Organizations that operate on the territory of the Russian Federation must maintain accounting records. Typically, all business transactions are recorded using a double entry that contains debit and credit.
Instructions
Step 1
To determine where the debit and credit are, look at the business transaction. Typically, a debit reflects what you owe, and a loan is what you owe. For example, you work with any counterparties. The amount you have to pay for the item will be reflected in the credit balance. In the event that buyers owe you, then the amount owed will be recorded on the debit.
Step 2
If you see a log of business transactions in front of you, note that all transactions are registered twice, that is, there will be a name of the movement, and then two columns. To determine which of them is a debit and which is a credit, it is enough to know that debit is always registered on the left side, and credit on the right.
Step 3
To define debit and credit, you need to know that if the account is active or active-passive, an increase in the debit balance leads to an increase in the assets of the organization. Whereas an increase in credit on these accounts leads to a decrease in the value of the property.
Step 4
In the event that the account is passive, then an increase in the debit balance leads to a decrease in the sources of the organization. Conversely, if the credit balance increases, then this means an increase in the sources of the organization.
Step 5
If you want to register the transaction in the general ledger, you must first formulate the transaction, that is, split the transaction into debit and credit. To do this, carefully consider the whole essence of the operation. For example, you have sold a product to a customer. Accounts receivable have formed (that is, they owe you), this must be reflected on the debit account, since your debt is reflected on the credit. This means that the debit will be account 62 "Settlements with customers". For the loan, you also need to reflect this operation, otherwise the balance will not go. Determine which account it left. From the operation it is clear that there was a sale, so in the credit indicate account 90 "Sales".
