Accounting


Accounting Forum

AccountingCoach.com is the world's largest free online accounting course.


Not signed in (Sign In)

Categories

Vanilla 1.1.7 is a product of Lussumo. More Information: Documentation, Community Support.

Welcome Guest!
Want to take part in these discussions? If you have an account, sign in now.
If you don't have an account, apply for one now.

General Accounting Discussions: Debits/Credits/Double Entry OH MY!?

Bottom of Page

1 to 3 of 3

  1.  
    • CommentAuthorbreezesa
    • CommentTimeJan 1st 2008
     
    I just can't get my mind around this credit/debit stuff. When you take in money, why don't you credit your cash account? (You now have more cash). And when you spend money why don't you debit your cash account? (You now have less cash). Seems to make sense to me that way. Accounting says the exact opposite. I know I"m really dumb here but HHHEEELLLPPP!!
    • CommentAuthorwildchild
    • CommentTimeJan 4th 2008
     
    Assets such as cash increase by debit...when you gain cash, equipment or any other asset you record the amount received into the debit side.
    On the other hand there are the Liabilities & Equity which are exactly the opposite, they increase by credit and decrease by debit.
    • CommentAuthorCounter
    • CommentTimeJan 9th 2008
     
    You might look at the explanations on AccountingCoach.com for Debits & Credits and Accounting Equation.

1 to 3 of 3

  1.  



 

Why AccountingCoach.com?

the accounting coach

AccountingCoach.com is designed to help people without an accounting background easily understand accounting concepts at no cost.


By investing thousands of hours, we have created clear and concise accounting information for both business people and students of all ages.


We understand how difficult accounting can be. That's why we have ensured that each accounting topic includes a clear explanation, reinforcing drills, Q&A, puzzles, dictionary of terms, etc.


Read 1,440 Visitor Testimonials



What's on AccountingCoach.com?