Home› Community Chat› Help Center Discussion

Transactions

MHHairInfinityLLCMHHairInfinityLLC Member Posts: 2

I had to put all my transactions for my business manually for deposits and expenses for 1 month because they did show up in my transactions history. However when I went to my reconcile for my account for that month it shows the deposits as debits and the expenses as credits. So everything is in reverse!!! How do I fix this so that I can finish my reconcile for that month and move to the next month?

in Help Center Discussion

Comments

  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey there @MHHairInfinityLLC !

    There might be some confusion occurring here. Happy to bring some clarity to this. In general accounting for asset accounts, debits will be used to represent deposits into your account while credits will be used to represent withdrawals. For liability accounts (like credit cards), debits will be used to represent payments to the account while credits will be used to represent expenses.

    We also have a great Help Center article that sheds light on this. Feel free to check it out here:

    I hope this helps. If you have any other questions, don't hesitate to ask!

Sign In or Register to comment.