[GNC] Liabilities vs Expenses.

[Griffin]

I'm no accountant, so I'm wondering what the difference is between 
liabilities and expenses, and the importance of that difference.

I currently have GnuCash set up so that everything I spend is an 
expense. Would it be "better" to have the recurring bills as 
liabilities, i.e. rent, utilities, etc. If that is the case, would I 
place a debt onto the liability at the statement date, and then payment 
when I make a payment.

Does it really make any difference to anything?

Thanks

Griffin


-- 
This email has been checked for viruses by Avast antivirus software.
www.avast.com