Re: double-entry bookkeeping unneeded?

Thomas Gagne wrote:
topmind wrote:
Thomas Gagne wrote:

<snip>
That is what I was asking. I was not sure if the criticism of my
suggestion was from a legal standpoint or an implementation standpoint.
Thus, I commented on both possibilities rather than play 20 questions.


GAAP highly recommends double-entry book keeping. Even in practice, it
is a good tool for financial OLTP systems to make sure nothing is
accidentally recorded to the system that doesn't balance.

Normalization is not something I invented. Double entry goes against
normalization. Double-entry is designed for paper processes in mind,
NOT RDBMS. There are *more effective* ways to reduce errors and
mistakes. Normalization is part of it. Perhaps GAAP is insufficiently
educated on database practices and techniques. Technology is not their
main job.


After all, we
don't want someone increasing their account balance if there wasn't a
source of funds involved, would we?

See above.



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.