Debits & Credits summary | 7 rules that never change
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Debits & Credits summary | 7 rules that never change
Here's everything you need to know about debits and credits – all in one place: 1️⃣ Every transaction has two sides – a debit and a credit. They always balance. 2️⃣ Debit = LEFT side. Credit = RIGHT side. (Not "money in/out" – just left & right) 3️⃣ Five account types: Assets, Liabilities, Equity, Revenue, Expenses. 4️⃣ ...
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