WHAT IS DOUBLE ENTRY SYSTEM ? Double entry system is a well – organized and professional system. This system is free from errors. And comprehensive and ideal system too. The transactions are broached in recording both the aspects. They are debit and credit aspects. Every transaction has dual aspect in double entry system. When thereRead 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 »