Accounting Debit & Credit Rules. Debits and credits are an integral part of the accounting system. They are the method used to record business transactions, and keep track of assets and liabilities.

Double-entry accounting is a bookkeeping method that records two entries (one debit and one credit) for each business transaction.

When accountants think about software for nonprofits, they typically are talking about accounting systems. But nonprofits, especially those that are government entities, have different needs in an ...

Debit the cash account in a journal entry in your accounting records on the date of the sale by the amount of cash collected from the credit card company.