Glossary
Credit
A credit is the right side of an entry; it raises liabilities, equity and revenue and lowers assets and expenses.
What it means for a shop owner
Do not assume a credit means profit or is good. On the cash account a credit means money going out, and on the sales account a credit means an increase. Learn the direction by account type.
A worked example
You sell for 800 in cash. Cash is debited 800 and sales are credited 800.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes