Debit and Credit Rules when Using Peachtree

By Elaine Marmel, Diane Koers

Part of Peachtree For Dummies Cheat Sheet

Peachtree helps you keep debit and credit rules straight when you’re managing business financials. Just remember: Credits and debits must equal each other. Peachtree will do the accounting work for you, but keep these other pointers in mind:

  • To increase an Asset account, DEBIT it.

  • To decrease an Asset account, CREDIT it.

  • To increase a Liability or Equity account, CREDIT it.

  • To decrease a Liability or Equity account, DEBIT it.

  • To increase a Revenue account CREDIT it.

  • To decrease a Revenue account DEBIT it.

  • To increase an Expense account, DEBIT it.

  • To decrease an Expense account, CREDIT it.