Automatic Transactions

[gnucash at ew.ewheeler.org]

On Fri, 16 Jan 2009, Derek Atkins wrote:
> Hi,
> Quoting gnucash at ew.ewheeler.org:
>> This has always confused me.  I learned that the 'Tot Funds In/Out'
>> headings are acurate in the way that I understand the meaning.  To me,
>> "Tot Funds In"=="Credit Formula", however this is now how it is written.
>> Several times I have had the columns backwards and transactions debiting
>> where they should credit.
>> 
>> Is this (percieved) backwardness intended?  If so, can someone offer an
>> explanation of why the meaning changes when viewing vs. editing?
>
> The labels aren't backwards.. Your understanding of the labels is
> backwards because you learned from from bank statements.. which
> shows them from the bank's point of view, not YOUR point of view.
> A Credit to the bank is really a Debit to you..   Keep in mind that
> to the Bank your deposit is a Liability (whereas to you it's an Asset).

Wow.  Interesting point.  I had never thought of the account I place money 
into at the bank as the bank's liability; Certainly I am extending /them/ 
credit.  Thank you.

-Eric