Give me a excel made example of double entry
What Are The Three Principles Of The Double Entry System?
Advantages and disadvantages of double entry principles
Personal Account Real Account & Nominal Account. Personal Account: Credit the giver. Debit the receiver.
Real Account: Credit what comes in. Debit what goes out. Nominal Account: Credit all expenses and loss.
Debit all incomes and profit.
Real Account: Credit what comes in. Debit what goes out. Nominal Account: Credit all expenses and loss.
Debit all incomes and profit.
It is to keep account of money going out of your business, money coming in and to lead you to trial balance.