For completeness and posterity, that would be:
Dr. Assets:Bank
Dr. Expenses:Tax
Cr. Assets:Fund
If you're ever unsure as to what the 'formal' column labels would be,
you can always toggle Preferences > Accounts > Labels > Use formal
accounting labels while viewing a register in question. They toggle in
the view as you toggle the preference. (you don't need to commit the
preference first.)
Another easy to remember tip:
Debit is ALWAYS on the left
Credit is ALWAYS on the right
This coincides with the Accounting Equation:
Assets = Liabilities + Equity
and the expanded version:
Assets + Expenses = Liabilities + Retained Earnings + Income
Assets & Expenses (on the left of the '=') are increased via Debits
(left column)
Liabilities, Retained Earnings (Equity), & Income (on the right of the
'=') are increased via Credits (right column)
Because:
Debits = Credits
Hope that helps!
Regards,
Adrien
On 1/11/23 6:05 PM, R Losey wrote:
I apologize for not using "debit" and "credit" terms, but I'm not sure I'd
get them right.
_______________________________________________
gnucash-user mailing list
gnucash-user@gnucash.org
To update your subscription preferences or to unsubscribe:
https://lists.gnucash.org/mailman/listinfo/gnucash-user
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.
