Re: [SQL-Ledger-users] OT: Web-based Checking Software

[Terry C. <te...@wo...>]

Ron Pero wrote:
> 
> I could be wrong about this -- I'm not an accountant and do not use
> accounting software much -- but is it not an important principle that once
> you make an entry in a computerized accounting system, you do not allow it
> to be changed. If you want to cancel a previous entry, that cancellation is
> a new entry that just reverses the previous entry.

That is the way that it is done in the commercial programs that I am
forced to use.

Consider the case of sales, where there is a double entry.

Debit  Income from sale
Credit   Bank Account or Accounts Receivable
Debit  Cost of Goods Sold
Credit   Asset account for stock


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   Terry Collins {:-)}}} Ph(02) 4627 2186 Fax(02) 4628 7861  
   email: te...@wo...  www: http://www.woa.com.au  
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