Accounting Principles Explained In More Detail

Accounting and Bookkeeping Principles

Clients and students sometimes like to understand the principles of accounting and bookkeeping in more detail.

The principles in these pages are used by most mainstream accounting software systems including QuickBooks, FreeAgent, Sage, Xero and Liquid.

We hope these pages are useful for understanding accounting:

The Accounting Ledgers

General (or Nominal) Ledger

Sales Ledger (Accounts Receivable)

Purchase Ledger (Accounts Payable)

Debits and Credits

Journal

Fixed Assets