Perform basic accounting-style debit, credit and contra-account calculations.
The Debit/Credit Event is a foundational Event that can be used to model most generic transactions.
The Debit/Credit Event is the easiest way to model a transaction and control which Accounts are impacted by that calculation. Calculations can be one-time, recurring, or amortized over a fixed period of time.
Can be used for ...
Use this Event for any basic contra-account style transaction where advanced calculations are not required.
- Used to create a debit transaction
- Used to create a credit transaction
- Used for one-time and repeat calculations
- Used for a single transaction where the transaction will be evenly spread over a period of time.
Debits and Credits: A Simple, Visual Guide | Bench Accounting
If there's one piece of accounting jargon that trips people up the most, it's "debits and credits." What exactly does it mean to "debit" and "credit" an account? Why is it that debiting some accounts makes them go up, but debiting other accounts makes them go down?