liability accounts

Michael P. Soulier msoulier@storm.ca
Tue, 10 Apr 2001 21:54:47 -0400


    Hey people. I think I have everything set up now, except for one thing. 

    I currently have an outstanding balance on my student loan that I'm paying
off. So, I looked in the help files, and it states that this should be
represented by a liability account. So, I created one to represent my student
loan. I transferred the opening balance from my retained losses equity
account, and there was then a positive value in the liability account. This
looked fine to me. However, when I make a transfer from my bank account into
the liability account, the balance goes up instead of down. Not exactly what I
wanted. ;-)

    What am I doing wrong?

    Thanks,

    Mike

-- 
Michael P. Soulier <msoulier@storm.ca> 
"With sufficient thrust, pigs fly just fine. However, this is not necessarily a
good idea. It is hard to be sure where they are going to land, and it could be
dangerous sitting under them as they fly overhead." -- RFC 1925