Hi Kevn, On Thu, 07 May 2015 12:52:15 -0700, Kev Lau <[email protected]> wrote: > > Hi > This is what I think is correct. Read the ledger manual and some pretty > good explaining there. > > Assets will be in negative . Will keep reading to figure things out.
No, this is not correct. Accounts seem to dislike negative numbers, so they deal with debits/credits to work around them. We are OK with them so we don’t. Typically in ledger-land your chart of accounts will be: Assets: positive Liabilities: negative Income: negative Expenses: positive Equity: negative Note how this corresponds with: http://en.wikipedia.org/wiki/Debits_and_credits#The_five_accounting_elements Here is how money is *typically* moved (for a personal user, not a business): -Equity +Assets (starting balance) +Expenses -Assets (spending your money) +Expenses -Liabilities (spending on credit) -Assets +Liabilities (paying your bills) -Income +Assets (getting paid) Hope that helps. best, Erik -- Sent from my free software system <http://fsf.org/>. -- --- 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.
