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Simon Michael
2024-04-11 11:44:48 -10:00
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@@ -84,7 +84,10 @@ You'll see it written in different ways, eg:
You can check the accounting equation for your accounts by inspecting an ALE balance report You can check the accounting equation for your accounts by inspecting an ALE balance report
like [`hledger bse`](https://hledger.org/dev/hledger.html#balancesheetequity). like [`hledger bse`](https://hledger.org/dev/hledger.html#balancesheetequity).
(In personal accounting, an imbalance in the accounting equation isn't necessarily a problem, and most people don't bother checking it.) (In practice a balanced accounting equation isn't essential for personal accounting, and most people don't check it.)
- [Wikipedia](https://en.wikipedia.org/wiki/Accounting_equation)
- [Investopedia](https://www.investopedia.com/terms/a/accounting-equation.asp)
### What are balanced transactions ? ### What are balanced transactions ?
@@ -98,9 +101,6 @@ PTA apps and other double-entry bookkeeping software enforce balanced transactio
Note, balanced transactions does not imply a balanced accounting equation. Note, balanced transactions does not imply a balanced accounting equation.
Both of these can help detect errors, but balanced transactions is a higher priority. Both of these can help detect errors, but balanced transactions is a higher priority.
- [Wikipedia](https://en.wikipedia.org/wiki/Accounting_equation)
- [Investopedia](https://www.investopedia.com/terms/a/accounting-equation.asp)
### In english, should I call it Revenue or Income ? ### In english, should I call it Revenue or Income ?
"Revenue" is more often used in business, and more precise; "Revenue" is more often used in business, and more precise;