How do we segregate debit & credit transactions in Receivables and where we will do it?

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Vinod

  • Aug 28th, 2006
 

Hi,

Basically the debit and credit transaction are classified  by the transaction class.

Transaction --> Class

Regards

Vinod

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ch.v.rama krishna rao, chirala

  • Nov 8th, 2007
 

To record the business transactions, we have rules of debit and credit. According to those rules transactions are recorded either debit side or credit side of the account. Generally a personal account having debit balance is a debtor and with a credit balance is a creditor.

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