Rules for Debit and Credit - Journal Entry

[Anuj Joshi]

Following are the rules for Accounting Entries. Hope it is helpful.

1) Real Account:

Debit what comes in

Credit what goes out

2) Personal Account:

Debit the receiver (of benefit)

Credit the giver (of benefit)

3) Nominal Account:

Debit all expenses and losses

Credit all incomes and gains