Fwd: Re: Paying Expenses

[Robert Graham Merkel]

On Sat, 21 Jul 2001 18:26:15 Leo L. Schwab wrote:
> On Sat, Jul 21, 2001 at 05:51:00PM +1000, Robert Graham Merkel wrote:
> > Because your bank statement uses credit and debit from the bank's point
> of
> > view, which is opposite to yours.
> >
> 	Nope, I still don't get it.  The bank is acting as my proxy,
> holding
> my money for me and issuing/collecting payments at my request.  So our
> points of view should be the same.  What am I missing?
> 

>From the bank's point of view, a positive balance in your account is 
their liability - the bank owes you money.


-- 
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Robert Merkel	                           rgmerk@mira.net

Go You Big Red Fire Engine
-- Unknown Audience Member at Adam Hills standup gig
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