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

    Apr 20, 2009, 05:08 AM
    I don't understand T accounts
    I want to understand how to post t accounts correctly
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Apr 20, 2009, 12:27 PM

    A T-account has 3 sides, the Top of the T, The Left side of the T, and the right side of the T.
    The top of the T is for the Account Title.
    The Left side of the T is for the account Debits.
    The Right side of the T is for the account Credits.
    The T account is used to post transcations. For example is you receive cash from a customer on account you will have 2 T accounts. The Cash T account will have a Debit posting for the amount received along with the date, and the A/R T account will have a Credit posting for the amount paid along with a date.

    T accounts are used to ensure you have a Debit and a Credit posting that are equal. Also T accounts are a good tool for visualizing your transactions in order to verify your debit and credit postings.
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