[GNC] Tutorial and Concepts

[Patrick James]

Generally using "credit cards" involves a liability account, not an asset account.


> On 11/23/2024 9:38 AM PST Phyllis Bruce <pobruce46 at gmail.com> wrote:
> 
> Whenever you spend money, you identify the source of the money (your bank
> accounts or credit cards or cash from your wallet.)  Those are your assets.
> You also identify what you spend it on and those are your expense accounts.
> You can usually identify one type of expense for each time you spend your
> money and that is called a transaction.  The money out will equal the item
> cost.