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tlcba
searching PlanetScale…
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by
tlcba
6y ago
The double entry for the cash account in your books is the opposite terminology used by the bank to present your transactions. For example, in your statement you would see cash coming in as a credit and a payment as a debit. This is because
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by
tlcba
6y ago
The double entry for purchasing raw materials would be the other way round: Dr Materials; Cr Cash. Cash is an asset so debiting it would increase your cash balance. Likewise, Materials is an expense code in the P&L and debiting it will