Comment by bvrmn
1 year ago
But signed amounts (instead of debit/credit) formula is a way easier.
Sum of entries of assets/liabilities accounts = Equity. Moreover assets and liabilities become one type.
1 year ago
But signed amounts (instead of debit/credit) formula is a way easier.
Sum of entries of assets/liabilities accounts = Equity. Moreover assets and liabilities become one type.
And single entry bookkeeping is even "easier". Doesn't mean it's a good idea.
Single entry is not easier. Every time it makes things horribly complex really fast. I don't understand your point.
That is why I sincerely hope this way takes over the debit/credit approach