How do you do double entry bookkeeping

(4 Posts)
daisydee43 Wed 09-Oct-13 14:37:59


I am self employed but do not earn enough to warrant an accountant. I am using a double entry ledger for bookkeeping but don't understand the credit for every debit - please help grin

garlicvampire Wed 09-Oct-13 16:43:33

I was interested in your question, Daisy, so I had a look at this: In a sudden flash of comprehension, I understood why my Paypal account looks so complicated!

Not entirely sure I'm ready to start doing this for real, but at least I get the idea now. Hope it helps you, too smile

daisydee43 Wed 09-Oct-13 16:49:11

Hi have had a look - gives good info on purchasing items but what about putting in income and deducting wages?

garlicvampire Wed 09-Oct-13 17:10:14

Well, wages are a purchase so they'd work the same way as the examples. Couldn't figure out the income part myself, so Prof Google provided another 'Aha!' moment grin

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