P.E.A.R.L.S
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Can someone explain to what the PEARLS reference refers to.<BR> <BR>I need a solid way of remembering to which side of the trail balance each entry is required to be placed - either debit or credit. Any suggestions??<BR><BR>Thx
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P.E.A.R.L.S
Hi pearls is great<BR>easy way to remember what your postings should be<BR><BR>Draw up a T acc.<BR>on the dr side you would have p=purchases, E=expenses, A=assets.<BR>Cr side would have R=revenues, L=liabilities, S=sales.<BR><BR>hope this makes sense.<BR><BR>tracy0 -
P.E.A.R.L.S
Hi<BR><BR>Also remember Drawings are a debit (it begins with D), and Capital is a credit (it begins with C), I've also seen reference to remembering discounts allowed as DAD (discounts allowed debit), which I must admit I have found very useful!<BR><BR>All the best<BR><BR>Tracy<BR>0 -
P.E.A.R.L.S
Hi<BR><BR>This is how we have been told to remember or debits/credits and it really works for our group. Its called Reap and Slap. Reap is on the debit side and Slap on the credit side. Also we have been taught that Debits on left and away to remember this is we drive on the left . Credits are on the right and a way to remember this is we crash on the right. You can see what i mean below. May be this will help it ceratinly helps us.<BR>All good wishes to every one for thomorrow<BR><BR>Debits (Drive on left) Credits (crash on right)<BR><BR>Receipts Sales <BR>Expense Accruals<BR>Assets Liabilities<BR>Prepayments Payments0 -
P.E.A.R.L.S
Hi again part of the thread is missing<BR><BR>SLAP<BR><BR>Sales<BR>Liabilities<BR>Accruals<BR>Payments0