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question about posting
- Subject: question about posting
- From: ario <..hidden..>
- Date: Wed, 09 Jun 2010 05:08:00 +0000
I've got just newly involved in both accounting and ledgersmb, so I'm
afraid this won't be my last posting to this list :)
For a farm that's growing rice among other products I'm trying to set up
an accounting system and I chose for LedgerSMB.
So here's the deal:
For the preparation of seedlings, somebody is plowing a seedbed where
the seeds will be sown for later transplantation in the rice field.
For this I created the account:
1. 5220 cogs/madboat seedbed
As I understand from my newly acquired knowledge about accounting,
things that add to assets are 'debited' and items/money that go out of
the system are 'credited' in the books.
So I was considering entering the following in the general ledger:
Department: rice field 1
Project: first cropping 2010
account debit credit
but I'm afraid this doesn't make sense, because whenever I push the
'update' button, it adds a new line with account nr. 1010 in the
I was thinking along the line: plowing (5220) costs money (400) so
that's put on the credit side, accounts payable (2100) will increase the
liabilities (400) so that's also put on the credit side. However, I
don't think an entry like this will balance.
Any suggestion will be welcome (the bill is not yet paid).