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    chanvo's Avatar
    chanvo Posts: 1, Reputation: 1
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    #1

    Sep 2, 2008, 07:08 AM
    Debit and credit in general ledger
    Difference between a debit and credit in general ledger
    AdamUTsel's Avatar
    AdamUTsel Posts: 100, Reputation: 2
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    #2

    Sep 3, 2008, 11:23 AM
    For every debit in the GL, there is a related credit. This is the essence of double sided accounting.

    Typically, debit balances exist for your assets and expense accounts. Your liabilities, equity, and revenue accounts have credit balances. However, if your GL, you can have debits and credits going against an account that typically carries an overall debit balance. For example, you typically have a debit cash balance. When cash is collected, you debit (increase) your cash account. When you pay cash, a credit in the ledger is recorded to reduce this balance.
    frank5's Avatar
    frank5 Posts: 1, Reputation: 1
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    #3

    Dec 5, 2009, 03:19 AM
    Im always confuse between sundry creditors and sundry debtors I maen how I enter company profile in both of them so pz I u have a anwer please mail me a s a p thanks
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