A Conversation for The Basics of Double Entry Book-keeping
debit or debit
Sir Kitt Started conversation Feb 12, 2002
Is it me or is there something wrong with this line:
"The total of the debits equals the number of the debits, and so the accounts balance."
debit or debit
Geoff Taylor - Life's Liver Posted Feb 12, 2002
Well spotted.
That little blighter slipped through the entire review process. It was pointed out to me last week and although I asked for it to be corrected, such was not to be.
Of course it should read...
"The total of the debits equals the number of the CREDITS, and so the accounts balance."
Ho hum
debit or debit
Ashley Posted Feb 12, 2002
Well spotted indeed... you see Sam saw nothing wrong with this and so let it through - which may explain why he is busking as we speak at Covent Garden Tube
debit or debit
easilyPb Posted Feb 13, 2002
Ah, but what you did not mention is that it was invented by a mad medieval Italian monk, and is therefore impossible to get the debits and credits to balance unless you are a mad madieval Italian monk. Plus of course, I always get them mixed up (Are credits window side or door side?)
debit or debit
Geoff Taylor - Gullible Chump Posted Feb 14, 2002
Window....door.... I always get mixed up whenever I change offices.
Anyway, thanks to all for this thread; I was worried that Double Entry Book-keeping might make it to the "most ignored" list.
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easilyPb Posted Feb 14, 2002
This entry will not be forgotten!
We are not boring!
We have personalities!
And some of our jokes are really quite amusing!
We should start a campaign. Or a society. Or both. They seem very popular round here.
debit or debit
The_Real_Woodworm Posted Oct 19, 2003
I once heard an amusing accounting yarn. The trouble is, nobody ever knows what the punchline was, because they are asleep by then.....
debit or debit
MrTonyman Posted Jan 27, 2011
"The total of the debits equals the number of the CREDITS, and so the accounts balance."
surely - "The total of the debits equals the TOTAL of the CREDITS, and so the accounts balance."
debit or debit
BrownFurby Posted Feb 6, 2011
That makes more sense. Thank you for posting that correction.
h2g2 is a very unevenly edited guide and this part of it is probably not being updated at the moment.
I have brought it to the attention of those I think need to know so it can be looked at.
debit or debit
BrownFurby Posted Feb 16, 2011
Well I hope no-one has been using the incorrect information over the last 9 years to actually balance their books or anything.
Perhaps they have and this goes some way to explain the sorry state of our economy.
Anyway I did track down those with the power to make changes and they were most helpful and it has now been corrected.
Key: Complain about this post
debit or debit
- 1: Sir Kitt (Feb 12, 2002)
- 2: Geoff Taylor - Life's Liver (Feb 12, 2002)
- 3: Ashley (Feb 12, 2002)
- 4: Geoff Taylor - Life's Liver (Feb 12, 2002)
- 5: easilyPb (Feb 13, 2002)
- 6: Geoff Taylor - Gullible Chump (Feb 13, 2002)
- 7: easilyPb (Feb 13, 2002)
- 8: Geoff Taylor - Gullible Chump (Feb 14, 2002)
- 9: easilyPb (Feb 14, 2002)
- 10: Geoff Taylor - Gullible Chump (Feb 14, 2002)
- 11: easilyPb (Feb 14, 2002)
- 12: Geoff Taylor - Gullible Chump (Feb 14, 2002)
- 13: easilyPb (Feb 14, 2002)
- 14: The_Real_Woodworm (Oct 19, 2003)
- 15: MrTonyman (Jan 27, 2011)
- 16: BrownFurby (Feb 6, 2011)
- 17: BrownFurby (Feb 16, 2011)
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