Please bear with the 2367345836th newcomer :)
David Harrison
davidharrisoncga at gmail.com
Fri Jun 17 11:41:15 EDT 2005
On 6/17/05, Andrew Sackville-West <andrew at farwestbilliards.com> wrote:
>
>
> Paul Schwartz wrote:
>
> >
> > That's good except you have Db and Cr reversed [I
> > think].
> >
> > IANAA
> >
> > Paul Schwartz
>
>
> which will always plague this list for all eternity.
>
> I was going to differ with you here, but I realise that its not worth it
> as IANAA either and its just too much to watch two non-accountants
> argue. I'm sure that we could sell tickets to actual accountants for
> lurking on this list and laughing all the way to the bank...
>
> cheers
>
> A
I'll be the first to buy one, too!! lol
Here is a link to the Wiki where I explain (or at least attempt to)
the difference between Dr and Cr.
http://gnomesupport.org/wiki/index.php/GnuCashFaq#Q:_What_are_debits_and_credits.3F
Basically, increases in Revenues, Liabilities, and Equity are Credits.
While increases in Expenses and Assets are Debits. Decreases in each
are the inverse.
--
David Harrison, BAccS, CGA
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