T-Accounts |
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The following are the T-Accounts for the most common postings in Design Manager. The Accounts are shown for normal processing. Void and credit functions generally reverse the transactions shown by simply reversing the Debit and Credit sides of the transaction.
Accounting Cheat Sheet: To Increase the following Account Types Asset - Debit the account Liability - Credit the account Equity - Credit the account Revenue - Credit the account COGS - Debit the account Expense - Debit the account
To Decrease the account, do the opposite action of above.
Account Types that appear on the Balance Sheet: Asset, Liability, Equity Account Types that appear on the Income Statement: Revenue, COGS, Expenses.
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