Assets are money that you have, and Liabilities are money that you
owe.
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Ledger: Command-Line Accounting you started your ledger. Make sense? Next: Commodities and Currencies, Previous: Stating where money goes, Up: Principles of Accounting with Ledger [Contents][Index] 3.3 Assets and Liabilities <span>Assets are money that you have, and Liabilities are money that you owe. “Liabilities” is just a more inclusive name for Debts. An Asset is typically increased by transferring money from an Income account, such as when you get paid. Here is a typical transac Summary
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