If debits and credits make your head spin, you are not alone. Knowing if you should debit or credit an account to increase the balance can be confusing. You first need to understand the different types of accounts such as, asset, liability, equity, income, and expense. The infographic below breaks it all down.
For more information on account types, check out our guidebook here.
~ Brandon & Christi are successful business owners who enjoy traveling and making a mess in the kitchen with their two daughters.
The article is for informational purposes only and should not be construed as business, accounting or legal advice. Details are subject to change without notice.
Copyright © 2020, Brandon & Christi Rains, The Sensible Business Owner, ALL RIGHTS RESERVED
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