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“Liabilities” is just a more inclusive name for Debts.
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Ledger: Command-Line Accounting
Previous: Stating where money goes, Up: Principles of Accounting with Ledger [Contents][Index] 3.3 Assets and Liabilities Assets are money that you have, and Liabilities are money that you owe. <span>“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 transaction: 2004/09/29 My Employer Assets:Checking $500.00 In


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