Debits (traditionally recorded as positive numbers) and credits (traditionally recorded as negative numbers) affect dollar balances differently depending on which account code range they are recorded against:
DEBITS |
CREDITS |
ASSETS - Account codes 000000 - 099999 |
|
Increase |
Decrease |
LIABILTIES - Account codes 100000 - 199899 |
|
Decrease |
Increase |
NET ASSETS - Account codes 199900 - 199999 |
|
Decrease |
Increase |
REVENUE - Account codes 200000 - 399999 |
|
Decrease |
Increase |
EXPENSES - Account codes 400000 - 989999 |
|
Increase |
Decrease |
