On Sat, Oct 18, 2014 at 6:48 AM, o1bigtenor <[email protected]> wrote:
> Greetings > > On Sat, Oct 18, 2014 at 4:53 AM, Roland Tepp <[email protected]> wrote: > snip > >> I do have a credit card from my bank with a predefined credit amount on >> it. When I pull out money from the credit card, I decrease the amount of >> credit available and increase my liabilities. >> >> When I pay back more than I owe on this account, then I have just >> increased my credit by that amount. >> >> I have it set up as a liability account, but that does not show me how >> much credit I have on the card. >> >> What is the proper way of representing such accounts so that I could see >> how much I owe but also be able to see, how much credit do I have? >> > > When your balance in the liability account is negative you have credit > available. > (This is one of the joys of double entry accounting IMO.) > No, this is simply incorrect, you are confused. A Liabilities account in the Ledgerverse is habitually negative, but this does not imply that there is no credit remaining. If the balance of the account is -700 USD and the owner has a credit limit of 2000$ on his/her card, the amount of remaining credit available is 2000 - 700 = 1300 USD. > > Dee > > -- > > --- > You received this message because you are subscribed to the Google Groups > "Ledger" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. > -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
