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@ -5,21 +5,21 @@
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</ARTHEADER>
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<SECT1>
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<TITLE> What are Incomes and Expenses?</TITLE>
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<PARA> </PARA>
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<PARA>The words "Income" and "Expense" are beguilingly simple;
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everyone <EMPHASIS>thinks</EMPHASIS> they know what they mean.
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<EMPHASIS>The money I get is income, the money I spend is
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expense</EMPHASIS>, right? Right! However, there are subtlties.
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The time that you make your income is ofen different than
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when you actually get the money: to ease the recording of these
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types of transactions, the concept of 'accounts payable' and 'accounts
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receivable' has been invented. Click on that link to go there.
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This ection deals with the more basic recording of incomes and expenses.
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everyone <EMPHASIS>thinks</EMPHASIS> they know what they mean.
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<EMPHASIS>The money I get is income, the money I spend is
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expense</EMPHASIS>, right? Right! However, there are subtlties.
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The time that you make your income is ofen different than when you
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actually get the money: to ease the recording of these types of
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transactions, the concept of 'accounts payable' and 'accounts
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receivable' has been invented. Click on that link to go there. This
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section deals with the more basic recording of incomes and expenses.
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</PARA>
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</SECT1>
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<SECT1>
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<TITLE> Recording Income and Expenses</TITLE>
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<PARA> </PARA>
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<PARA>In a double entry system, two kinds of accounts must be
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created: some of type "Income" and others of type "Expense."
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