Understanding Accounting Signs

LAST UPDATED: April 5, 2016

What You Should Know

Please use this reference guide to help understand the fiscal year, accounting periods, and monthly close process as it relates to journal entries. The guide also reviews the natural accounting signs, and the effect of a debit vs. credit on each account type (revenue, expense, asset, and liability). Finally, this guide will illustrate how revenues and expenses are displayed on summary reports vs. transaction detail reports, providing examples of each.

Understanding Accounting Signs Reference Guide (.pdf)


 

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