account type credit card

[Wm]

In article <573377B9.8030605 at keywild.com>
Lewis Balentine <lewis at keywild.com> wrote:
>
> Pray tell what is special about a type "Credit Card" account?
> Why would a credit card not be the type "Liability"?

No reason other than it most often is, it is a convenience.

Before you head off down that "why! why?" route you might also want 
to notice that not all countries accounting conventions start with
Assets, Liabilities and Equities
they're all just conveniences for plus and minus transactions after 
all :)

If it doesn't suit you to use an account type don't, so long as you 
know account type freedom is (correctly?) only allowed in Equity.

Although very open and flexible in use GnuCash has a background 
that is reflected in the base 5 accounts familar to many if not all 
in a world where acccountancy reporting is becoming more 
standardised; not a bad thing in my POV as wild farm accounting is 
rarely helpful to many.

-- 
Wm