Good day, I've got just newly involved in both accounting and ledgersmb, so I'm afraid this won't be my last posting to this list :)
For a farm that's growing rice among other products I'm trying to set up an accounting system and I chose for LedgerSMB. So here's the deal: For the preparation of seedlings, somebody is plowing a seedbed where the seeds will be sown for later transplantation in the rice field. For this I created the account: 1. 5220 cogs/madboat seedbed As I understand from my newly acquired knowledge about accounting, things that add to assets are 'debited' and items/money that go out of the system are 'credited' in the books. So I was considering entering the following in the general ledger: Department: rice field 1 Project: first cropping 2010 account debit credit 5220 400 2100 400 but I'm afraid this doesn't make sense, because whenever I push the 'update' button, it adds a new line with account nr. 1010 in the transaction window. I was thinking along the line: plowing (5220) costs money (400) so that's put on the credit side, accounts payable (2100) will increase the liabilities (400) so that's also put on the credit side. However, I don't think an entry like this will balance. Any suggestion will be welcome (the bill is not yet paid). ario ------------------------------------------------------------------------------ ThinkGeek and WIRED's GeekDad team up for the Ultimate GeekDad Father's Day Giveaway. ONE MASSIVE PRIZE to the lucky parental unit. See the prize list and enter to win: http://p.sf.net/sfu/thinkgeek-promo _______________________________________________ Ledger-smb-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
