On 11/21/2024 5:39 PM, David Cousens wrote:
Boniforti,
The entries to record the sale of the instrument would be
Asset:Checking Account Dr 1214.00 EU
Assets:Current Assets:Music Equipment EUR:Korg MS-20M Cr 800.00 EU
Expense:Shipping Cr 35.49 EU
Income:Instrument Sales Cr 378.51 EU
NO ---- Income is a credit (cr) but the expense a debit (db) And you
paid for this shipping somehow
If it helps you to remember, the fundamental type of both income and
expense is equity and the sense of equity is credit. Income is an
increase (more credit) and expense a decrease (opposite sense of credit
is debit)
Michael D Novack
_______________________________________________
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.
