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But signed amounts (instead of debit/credit) formula is a way easier. Sum of entries of assets/liabilities accounts = Equity. Moreover assets and liabilities b
by bvrmn 2y ago
But signed amounts (instead of debit/credit) formula is a way easier.
Sum of entries of assets/liabilities accounts = Equity. Moreover assets and liabilities become one type.
- FredPret 2y agoThat is why I sincerely hope this way takes over the debit/credit approach
- BlueTemplar 2y agoAnd single entry bookkeeping is even "easier". Doesn't mean it's a good idea.
- bvrmn 2y agoSingle entry is not easier. Every time it makes things horribly complex really fast. I don't understand your point.