| > It's how double-entry bookkeeping works. Sorry, but no. I have no idea why you think double entry means 1 of the entries is in some other persons books that you don't have access to is somehow useful. Double entry is 100% local to a singular set of books. The point of double entry accounting is to avoid many simple mistakes. If you can't access a 3rd parties books to check, what is the point of double entry accounting, when you only hold a single entry? I literally have no idea how you think this even remotely makes sense. > Money can neither be created nor destroyed. Totally as an aside, money can indeed be created and destroyed, the govt and even banks do it all the time[0]. But I agree practically speaking from an accounting perspective in a singular person/organizations books money isn't created or destroyed it's just moved around. But for double entry accounting, it's 100% not useful to talk about money in some other person's books, it's irrelevant. 0: BOE, Money Creation in the Modern economy an introduction: https://www.bankofengland.co.uk/-/media/boe/files/quarterly-... |