[GNC] beginner bookkeeping question

[Adrien Monteleone]

That depends on your setting for Preferences > Accounts > Reversed 
balanced accounts.

The default is 'Credit Accounts' if I'm not mistaken.

So in that case, the more you owe, the more positive the liability 
balance will be.

If you set the preference to Income & Expense or None, then 'greater' 
liabilities will show as more negative.

This is strictly a personal preference with regards to how you think of 
the balance and what you 'normally' want to see.

Personally, I have it set to 'Credit Accounts' which means all balances 
for all accounts regardless of which side of the ledger, will normally 
appear as positive and thus a negative balance in any account is an 
indicator to me that the particular account is 'contra-balanced'. 
Depending on if it is supposed to be contra-balanced or not, tells me if 
I made a mistake somewhere.

Regards,
Adrien

On 1/5/23 6:19 PM, Simon Roberts wrote:
> Can I check an understanding? I have an account "Liabilities:CreditCard"
> 
> Assuming I owe them money, the balance of this would be positive, am I
> correct?
> 
> Thanks!
> Simon
>