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Unsure of Debit/Credit posting
Posted: Fri Oct 12, 2012 12:39 pm
by JEM
Have a deposit that needs to be Debit-Chequing, Credit GST Receivable (both on Balance Sheet), Credit Income Acct (Income & Expense Sheet) what do I Debit. I still use the Fund Balance 3000 acct. Is this the acct that I debit. Thanks for your help.
Re: Unsure of Debit/Credit posting
Posted: Fri Oct 12, 2012 4:59 pm
by NeilZ
JEM wrote:Have a deposit that needs to be Debit-Chequing, Credit GST Receivable (both on Balance Sheet), Credit Income Acct (Income & Expense Sheet) what do I Debit. I still use the Fund Balance 3000 acct. Is this the acct that I debit. Thanks for your help.
I'm not based in Canada, but I can definitely say you do not directly do anything with the 3000 accounts.
I think it would help if you could say what the deposit is from, Contributions, something else ??