Accounting errors happen from time to time and many can be avoided if you plan properly. Part of planning is knowing which errors are most common and what to do to avoid making them. This article from The Balance Small Business talks about 8 of the most common mistakes that business owners make that will…

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QBScott-Accounting (24)

For the image below, total Debits less total Credits equal the Account Balance. So, in the example in the image, total Debits of 2,675 less total Credits of 275 equal 2,400. This is a Debit amount since, in this example, Debits are greater than Credits.

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