On Mon, 15 May 2000 21:24:58 PDT, the world broke into rejoicing as
Dave Peticolas <[EMAIL PROTECTED]> said:
> > To my understanding, that's only true if you're using a double-entry
> > ledger system. The statements I get from my bank, and from every credit
> > card I've ever had use a debit to mean a charge...money going out of the
> > account, and a credit for money flowing into an account. Thus the
> > terminology "deposits and other credits", and "checks and other debits".
> > I'm not an accountant, but I expect that the terms are still backwards.
>
> Surprise, you are using a double-entry ledger system :) That is, unless
> you are leaving all of your 'transfer from' fields blanks, all of your
> entries in checking account have a matching entry in an expense, income,
> etc. account.
>
> I suppose we could make the meaning of 'debit' and 'credit' configurable.
> It's really unfortunate that the informal meanings of the terms are exactly
> opposite the accouting meanings.
Blame the evil bankers.
They report things from their perspective that is exactly opposite
to yours.
--
Rules of the Evil Overlord #11. "I will be secure in my
superiority. Therefore, I will feel no need to prove it by leaving
clues in the form of riddles or leaving my weaker enemies alive to
show they pose no threat." <http://www.eviloverlord.com/>
[EMAIL PROTECTED] - <http://www.hex.net/~cbbrowne/lsf.html>
