Debit / Credit Event

Basic Event

Multi Record

⭐

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.

Example Files

Whatifi: Making Bigger Decisions. Better.

https://app.whatifi.io/shareScenario/af1c038f-8b63-4e52-9299-fc407e9569be

Event States

Debit

• Used to create a debit transaction

Credit

• Used to create a credit transaction

Ongoing Transaction

• Used for one-time and repeat calculations

Amortized Transaction

• Used for a single transaction where the transaction will be evenly spread over a period of time.

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Event Fields

Additional Resources

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?

https://bench.co/blog/bookkeeping/debits-credits/