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Normal Account Balances

Updated: Sep 29, 2018

Normal Account Balances

Liabilities-Credit Balance

Owner's Equity-Credit Balance

Revenue-Credit Balance

Expenses-Debit Balance

Assets-Debit Balance

Draw-Debit Balance

Review your Ledgers on a regular basis and verify that each account has a normal balance. If there is a debit balance where there should be a credit balance or vice versa. Analyze each account to determine what's causing an abnormal account balance.

Have know idea what I'm talking about? Contact me to have an more in depth discussion about normal account balances.

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