Credits befroe debits
Mike or Penny Novack
stepbystepfarm at mtdata.com
Sat Jul 19 20:22:37 EDT 2014
It MIGHT make sense for this to be a gnucash option (with un numbered
transactions for the same date, either debits first, credits first, or
in order encountered).
It is NOT unusual for a bank, for example, in the fine print to which
you have agreed, have "credits first" or "debits first" specified for
your account with them. It can also be the case that gnucash (or any
other accounting package) would show a current account to be in
overdraft condition when the banks says it never was. As far as gnucash
is concerned, the money left the account when you wrote the check (that
transaction date) but it won't leave your bank account till the check
reaches the bank. AKA "float" when done intentionally.
Michael
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