setting up mortgage liability and paying it off from a check account asset...

[David T.]

> On Jan 13, 2017, at 8:05 AM, Buddha Buck <blaisepascal at gmail.com> wrote:
> 
> I just tried toggling the "Reverse Balanced accounts" options myself.  This
> suggests (and looking at my gnucash xml file corroborates) that GnuCash
> internally treats debits as positive and credits as negative. So after
> setting "reverse balanced accounts" to none, I get positive (debit)
> balances in assets, and negative (credit) balances in liabilities. This
> also indicates I've received a total negative salary, etc.


Note: GnuCash follows accounting practice in using the terms “Credit” and “Debit.” See:

https://www.gnucash.org/docs/v2.6/C/gnucash-guide/basics-accounting1.html#basics-accountingdouble2 <https://www.gnucash.org/docs/v2.6/C/gnucash-guide/basics-accounting1.html#basics-accountingdouble2>

David