On 2/11/2019 2:40 PM, Christian Kluge wrote:
Hi,
my general rule of thumb is to always entering from an asset or
liability account.
The proper "general rule" for a (one side) split transaction is to
enter it from the side (debit or credit) that is NOT being split. That
this is most often either and asset or a liability account just the
consequence of that most often the side of the transaction not being split.
Starting with an account on the side of the transaction being split will
make entry almost as difficult as entering a transaction that is split
on both sides.
You need an example? Say you are paying for your share of an expense X
and the person you are sharing with allows you to pay part in cash and
owe the rest. You would begin this split from the expense account (the
credit side being split between cash (asset) and loan (liability)
Michael D Novack
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