Re: double-entry bookkeeping unneeded?

In article <kfydnYNdCO77zwnYnZ2dnUVZ_oqmnZ2d@xxxxxxxxxxxxxxxx>,
Thomas Gagne <tgagne@xxxxxxxxxxxxxxxxxx> wrote:

I'm anxious to see how that approach implements a single $100 payment
with $98 to interest and $2 to principle. You'll also have to tell
nearly every two and four-year college to rewrite their /introductory/
accounting classes to get rid of credit and debit accounts.

I'm not so sure that's a bad thing. The point I was trying to make is
that instead of a system where a group of transactions taken as a whole
is balanced, it is perfectly reasonable to have a system where each
transaction is itself balanced. For your example, it'd go something
like:

check payment 100
payment interest 98
payment principle 2

This also supports encapsulation better because the details of how the
payment is broken up is really an internal matter, and the parts of the
system that track incoming checks really shouldn't be exposed to the
details of a split just to satisfy an old accounting practice.

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