The statement from the credit card company is likely from THEIR point of
view. Just like the statement of your bank account you get from your
bank is from their point of view.
What you owe them is a credit in your books but a debit in theirs. What
money they owe you is a debit in your books and a credit in theirs.
Michael D Novack
PS --- It was once always positive amounts in double entry bookkeeping
(older than negative numbers were accepted in Western mathematics). The
senses are not positive and negative but debit and credit. Those senses
do not correspond (whether a debit is positive or negative depends on
what kind of account -- same with credit.
On 1/16/2025 2:22 PM, Tom Balazs wrote:
I just imported a bunch of credit card transactions from a CSV file. I
imported them into a liability credit card account, positive values, column
title "amount".
But they all the purchases / charge transactions went into the "payment"
column, not the "charge" column. All the other info imported fine.
Apparently I have to make those transactions either a negative value, or
the column title has to be "amount negated". Is that correct?
Tom
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There is no possibility of social justice on a dead planet except the equality
of the grave.
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