As Doug says, it's simpler than it sounds.
Unearned Revenue, or Accounts_Receivable is an asset not a liability, so
you should reflect it as that.
Costs of Goods Sold normally refers to the value of your stock or
produced goods, so that would be also an asset in my opinion.
But I am not sure you want to complicate things like that.
Regarding your question about an example, you have quite a few in the
ledger documentation <http://www.ledger-cli.org/3.0/doc/ledger3.html>.
In order to provide you with a better answer, I would need more detailed
info about what you want to do and how you want to report things into
your accounting system.
Regards, Stefan
El 07/05/15 a las 18:36, Douglas Philips escribió:
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
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