I am baffled at the seemingly backward credit and debit >>> columns in the register. A deposit to my Checking (or payment to my credit >>> card account) shows up under "DEBIT" and a charge to my accounts shows up >>> under "CREDIT". The balance is correct. Am I doing something wrong in my >>> set-up? >>> >>> Thanks, >>> >>> Mike Kerstetter >> Hi, Mike. >> >> Welcome to gnucash, and to the mysterious world of double-entry bookkeeping! >> >> No, you haven’t made a mistake, cash received by an account is regarded as a >> debit and cash paid as a credit. >> >> I’m not an accountant and I frequently have to chant “Debit the Receiver” to >> remind myself how it goes. >> >> No doubt one of the experts in the forum can point you in the direction of >> an explanation of this counter-intuitive situation, or you could try >> Googling. >> >> Michael >> >> >> >> _______________________________________________ >> gnucash-user mailing list >> gnucash-user@gnucash.org >> To update your subscription preferences or to unsubscribe: >> https://lists.gnucash.org/mailman/listinfo/gnucash-user >> If you are using Nabble or Gmane, please see >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. >> ----- >> 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 > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. -- Stephen M Butler, PMP, PSM stephen.m.butle...@gmail.com kg...@arrl.net 253-350-0166 ------------------------------------------- GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
