Re:Plain Text Accounting
by csomar on Tuesday January 12, 2021 @02:51PM
(#25752471)
There are two possibilities:
1. There are people who like to create complex analysis/structure around their lives. I don't say they are unnecessarily complicating their lives, because that's part of their personality. So, yes, you are correct. An double-entry ledger doesn't add much insights.
2. After $200k/year income and $1m+ wealth, and if your wealth is very diversified (inherently complex), then I can see the value in it. ie: An engineer with $200k has less complexity than a freelance with $200k/year. At a certain point the freelance will benefit from an accountant, but maybe he's running some stuff in the dark economy or something.
1. There are people who like to create complex analysis/structure around their lives. I don't say they are unnecessarily complicating their lives, because that's part of their personality. So, yes, you are correct. An double-entry ledger doesn't add much insights.
2. After $200k/year income and $1m+ wealth, and if your wealth is very diversified (inherently complex), then I can see the value in it. ie: An engineer with $200k has less complexity than a freelance with $200k/year. At a certain point the freelance will benefit from an accountant, but maybe he's running some stuff in the dark economy or something.