[GNC] Multiple currencies in split tx

[Michael or Penny Novack]

On 7/2/2022 3:38 AM, Adrien Monteleone wrote:
> Starting from the source account is good practice no matter the type 
> of transaction.
>
> Since funds in double-entry have to 'come from somewhere' and 'go to 
> somewhere', by always entering the transaction in the source account, 
> you are always choosing the destination(s).
>
> Life is much less confusing that way. (yes, yes, before anyone else 
> chimes in, I know there are sometimes complicated transactions with 
> multiple sources...)
>
> Regards,
> Adrien 

"Since funds in double-entry have to come from somewhere ...." might be 
a trifle naive. There probably will be "funds" involved 99% of the time. 
But there will be exceptions. Like:

a) You receive a statement from you employer that you have an "imputed 
income" amount of $X.00  << the employer has paid the premium for your 
group term insurance (a common employee benefit) but the portion of the 
premium for the amount over $50,000 face value is considered income by 
Uncle Sam >> That would be a debit "life insurance premiums" and a 
credit "income"      This MAY be bit by bit on your payroll statements 
where the total income (including imputed) is greater then gross income.

b) Typical :journal transactions" like recording annual depreciation.

Michael D Novack