Re: Chart of Accounts

[justin <justin@xxxxxxxxxxxxxxx>]

because a credit account is a liability account aka a negative account so credit a credit account causes it to go UP not down.  Look a your bank statement it says Credit you $500 when you make a deposit  its a debit to you a credit to the bank in a credit account as its a liability to the bank.

to be way over general Credits are negative entries and Debits are positive entries. 

Another Way to think about it is Are you Exporting or Importing, it depends on which side of the equations you are on.  When ever i try to explain importing and exporting to the accountants its my sweet revenge :-). 

Isak Hansen wrote:

On Mon, Oct 13, 2008 at 2:57 AM, justin <justin@xxxxxxxxxxxxxxx> wrote:
  

[...]  Also you want to split out the debit and credits instead of
using one column.  Example one column accounting table to track values
entered how do you handle Crediting a Credit Account Type.  is it a negative
or positive entry???
    

How is crediting a credit account different from crediting any other account?

YMMV, but I think a single amount column makes for a more consistent design.