Debit/Credit vs. Deposit/Withdraw in Edit->Preferences [was Applying Scheduled Payment Kills Program]

[Dale Alspach]

Someone posted something like this to this list a while ago
as an easy way to remember:

Money flows from credit to debit.

Examples:

(money flows left to right in these)

Pay cash for a meal

credit account asset:cash and debit account expenses:food

Pay your credit card bill by check

credit account asset:checking and debit account liabilities:credit card

Get paid and deposit into checking

credit account income:job and debit account asset:checking

Buy a shirt using a credit card

credit account liabilities:credit card and debit account expenses:clothing

Dale Alspach