Tag: debits credits
Posted on: April 07, 2011 by total
The Different Types of Accounts Now that we understand how to increase and decrease different accounts, we can talk about the meaning of the different account types. This is where we actually start to understand accounting. All accounts fit into 5 overarching account types: assets, liabilities, equity, expenses, and Income. So, we know, from before, […]
Posted on: April 02, 2011 by total
What is Double-Entry Bookkeeping? Alright, Double-Entry Bookkeeping is the standard that everyone in the world uses for accounting. It dates back to around 1300ad, which is pointless information that I’m just putting in here for no reason.