[GNC] Need help with a Savings account

[John Clark]

> On Apr 15, 2019, at 4:10 PM, Adrien Monteleone <adrien.monteleone at lusfiber.net> wrote:
> 
> I wrote a longer reply, but let’s get this out of the way first:
> 
> What makes you think ‘losing money’ = ‘debit’?

Because these terms ‘never make sense’, as seen by this example. It is far more simpler to just say, money coming in, on the left, money going out on the right… or is the other way around...

I will of course note that I was kicked out of highschool accounting class for this and a few other reasons, namely I could give a rats ass about a few cents of difference between the right and left columns, whatever the convention.

In the case of the bank, when I put money into ‘my’ account that is an increase, and when the bank, at least in the olden days of savings accounts, put in interest, again an increase from my perspective, and hence a credit to that account for the bank’s ‘use’ of the money.

And if I dispatch dealing with banks, I sure don’t ‘owe’(debit) a cookie jar to store my cash, and when I take money out, it sure is no ‘credit’ to the cookie jar.


> 
> 
> Regards,
> Adrien
>> 
>> Hi Adrian,
>> 
>> So, when I deposit something to the bank, I am actually
>> losing money (giving it to someone else), so it is a debit?
>> 
>> So I should switch my opening balance to a negative number?
>> 
>> I think I might be going insane.  :'(
>> 
>> Thank you for all your patience with this!
>> 
>> -T
> 
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