The Happy Accountant

Suppose a business makes a cash sale for £100, it’s double-entry accounting would be as follows:
CASH ACCOUNT
Debit £100
SALES ACCOUNT
Credit £100
This is because the cash asset increases by £100 (and an increase in an asset is a debit)
Note that the debits and credits for the cash account (ie the bank account) look back to front if [...]

 T accounts are what ledger accounts might look like if they were kept on paper (as opposed to using computer software). 
They are nothing mysterious, drawn on paper, a T account is quite literally a large T!  The title of the ledger (for example, “motor expenses” is written across the top), debit entries against that account are [...]

It’s important to remember that, over and above meeting legal requirements, day-to-day accounts are there to serve the business and not the other way round.
It is not always appropriate to keep full double-entry accounting records.  Indeed, for many businesses, it would be a mistake that would be costly in time and effort for very little return.  [...]

To use the sales ledger spreadsheet is easy.  Just record all your sales invoices as you raise them.  Allow one row per invoice.
Enter the total amounts in columns D and E (if VAT registered) and check that the figure in column F is as you have put in your actual sales invoice.
If you give different periods [...]

I have been at the PUB (not that pub), the PowerUpBlog of Ingenuity Marketing (thanks to Michelle Golden at Golden Marketing for bringing this one to my attention) reading their what’s your story post and I’ve realised that I am guilty of giving off negative vibes about my profession.
I am apologetic at times, when I mention what I do and [...]

Every financial transaction gives rise to two accounting entries:

one debit
one credit

The total value of debit entries in the nominal ledger should always be equal to the total value of credit entries.

An increase in an expense or an increase in an asset is a debit
An increase in income (eg a sale) or an increase in a [...]

Since total liabilities plus capital is always the same as total assets, any transaction which changes a businesses total assets must also change the liabilities plus capital.
Another way of looking at it is:  if a company buys some stock for £100, it’s total assets will have stayed the same, but the amount of cash falls [...]

Accounts which may be present in the general ledger include:

plant and machinery at cost (fixed asset)
motor vehicles at cost (fixed asset)
various provisions for depreciation (liability)
proprietor’s/shareholders’ capital (liability)
stocks (current asset)
total debtors (current asset)
total creditors (current liability)
wages and salaries (expense)
rent and rates (expense)
advertising (expense)
sales (income)

The type of business determines which accounts will be present.  For example, a [...]

The nominal ledger summarises the finances of a business.  It contains details of assets, liabilities and capital, income and expentiure and therefore profit and loss.
It is made up of a large number of different accounts (and are frequently subdivided for convenience, ease, confidentiality or security).
The nominal ledger is often referrered to as the general ledger.

Well, the VAT returns have been done and it’s back to the blog, which has been sorely neglected of late.
I have also been reminded of how handy Excel is as a fallback, even though it isn’t necessarily the best tool for the job, it’s relatively painless, reasonably straightforward and fairly easy to follow the “audit trail”.