* Taylor R Campbell <[email protected]> [2019-08-14 21:04]: > ; hand-written ledger entry > account Liabilities:Bank:Cheque:123 > 2017-01-31 Landlord > Expenses:Rent $750.00 > Liabilities:Bank:Cheque:123 > > ; automatically generated by bank2ledger script > 2017-02-25 Bank statement > Liabilities:Bank:Cheque:123 $750.00 > Assets:Bank
This works fine for personal accounts where you can do whatever works best for you instead of following official accounting practices. This won't work for a business, however. Cheques are treated as immediate cash expenses: when you write a check, the money immediately gets deducted (in your books), even though in reality it only gets deducted from your bank account when the person deposits the check. That's (one reason) why businesses do bank reconciliations at the end of the month where they compare their books with their actual bank balances and account for the differences (undeposited checks get added to the balance from your book to match the bank balance). -- Martin Michlmayr https://www.cyrius.com/ -- --- 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]. To view this discussion on the web visit https://groups.google.com/d/msgid/ledger-cli/20190831185916.GF1819%40jirafa.cyrius.com.
