Debits And Credits Chart
Debits And Credits Chart. It also shows you the main financial statement in which the account appears, the type of account, and a suggested nominal code. Simply Put: Debit = Left and Credit = Right.
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The primary difference between debit vs. credit accounting is their function. Any prior knowledge you have around debits and credits (usually associated with bank accounts and credit cards) needs to be thrown out. Debits and credits actually refer to the side of the ledger that journal entries are posted to.
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