Here's something that always trips me up when I look into non professional software for double entry accounting (or more accurately, instructions around them).
It's been a long time, so I may be getting it wrong, but I do have some introductory information of accounting. And according to that, in a transaction such as salary received, the accounting would look something like:
Income: Salary - Credit
Assets: Checking - Debit.
The Golden rule/s that apply here (Debit the receiver, credit the giver)
However, looking at the tutorial, the example given is:
2022/01/01 Salary
Income:Salary:Acme (Debit Account)
Assets:Checking (Credit Account)
This is the opposite of what I expect, however, I see this all the time when looking at tutorials/information written by SW devs.
What am I missing or is everyone else just getting it wrong?
It's been a long time, so I may be getting it wrong, but I do have some introductory information of accounting. And according to that, in a transaction such as salary received, the accounting would look something like:
Income: Salary - Credit
Assets: Checking - Debit.
The Golden rule/s that apply here (Debit the receiver, credit the giver)
However, looking at the tutorial, the example given is:
2022/01/01 Salary
Income:Salary:Acme (Debit Account)
Assets:Checking (Credit Account)
This is the opposite of what I expect, however, I see this all the time when looking at tutorials/information written by SW devs.
What am I missing or is everyone else just getting it wrong?