Debit vs. Credit for bank (inconsistency with what I see on bank website)

[David Carlson]

For more information refer to chapter 2 of the gnuCash user guide and
search for information on the Internet.

David CC

On Wed, Nov 30, 2016 at 9:49 AM, Buddha Buck <blaisepascal at gmail.com> wrote:

> To you, the money in your bank account is an asset -- something you own. As
> such, to you, deposits are debits, withdrawals are credits.
> To the bank, the money in your bank account a liability -- something it
> owes you. As such, to you, deposits are credits, withdrawals are debits.
>
> Your bank statement is showing you their books from their point of view,
> which is backwards from your point of view.
>
> This is normal and expected.
>
>
> On Wed, Nov 30, 2016 at 10:38 AM replicon <replicon at gmail.com> wrote:
>
> > Hello,
> >
> > This is probably a really silly question, but I am having trouble finding
> > answers online.
> >
> > If I create a Bank account in GNUCash:
> >
> > * Deposit == Debit
> > * Withdrawal == Credit
> >
> > But if I log into my chase bank account, and filter so it only shows me
> > "Debit Transactions", then it only shows me withdrawals.
> >
> > So... which is it? Something is backwards somewhere, but it's not really
> > clear to me what...
> >
> >
> >
> > --
> > View this message in context:
> > http://gnucash.1415818.n4.nabble.com/Debit-vs-Credit-
> for-bank-inconsistency-with-what-I-see-on-bank-website-tp4687843.html
> > Sent from the GnuCash - User mailing list archive at Nabble.com.
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