New User to GnuCash

[Jack Slater]

Ya I forgot to Reply All! 

Using your examples -

If I bought a tractor, I would Debit an Equipment account and Credit my Cash asset account? 

> On Dec 14, 2017, at 4:23 PM, Alex Aycinena <alex.aycinena at gmail.com> wrote:
> 
> 
> 
>> On Thu, Dec 14, 2017 at 2:10 PM, Jack Slater <theilliniguy at gmail.com> wrote:
>> How could that be? I’m paying from Checking. That’s a debit is it not? If not then everything I’ve learned in 59 years is wrong!
>> 
>> On Dec 14, 2017, at 4:08 PM, Alex Aycinena <alex.aycinena at gmail.com> wrote:
>> 
>>>> 
>>>> ---------- Forwarded message ----------
>>>> From: Jack Slater <theilliniguy at gmail.com>
>>>> To: stepbystepfarm at dialup4less.com
>>>> Cc: gnucash-user at gnucash.org
>>>> Bcc: 
>>>> Date: Thu, 14 Dec 2017 14:51:19 -0600
>>>> Subject: Re: New User to GnuCash
>>>> I think I'm getting that understanding a little bit. Thanks!
>>>> 
>>>> Debit Checking Account - Credit Rent - paying a bill and knowing why (even
>>>> though in my Quicken mind the Rent account is just a category)
>>>> 
>>>> I found a Transfer transaction on the tool bar that accommodates the type
>>>> of transfer I am used to, i.e.:
>>>> 
>>>> Debit Checking Account - Credit Visa Account - paying a bill
>>>> 
>>>> In a perfect world, I'd sure like to use GC the same way.  Maybe with all
>>>> the help and usage I'll get there.
>>> 
>>> 
>>> Except that your debits and credits are backwards in your two examples.
>>> 
>>> Alex 
> Always keep the conversation on the users-list please, as I've done on this reply. That way everyone, including other new users, can see the whole conversation.
> 
> Debits increase assets and expenses and decrease liabilities. equity, and income. Credits increase liabilities, equity and income and decrease assets and expenses.
> 
> You may be confused because when a bank increases your checking account they call it a 'credit', because it is: on their books you account is a liability, not an asset. But on your book, it is exactly opposite.
> 
> This is all explained in the Help and Concept Guide documentation which, I believe someone else already suggested you read.
> 
> Alex