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Entering YTD Account Totals Using Journal Entries This advanced help topic covers the process of entering ending balances and year-to-date totals for various accounts. Beginning and ending balances can be considered the same thing as “YTD balances” or “account totals”. Defining Beginning and/or Ending Balances The beginning balance represents the balance of an account at […]
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Introduction Every debit must have a credit and vice versa. Example Assume you write a check for your monthly rent. You reduce cash and increase expenses . Credit cash; debit rent expense. Every transaction has to be analyzed with its impact on at least two accounts. Sometimes a transaction involves more than two accounts. Example
An Explanation of Double Entry Bookkeeping Read More »
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