Debit and Credit are most important terms in Accountancy. The entire accounting system depends on Debit and credit. Every transaction must has debit and credit terms. Some Transactions may have more than two ledgers at debit side and only one ledger at credit side. And some more transactions may have more than two ledgers atRead More »
We need to know about the Ancillary Rules of Debit and Credit to enter transactions in the journal (debit credit mode) in Tally. The Transaction can be standard or advanced, but Ancillary Rules give you a perfect and right solution. Entering transactions in Tally is very easy. But you require you to learn about AncillaryRead More »
Generally, You need to know the rules of debit and credit to enter the advanced journal entries (or) Journal entries. GOLDEN RULES OF ACCOUNTANCY The golden rules of accountancy describes to you which ledgers will effect under golden rules of accountancy. And the debit and Credit of ledger depends on purely on that transaction.Here, I’mRead More »
Every financial / Accounting transaction has Debit and Credit. The ledgers in a particular accounting transaction can be divided into debit and credit. Some of the ledgers will fall in DEBIT and Some of the ledgers will fall in CREDIT. And the debit and credit amounts must be equal in a journal entry. The totalRead More »