You need to look at the circumstances and determine what type of accounts are increasing and what's decreasing.
An increase in the following accounts are:
Assets - debits
Liabilities - credits
Capital - credits
Revenue - capital
Expenditure - debit.
Everything will fall under one of those five types of accounts.
when a business transaction takes place two effects will also take place, that is one account which receives the benefit of this transaction will be debited and the other account which gives the benefit of this transaction will be credited. The difference is this canot be visa versa.
You have to enroll your account in BPI main office.
Yes. In double entry accounting every number is entered twice. There are two columns, debits and credits. Every dollar is debited against one account and credited to another account. This makes it easier to keep track of where the money is going. Then when an accountant checks the company books against the cash on hand and against the bank accounts it makes it real easy to find out if fraud is occurring. A problem comes when a company uses the same accountant year after year and the person stealing the money bribes the accountant not to report the fraud. Then the system does not work.
This is a refund for a historic ATM transaction. I got one of these from Natwest. According to the letter I received, I tried to take out £10 in 2006, didn't get the cash but my account was debited. So they have refunded it 6 years later, along with a 'goodwill payment' of £1.67. Part of their mission to become 'Britain's most helpful bank', apparently.
no
when a business transaction takes place two effects will also take place, that is one account which receives the benefit of this transaction will be debited and the other account which gives the benefit of this transaction will be credited. The difference is this canot be visa versa.
FSNB offers the same standard ability to check balance, transfer balances, and pay bills that many banks offer. FSNB also offers 'real time' banking, so every transaction that one makes is credited or debited immediately.
A secure transaction is one in which the data that is being transmitted is safe and is not know to people other than the intended recipients.
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
These are accounts that are set up to post between companies. For instance, one company pays health insurance for it's self and another company. A portion of the payment is an expense of that company and a portion of that payment is due to the first company from the second company. So, instead of the two companies having to pay each other for every transaction every day. The due to/from intercompany account gets credited and debited so that all the transactions for the period (usually each month) are netted and one check is cut.
Recording referes to the concept of just writing down any exchage of values in business (transactions) such as merchandise sold, it is recorded in a double entry sales where cash is debited and merchandise is credited. during classification, these transactions are classified in heads under "T Accounts" where all cash/other accounts which were debited/credited comes under one heading and shows the current position of cash/ other accounts these T Accounts are then summarized in steps in a more meaningful form to have a better view of progress of the business. example is p/l statements, balance sheet, etc
yes
He blew a joint He was credited with twenty one stolen basses.
Algabra is one innovation not credited to the Chinese.
You have to enroll your account in BPI main office.
Advantages of Journal: The following arte the advantages of journal: Each transaction is recorded as soon as it takes place. So there is no possibility of any transaction being omitted from the books of account. Since the transactions are kept recorded in journal, chronologically with narration, it can be easily ascertained when and why a transaction has taken place. For each and every transaction which of the two concerned accounts will be debited and which account credited, are clearly written in journal. So, there is no possibility of committing any mistake in writing the ledger. Since all the debits of transaction are recorded in journal, it is not necessary to repeat them in ledger. As a result ledger is kept tidy and brief. Journal shows the complete story of a transaction in one entry. Any mistake in ledger can be easily detected with the help of journal.
one of the examples of online transaction processing is the E-Commerce. But not just one example there are many of them..