Timeline for Question about double-entry accounting

6 events

when toggle format	what		by	license	comment
Oct 3, 2019 at 17:39	comment	added	chepner		You record what you know. You know that you are getting money from your employer; you don't necessarily know where your employer got that money, which is why you don't worry about having some transaction that shows the money being deposited into the salary account.
Oct 3, 2019 at 17:38	comment	added	chepner		I really don't understand what you are asking. The money comes into your account from somewhere; the salary account represents that "somewhere".
Oct 3, 2019 at 17:34	comment	added	Joshua Frank		So how is this represented in double entry accounting? Salary IS created money, with respect to my accounts, so how do I say it's a movement from one account to another?
Oct 3, 2019 at 17:01	comment	added	chepner		You have to draw the line somewhere, and that line is best drawn between "your" accounts and "their" accounts, rather than leaving your bank account unbalanced. (Though, it makes more sense if you have multiple sources of income that are all contributing to your bank account.)
Oct 3, 2019 at 16:51	comment	added	Joshua Frank		So why the advice to have a "salary account" to manage your finances?
Oct 3, 2019 at 16:25	history	answered	chepner	CC BY-SA 4.0