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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