[GNC] GNC] Bank check - debit and credit?

ornd25 at tutanota.com ornd25 at tutanota.com
Thu Sep 19 18:17:26 EDT 2019


"a) ...Your purchase of one is just an asset transfer transaction. When and if used to pay an expense* that transaction would be debit expense and credit this asset. The reason I put the asterisk is often the bank check is needed to purchase an expensive asset (car, house, art work, etc.) so the debit side would be for some fixed asset,not an expense.
Michael D Novack"

This appears to be my answer. Some of my accounts are doing this... Cr checking, Dr assets:art?

If that's the case I can rid myself of the confusion of trying to use the Cash account.




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