Bookkeeping

Which Ledger Accounts Will Normally Have Credit Balances?

Which Ledger Accounts Will Normally Have Credit Balances? Do you know that some accounts will usually have debit balances, while some will typically have credit balances? In accounting, having a debit balance (Also see Which Ledger Accounts Will Normally Have Debit Balances?) means that the amount on the debit side of the ledger will be …

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Errors That You May Commit When Recording Business Transactions

Errors That You May Commit When Recording Business Transactions As a business owner, do you know how you should record the accounting entries (Also see Vital Elements in Bookkeeping)? Understanding the correct way of posting the entries in your books of accounts is crucial as this prevents your records from getting messy. Apart from recording …

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