[GNC] Trying to get started...

[DaveC49]

Edy,

GnuCash is a double entry accounting system. There is no "placing of money
from a POS under income and transferring it to the Cheque account". Each
transaction associated with a POS sale has two components one of which
increases the balance of the Cheque account (a debit to the Cheque account)
and a component which increases the balance of an Income account (a credit
to the Income account). Every transaction in a double entry accounting
system affects the balance of at least two accounts and has at least one
debit component and one credit component. For a single transaction the sum
of the debit components is equal to the sum of the credit components.
Thinking of these components as a transfer confuses the issue. There is no
transfer in your books but the transaction does correspond to the transfer
of funds from the customer to you.

I would suggest reading as much as you can on double entry accounting
systems (Wikipedia has quite a good explanation) and then read the Tutorial
and Concepts guide for GnuCash (https://www.gnucash.org/docs.phtml),
particularly Section 2.1 on Accounting Concepts.

Debits and Credits have a specific meaning in double entry accounting and
whether they increase or decrease the balance in an account depends upon the
type of account (Asset, Liability, Equity, income or Expense). See notes on
the Accounting Equation which defines the relationships between account
types. GnuCash offers an optional  Deposit/Withdrawal naming or the formal
accounting Debit/Credit naming.  

After going through the above material come back if you are still having
difficulty.

David



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David Cousens
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