#205 Withdraw money from account with dept

closed-invalid
nobody
None
5
2012-04-23
2012-02-06
No

I was wondering if it is ok to withdraw money from an account with less than zero cach in it (e.g. -10,0). The minus money means there is a dept there so it would be more correct if it was not allowed by the program.

Discussion

  • Stefano

    Stefano - 2012-02-07

    For MMEX, it definately is OK to withdraw money from an account with a zero balance. In the real world, banks show all positive numbers with qualifers such as CR ("Beining in the Black" or positive) and DR ( negative or "Being in the Red"). (This is what happens in Australia, don't know about other countries)

    For example: A Credit Card would start its life with a zero balance, then purchases are made as withdrawals (only Positive Numbers used) on the account. This would indicate a negative balance. This way the totals of how much money you actually have would be correct. This way a user can then quickly see if they have over spent on their credit cards.

    When accounts will always be negative, in the case of a mortguage, the account will be "In the Red" as it were for a long time. This is where the user can separate these accounts out by classifying them as "Term Accounts"

    As we pay of the credit card, we transfer money from other accounts to the credit card, as the overall balance will actually remain the same, but the balances in the accounts will reflect the correct amounts.

     
  • Stefano

    Stefano - 2012-02-07
    • status: open --> pending-invalid
     
  • Stefano

    Stefano - 2012-04-23
    • status: pending-invalid --> closed-invalid
     

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