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Debits and Credits Rules

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 GroupAccount
Value
Increase		Account
Value
Decrease		Balance
Assets
  • A/R
  • Cash
DRCRDR
Liabilities
  • Deposits
  • Taxes Due
  • Prepaid Sales
CRDRCR
Owner EquityCRDR
Revenue
  • Sales
CRDRCR
Expenses
  • Discounts
DRCRDR


VetView Wiki

Most recent releases of VetView:  Version 4.2.5 Hotfix (Released 10/31/2024)

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

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