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Debits and Credits Rules

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Quite simply there are 5 account types and each one can go up or down as follows.

D E A D C L I C
This acronym stands for Debit Expenses, Assets and Drawings, and Credit Liabilities, Income and Capital.

Account Group	Account Value Increase	Account Value Decrease	Balance
Assets A/R Cash	DR	CR	DR
Liabilities Deposits Taxes Due Prepaid Sales	CR	DR	CR
Owner Equity	CR	DR
Revenue Sales	CR	DR	CR
Expenses Discounts	DR	CR	DR

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Info
To see commonly used terms in VetView Hospital, please visit our Hospital Glossary of Terms.

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