Business management

Introduction to accounting

Debit credit accounting convention

Payment from customer example

The table shows the transaction as recorded in the supplier accounting bank receipts journal(b).

Highslide JS

BANK RECEIPT JOURNAL Inwards Outwards
Account Operation Debit Credit Date ---
100BNK   Payment from customer C. inv. 536524 1,200   21 Feb.14 ---

It basically shows that the bank statement is a symetric mirror of the debit-credit accounting books (journals...) of the business.

Last change 1st June 2014