Quoting Ed W <..hidden..>:
Can you perhaps explain how the "type" of account alters how the ledger gets handled? I think I might have used an asset or liability account for my penny tracker, but I guess this is incorrect and means that my income statement is not going to show it as I might expect?
I created a contra asset account, and 'paid' (debited) the penny into it, then I credited this account with a penny and debited the VAT account. This seems to have worked, but now I'm wondering if I didn't do Something Bad...
Cheers, Richard ---------------------------------------------------------------- This message was sent using IMP, the Internet Messaging Program.