3 Steps to Do Accounting Transactions

To do accounting the transactions means to record transactions the proper way in the books. We can do the accounting of the transactions by follow the rules of debit and credit. Just learning the rules of debit and credit, we can become confident in passing journal entries.
Recently, I met an independent accountant who is earning Rs. 55,000 by accounting of business transactions. He provided his service as professional accountant. Still he does accounting in his accounting software but whole accounting is done by him on the basis of debit and credit rules. If you will learn these simple rules, then you will become also professional accountant and do accounting of every transaction more easily.

In Accounting Software, We are Passing the Journal Entry of Depreciation Expense

1st Step : Collect the Vouchers and Invoices

 Vouchers are the base of transactions. It is the duty of accountant to collect all the bills, vouchers and receipt from customer.

2nd Step : Follow Debit and Credit Rule 

Take a rough page and think what will be journal entry of a given transaction whose information you have obtained from vouchers or bills? Which account will be debit and which account will be credit. Remember expenses, bought assets and debtors and all the receivers account will be debited. All incomes, creditors, increment in liability, decrease in asset and all givers account will be credited. Its more detail, you can learn our accounting examples resources.

3rd Step : Pass the Journal Entry 

Now, after selecting correct debit and credit, you just need to pass the journal entry. One by one take all the bills and records its correct journal entry in the book. In clear word, this is work which is done accountant. For passing journal entry, you can also use any accounting software.

Video Lecture with Example 

Related : Learn Accounting Step by Step 

Reference for Further Reading 


Download Journal Entries eBook








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Accounting Education: 3 Steps to Do Accounting Transactions
3 Steps to Do Accounting Transactions
Accounting Education
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