A transaction in a double entry accounting
system such as
GnuCash is an exchange between at least 2 accounts. Thus, a
single transaction must always consist of at least two parts, a from and
a to account. The from account is transferring value to the to account.
Accountants call these parts of a transaction Ledger
GnuCash, they are called
A split identifies the account to which it refers, the
amount of money specifically moved to or from that account, and
can contain a few other specific pieces of information if needed.
GnuCash supports multiple splits in a
single transaction, and the splits can move money into or out of
the involved accounts arbitrarily.
For example, you receive a paycheck and deposit it into your savings account at the bank. The transaction that occurs is that your bank savings account (an asset) received money from your income account. Two accounts are affected, and in this case there is a net increase in your equity.
Working with transactions in
GnuCash is performed using what is
known as the account register. Every account you
create has an account register. It will appear familiar to you as it looks
very similar to the log used to track checkbooks.
The account register is explained in the upcoming section, Section 4.2, “The Account Register”.