The balance sheet is one of the forms of accounting. Typically, it consists of two tables: assets and liabilities. An asset is those funds that generate income for the organization, for example, non-current assets, fixed assets. Liabilities are sources of funds, they include capital, liabilities. As a rule, asset and liability are always equal.
In accounting, all business transactions are reflected using a double entry, that is, the same transaction is recorded twice on one account (debit) and on the second (credit). This is called wiring. For example, an organization has acquired a fixed asset. The accountant should reflect this as follows: D08 "Investments in non-current assets" K60 "Settlements with suppliers". Thus, account 08 is active and 60 is passive. Hence, we can conclude that an asset is a means (property, materials, values), and a liability is money with which this object was acquired. As a rule, the balance on the asset will always be in debit, and on the liability - in credit. If you add up the turnovers for the asset and liability, then they will be equal, but they will be recorded in different ways - in debit and credit. Thus, the same amount will be posted twice - in the asset of the balance sheet and in the liability. For example, you purchased content. You should reflect this using debit account 10. It shows what funds were purchased. And in the loan, you must indicate where they came from, for example, you bought them from a supplier - account 60. Thus, 10 is an asset, 60 is a liability. The sum for them will be equal. There are also active-passive accounts. As the name suggests, they can be both active and passive. For example, account 76 "Accounts receivable" - the balance can be recorded both in debit and credit. By posting, you will not be able to bypass an active or passive account. Otherwise, your balance sheet will not converge, which means that you have incorrectly registered some business transaction. If you provide such a balance sheet to the tax office, then it will have many questions, because any means appears from somewhere, and not by the instant of a magic wand.
