On 5/7/15 12:15 PM, Kev Lau wrote: > Hi Stefan, > Thanks for your input. > Yes I am trying to limit to 5 accounts. Expenses,Revenue,Assets,Liability and > Equity. > About positive and negative, I am still little confused so will go back to > reading more on Debit and Credit systems. i think I need help there. > Yes. I should have first a Liabilities:Unearned_Revenue: before going to the > Expenses:CostofGoodsSold. > > I think I will familiarize myself with positive and negative accounts.
It might be simpler than you think. My big "AHA" was when I really got that it was really reall simple. Money/goods/(whatever you are tracking) goes from one place to another. In order to "leave" an account, you have a negative amount. In order to "arrive" in an account, you have a positive amount. In each entry, all the leaves and arrives have to sum up to 0. Money doesn't "come out of thin air" or "appear from nowhere". My income accounts are all negative because I don't track where my employer, etc. gets their money from. It seems weird at first, but it's simple. Hope this helps (at least a little). -=Doug -- --- 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.
