Debits (Dr) & Credits (Cr)

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DEBITS (DR) & CREDITS (CR)
ACCOUNT
Financial
ACCOUNT TYPE
NORM
INCREASE
DECREASE
Statement
ASSET
DR
DR
CR
ie. Bank Accounts
Balance
Accouts Receivable
Sheet
LIABILITY
CR
CR
DR
ie. Bank Loan
Accounts Payable
Government Payables
EQUITY
CR
CR
DR
ie. Capital / Draw
Current & Retained Earnings
REVENUE
CR
CR
DR
ie. Sales
Income
Products
Statement
EXPENSES
DR
DR
CR
ie. Productions costs
Administrative costs
Overhead, etc.
NOTE: GST on Sales Norm is a credit
GST on Purchases Norm is a debit

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