Re: [SQL-Ledger-users] Documentation?

[Terry C. <tc...@se...>]

On Tue, 6 Feb 2001, Thomas Sawyer wrote:

>  I understand your confusion. I never really have gotten my mind completely
> wrapped around Double Entry Bookkeeping. It seems very, very odd, to
> me. Buy, yes, Asset accounts are debited when they receive value. So
> 
> Don't even consider the meaning of the words Credit and Debit, they are
> quite relative. 

You are right. It pretty much means left(debit) and right(credit)
in relation to the balance sheet.

Our difficulty is that we spend our lives dealing with our personal
bank accounts where a credit means more money in the bank for me.
Credit - good, Debit - bad. We don't realize that it is quite properly
a credit from the bank's point of view - accounts payable to you and
me.

It took me some time, even after I had been using the
double-entry system, for it to "feel" right.



Terry.