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I'm not that familiar with the theory, in my case I just got started and now I'm used to it. Just to take the last example: 2021-03-20 Sprouts expe
by hiq 5y ago
I'm not that familiar with the theory, in my case I just got started and now I'm used to it. Just to take the last example:
2021-03-20 Sprouts
expenses:food:groceries $100
assets:cash $40
assets:checking
This means you took 140 from your checking account, withdrew 40 that you now have in cash, and spent 100 in groceries. Does that still make no sense?
- account-5 5y agoHonestly no. When I first read it I thought you'd spent 140 on sprouts which I thought was excessive, but each to their own. Even though you've explained it I'm still struggling to make sense of it. The 3 indented lines don't related at all in an intuitive manner at least for me.
- chromatin 5y agoUnderstandable, they are using transaction balancing / elision What they should be showing beginners is: 2021-03-20 Sprouts expenses:food:groceries $100 assets:cash $40 assets:checking $-140 How’s that?
- bokstavkjeks 5y agoI don't think the file format above is especially conductive to learning. In my experience, most people learn double-entry bookkeeping with T accounts; debit is on the left, credit is on the right, and total credit has to equal total debit. If you're interested, this seems like a fairly decent guide: https://www.open.edu/openlearn/money-business/introduction-bookkeeping-and-accounting/content-section-2.5 https://www.open.edu/openlearn/money-business/introduction-b...
- cagey 5y agoA possible source of confusion is that in this context, "Sprouts" is likely the name of a supermarket (not a type of food).