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

Morgan Read mstuff at read.org.nz
Fri Jan 13 09:04:54 EST 2017


On 13/01/17 04:07, David T. wrote:
> 
>> On Jan 13, 2017, at 8:05 AM, Buddha Buck <blaisepascal at gmail.com
>> <mailto: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
> 
Thanks Peter, Buddha and David - I think I've got it sorted now.  David,
yes - I was half expecting a RTFM, so thanks for the pointer :-)

Morgan.
-- 
Morgan Read
United Kingdom
<mailto:mstuffATreadDOTorgDOTnz>

Confused about DRM?
Get all the info you need at:
http://drm.info/


More information about the gnucash-user mailing list