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    Janners's Avatar
    Janners Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Dec 2, 2005, 06:15 AM
    Credit & Debits
    Is there an easy way of remembering which entries are Credits & which are Debits when using computer programs? I can never remember which way round they are.
    RickJ's Avatar
    RickJ Posts: 7,762, Reputation: 864
    Uber Member
    		  
    #2

    Dec 3, 2005, 08:28 AM
    Here is a good overview that I think is explained well:
    http://www.accounting-and-bookkeepin...ics-credit.htm

    Look especially at the 4th paragraph.
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #3

    Dec 26, 2005, 07:18 PM
    Debits And Credits.
    You have indicated that you are having trouble as to which is which.

    Follow these rules and you can never go wrong
    again.

    1) All Assets and All Expenditures are DEBITS.

    2) All Liabilities and All Incomes are CREDITS.

    Summary:-

    A+E = L+I

    All the very best,

    rolcam.
    Janners's Avatar
    Janners Posts: 2, Reputation: 1
    New Member
    		  
    #4

    Dec 27, 2005, 08:21 AM
    Debits & Credits
    Hey Rolcam,

    That's the easiest rule I heard so far - Sure it will help me a lot. Many thanks.

    Jan
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