Post
Topic
Board Development & Technical Discussion
Re: nit picky accountant has probably insignificant critique of client terminology..
by
Ian Maxwell
on 03/05/2011, 02:50:37 UTC
Hm, this seems odd---I thought a credit was a balance increase on an expense or asset account, or a balance decrease on an income or liability account, so that (for example) buying lunch with a credit card is a debit to the credit card (liability) and a credit to, say, my dining account (expense). I'd think of bitcoins as an asset, so that an increase in balance should be a credit. It's a debit from somewhere, sure---in my case, usually "mining", an income account.

Is Gnucash using the terminology backward?