In the process of carrying out its activities, the company performs a large number of business transactions that must be reflected in the accounting records. For this, special account forms are used and appropriate postings are drawn up between them. In order to learn how to draw up accounting entries, you need to understand what an account, credit and debit is, and also study the Accounting Regulations.
Instructions
Step 1
Review the basic documents to help you with your transactions. These include: "Chart of Accounts" and various provisions on accounting. The latest documents are constantly being reissued, so it is advisable to always have up-to-date editions at hand.
Step 2
Learn the concept of an account. It is the main unit for storing information on various operations of the enterprise. Accounting accounts allow you to reflect the relationship and ungroup property by location, composition, sources of education, as well as business transactions by various characteristics. Each type of operation has its own account with a serial number that coincides with the balance sheet items and has a credit and debit.
Step 3
Determine for the transaction its relationship to an active or passive account. Active accounts are intended to reflect property by composition, placement and availability and are located in the asset of the balance sheet. Passive accounts reflect the sources of property formation and are located in the liabilities of the balance sheet.
Step 4
Record the transaction on the credit or debit side of the account. For active accounts, debit refers to situations of increase, and credit refers to a decrease in property or funds. For passive accounts, the opposite is true.
Step 5
Create a ledger entry to reflect the transaction using double entry. Records should reflect the movement of assets and liabilities of the enterprise on the accounts. For example, let's take a situation when funds are withdrawn from the current account of an enterprise and are determined at the cash desk. In this case, you need account 50 "Cashier" and account 51 "Current account". The first will be reflected in debit, since the amount of money increased for him, and the second - in credit, since its amount has decreased. If wages are paid from the cash desk, then account 50 is recorded on credit, and account 70 ("Payments with employees for wages") - in debit.
