Double Entry Accounting for Developers
From the site:"I found the core explanation of double entry accounting to be confusing. After some time I distilled it down to the following:"Debits decrease the value of an account. Always. [1]
Credits increase the value of an account. Always. [1]"[1] (1, 2) This is absolutely not what accountancy teaches. You’ll quickly see that there is a lot of wrangling over what account types get increased/decreased with a debit/credit. I’ve simplified this on the backend as I strongly feel this is a presentational issue, and not a business logic issue."I mean, this is just....wrong. Maybe I'm not smart enough to see why this isn't completely incorrect? I mean I feel mathematically this will work but goes against so many core accounting principles it won't have much use except in the simplest of cases.