Re: Re: Accounting Schema

Ian Harding wrote:
>Credits are positive, debits are negative. I have never seen an accounting
>package that did not follow this basic rule.

It's the other way round. To help remember:

debit = "He owes" and represents an asset or an expense
credit = "He trusts [to be repaid] for" and represents a liability or a
receipt.

Since debits are assets, they are naturally represented by positive sign.

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Oliver Elphick Oliver(dot)Elphick(at)lfix(dot)co(dot)uk
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