Seeking a reliable solution for your scanned bills? It cannot be denied that receipt scanning has given a great deal of ease in the way we monitor our expenses but keep it alone at that and you'll not go further. The thing is, scanned data and scanning software generally go together; and one thing will not operate with as much value when the other is absent.
T-Accounts & Credit Debit
The final product of an accounting system are financial reports. The standard system to help us understand the business transactions are defined through a T Account. Accounting system consists of various elements like debits/credits, double-entry accounting, and chart of accounts.
The full explanation of these terms are included in a PDF file called T Accounts for Dummies. It also covers other basic accounting topics and resources.
Page 104 of Fundamental Accounting Principles Text Book (Volume 1 by Larson Jensen) defines T-Accounts as: A simple characterization of an account form used as a helpful tool in showing the effects of transactions on specific accounts.