In double-entry bookkeeping, you enter all transactions in the books twice: once as a debit and once as a credit. This chart shows you how debits and credits affect your various business bookkeeping accounts.
| Account Type | Debits | Credits |
|---|---|---|
| Assets | Increase | Decrease |
| Liabilities | Decrease | Increase |
| Equity | Decrease | Increase |
| Drawings | Increase | Decrease |
| Revenue | Decrease | Increase |
| Expenses | Increase | Decrease |
dummies
Source:http://www.dummies.com/how-to/content/flow-of-credits-and-debits-in-doubleentry-bookkeep.html
No comments:
Post a Comment