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Should we introduce double-entry accounting?
Poll ended at Wed Oct 31, 2007 1:46 am
No, BADGER does fine without it 33%  33%  [ 2 ]
Yes, there's a reason this is common standard 67%  67%  [ 4 ]
Total votes : 6
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 Post subject: Should we introduce double-entry accounting?
PostPosted: Tue Oct 30, 2007 1:46 am 
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BADGER 1 used its own accounting model. The common model is double-entry accounting.

Aspects of simple accounting model:
  • Very simple.
  • Intuitive to understand.
  • BADGER users are used to it.

Aspects of double-entry accounting:
  • Proven for centuries.
  • Standard accounting model.
  • Not intuitively understandable by people without business knowledge.
  • Would require a way to hide its complexities from "simple" users.

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Last edited by enikao on Mon Nov 12, 2007 11:54 pm, edited 1 time in total.

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PostPosted: Tue Oct 30, 2007 1:49 am 
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One way to hide the complexities of double-entry accounting would be as follows:
  • The user can select whether he/she wants to use double-entry accounting.
  • If he/she does want to use it, BADGER refuses to record a booking without proper counter-entry.
  • If he/she does not want to use it, BADGER automatically calculates the missing counter-entry and records it to a hidden account.

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PostPosted: Tue Oct 30, 2007 11:43 am 
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Location: Frankfurt a. M., Germany
yes. i vote for double-entry accounting including a way to hide it to those who chose not to use it. (badger simple, badger power or something like that ... )

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 Post subject: Re: Should we introduce double-entry accounting?
PostPosted: Mon Jan 12, 2009 2:05 pm 
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What is the difference between accountancy and accounting? My cousin is going to be applying for a course and she needs to know the difference between accountancy accounting.
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Last edited by devina on Tue Jan 13, 2009 1:32 pm, edited 1 time in total.

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 Post subject: Re: Should we introduce double-entry accounting?
PostPosted: Mon Jan 12, 2009 2:08 pm 
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there is no difference.

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 Post subject: Re: Should we introduce double-entry accounting?
PostPosted: Wed Mar 18, 2009 8:44 am 
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Double Entry Accounting. What account should you use when accounting for taxes.?
I am unsure of what accounts should be used when using double entry accounting to account for and paying a tax bill for the last quarter. Should it be considered as a liability, asset or an expense. What account should be debited and credited when the bill is recieved and when it is paid.

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 Post subject: Re: Should we introduce double-entry accounting?
PostPosted: Wed Mar 18, 2009 9:38 am 
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in double entry accounting, all accounts have a debit/soll and a credit/haben side.
assets and expenses (aktiva) increase with entries in the debit column.
liabilities, equity and income (passiva) increase with entries in the credit column.
see http://en.wikipedia.org/wiki/Debit for more details.

For your tax question I can think of two scenarios:

500€ income tax payment for a private person:
you need an account that you call "taxes". you book the transaction in this account and the accoutn out of which you pay the taxes (i.e. bank account)

it gets a bit more complicated if you're talking about VAT, because you have to already do double entry accounting when accounting for the income:

1000 € income as a freelancer etc.
1000 € + on account "income"
200 € (20% VAT) + on account "pretax"

then when you pay the taxes, you book the tax account versus the pretax account to even them out.

I would like to point out that I failed both accounting (repeatedly) and tax (hilariously) during my studies and take not responsibility for anything said. :-)

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