Basic concept question on "Basic Accounting Equation"

[Duncan Thomson]

OK, thanks for all the help.  I'm going to persevere working my way through
the gnucash tutorials.  I expect that it'll all become clear once I get used
to it.

On Thu, Feb 25, 2010 at 4:27 PM, Jeff Kletsky <gnucash at allycomm.com> wrote:

> Eeep! "Another  senseless ramen-related death..."
>
>
> On 2/25/2010 12:59 PM, Jeff Kletsky wrote:
>
>> With a sign-reversed UI, my day-to-day equation is more like
>>
>> assets - liabilities = income - expenses = how well I'm doing
>>
>> Earn money? I move money into an asset (bank) from income
>>
>> Spend money? I move money from an asset into an expense.
>>
>>
> The intent there was
>
> assets - liabilities (or) income - expenses (is) how well I'm doing
>
> also
>
> * Buy on credit? I move money from a liability to an expense
>
> * Pay my credit card? I move money from an asset to a liability
>
> * Get charged interest? I move money from an expense into a liability
>
> (see where the signs can get wonky? -- GNUCash can shield you from all
> that)
>
>
>
> Never try to write emails on a cell phone with ramen splatters on your
> glasses.
>
> $17.52 from Assets:Current:Cash to Expenses:Dining:Lunch:Jeff
>
> back to your regularly-scheduled programming...
>
> ...from the land of expensive ramen.
>
>
>
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