G
Geo
What accounting system does Money use, and how does it work?
I learned the basics of accounting about 20 years ago. A college kid
taught me double-entry bookkeeping. It took him about an hour to
explain it. The system is simple, elegant, and powerful; I've been
using it ever since.
Fast forward to 2007. I'm looking for the first time at personal
accounting software. The first thing I noticed about Microsoft Money is
that it does not use the double-entry bookkeeping system. There is no
evidence of credits and debits. I can't figure out how to make an
income or an expense account. Ledger pages are inconsistent, showing
different columns depending on the "type" of account. All-in-all, it is
not what I've been taught to expect in an accounting system.
Obviously, Microsoft has chosen not to use double-entry bookkeping in
Money. That's okay; I don't mind change. My question, however, is this:
What system does Microsoft Money use? Does it have a name, a
theoretical foundation, and a track-record, or is Microsoft just making
it up as they go along?
-Geo
I learned the basics of accounting about 20 years ago. A college kid
taught me double-entry bookkeeping. It took him about an hour to
explain it. The system is simple, elegant, and powerful; I've been
using it ever since.
Fast forward to 2007. I'm looking for the first time at personal
accounting software. The first thing I noticed about Microsoft Money is
that it does not use the double-entry bookkeeping system. There is no
evidence of credits and debits. I can't figure out how to make an
income or an expense account. Ledger pages are inconsistent, showing
different columns depending on the "type" of account. All-in-all, it is
not what I've been taught to expect in an accounting system.
Obviously, Microsoft has chosen not to use double-entry bookkeping in
Money. That's okay; I don't mind change. My question, however, is this:
What system does Microsoft Money use? Does it have a name, a
theoretical foundation, and a track-record, or is Microsoft just making
it up as they go along?
-Geo