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I haven't used ledger, but it seems to be double entry accounting too. According to the example: 2015/10/12 Exxon Expenses:Auto:Gas $10.00
by captainmuon 6y ago
I haven't used ledger, but it seems to be double entry accounting too. According to the example:
2015/10/12 Exxon
Expenses:Auto:Gas $10.00
Liabilities:MasterCard $-10.00
whereas I would have something like:
2015/10/12 Exxon $10.00 MasterCard -> Gas
The idea would be that the form of the transaction doesn't allow you to screw up - it is neccessarily balanced because you only give the amount once. A bit like a typed language only allows well-formed programs to run.
- bokstavkjeks 6y agoModern accounting systems like most ERPs allow you to specify the account and offset account in one line. It pretty much like you describe and is the preferred method for simple entries with only two accounts. It gets a bit trickier when, for example, sales tax is involved where a simple example for a sale of $1.000 with 25% VAT would be: cr. revenues $800 cr. VAT patable $200 dr. accounts receivable $1000