Previously we mentioned how important it is for your company to have accounting accounts, this time we will explain what are the parts that make up an accounting account and why it is important for your company to have qualified advisers to generate the accounting accounts that your company needs. Accounting accounts are a set of records where all the movements generated by your business must be detailed, including credit or debit amounts.
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The parts that make up an accounting account are the following:
Account name: Each accounting account must be registered under a name or owner.
Debit: Or also known as “must”, indicates the reason why certain amounts enter the business. It is placed on the left side of the account.
Credit: Unlike debit, the credit in an accounting account is placed on the right side of the account and represents everything that “leaves” the company
Balance: The balance denotes the difference between debit and credit. If the sum of the debits of an account are greater than the sum of the credits, the result is a debit balance. If, on the other hand, the total of the credits is greater than the debits, the balance will be creditor.
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It is important that the administration and accounting of your business is carried out by professionals, who have extensive knowledge in accounting, income and finance issues.
At QuAdrans Law and Finance our main service is accounting. We offer you help with your FIEL and CIEC process, we manage the financial activity of your business, we issue financial statements, among other things, we file statements, among other things.Our mission is to provide you with adequate advice for the business accounting of your company. Together we can make the best decisions for the success and growth of your business.
