Input by type of transaction

Input by type of transaction

When entering a transaction, the most confusing thing is the selection of left/right items. Date, item, memo, amount, etc. are just not difficult. However, the selection of items can be difficult because you have to think about the flow.

Frequent transaction types

If you don't know how to do double-entry bookkeeping about the left/right choice, it can hurt your head and get confused. However, if you actually use it, you can see that there is a certain pattern for the most commonly used transactions. Below are examples of left/right choices for frequently occurring trades. If you are not sure, you can just make a selection according to the table below.

Type left right
Generation of revenue
Assets +
Revenue
Incurred cost
Expense
Assets - 
Pay something with a credit card
Expense
Debt + 
Settlement of credit card payment
Debt - 
Assets - 
borrowing someone else's money
Assets + 
Debt + 
Repay someone else's money
Debt - 
Assets - 
Lend or receive my money
Assets + 
Assets - 
Account transfer, withdrawal, deposit
Assets + 
Assets - 
Set asset base amount
Assets + 
Capital + 
Set default amount of liabilities
Capital - 
Debt + 

Detailed explanation through examples

Let's see how to choose left/right with some examples.

Suppose you bought a hot dog on the street. Since it is related to food, the item was related to'food expenses', and the payment was made in'cash'. You can select'Food Expenses' and'Cash' from the items created by the user. I can't tell which one is left and which one is right, but it doesn't matter. You can select each one one by one, but if you try to select'Meal Fee', it is only on the left. On the other side (right) you have no choice but to choose'Cash'.

It is assumed that money came into the paycheck. It is related to profits, but there is a'salary income' item. And perhaps related to this will be the'main transaction passbook' which is an asset item. If you choose two items to choose from, you need to select the right and left as appropriate, but the'salary income' is only on the right. After selecting'Salary Income' on the right, only the left side remains, so the left side naturally becomes the'Main Transaction Account'.

In the two examples above, the choice was relatively easy because one was cost and one was revenue, and it only existed on either side. This time, let's assume the transaction is both an asset/liability.

It is assumed that you have withdrawn cash from your main account. You can see that the Main Transaction Passbook and Cash items are related. However, both items are on the left and on the right. If you look closely here, each item has a + and-sign next to it. In other words, as cash has increased due to the cash withdrawal event, Cash+ is selected on the left, and Main bankbook- is selected on the right.

Suppose you borrowed money from your friend, Cheol-soo. Cheolsu loaned me money by bank transfer, and the bankbook that the money came in is the'main transaction bankbook'. It is assumed that there is a'money to pay' item in the debt item. You can choose these two items according to your preference. Once the money has been borrowed, the Main Bankbook' has become +, so selectMain Bankbook+on the left, and since the amount of money to be paid has increased, selectPayback +` on the right.