Debits and Credits ... and Ledgers

[Koos Pol]

Op 20-01-2021 om 02:29 schreef pjfarley3 at earthlink.net:
> I would vote to use accounting standards where at all possible for the default, and always try to provide options for users to re-arrange columns.  It's just more friendly and inclusive that way.
>
> My bank statements have columns "Amount Subtracted", "Amount Added", and "Balance" in that order for checking and savings accounts.
>

+1 for having this as a user option.

I don't know if there are international standards for Subtracted/Added. 
In any case, I have the same order with my Dutch bank account.

Back to the question of OP regarding Debit/Credit:
Debit is a synonym for Asset (left side of the balance sheet), where 
Credit is a synonym for Liability (right side of the balance sheet). 
Contrary to popular belief these are NOT synonyms for plus and minus. As 
such I believe the Fool link OP was referring to is flawed and confusing.

Koos
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