Double Entry History

[Mike or Penny Novack]

On 7/16/2017 11:58 PM, DaveC49 wrote:
> This is a bit off topic but for anyone with a historical interest in
> accounting "Double Entry" by Jane Gleeson-White (Allen & Unwin 2011) is an
> interesting read.
>
> David Cousens
I would not consider it a waste. And seeing what was involved back when 
it was pen and ink on paper AND what sorts of errors typical and what 
you had to do to find/correct them will give a better appreciation of 
what gnucash is automating for us. Plus what reports are still included 
but that you probably don't need << example: a "trail balance" was very 
important in the old days but I have never used one in gnucash because 
it won't make the sort of mistake that causes an OOB* >>

Most older accounting books form the latter pen and ink on paper days 
will describe "cashbook accounting" where a transactions affecting cash 
are not journalized first. Leaving just those NOT affecting cash 
(usually a rather small minority) to go through the full process << aka 
journal entries >> Essentially gnucash is doing this shortcut method for 
ALL accounts << but the virtual journal is available as a report >>

Michael D Novack

* It will place the offending item into Imbalance and that identifies 
the transaction.