File:Basics Account Relationships.png

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Basics_Account_Relationships.png(510 × 150 pixels, file size: 23 KB, MIME type: image/png)

Assets - Liabilities = Equity + (Income - Expenses)

This equation must always be balanced, a condition that can only be satisfied if you enter values to multiple accounts. For example: if you receive money in the form of income you must see an equal increase in your assets. As another example, you could have an increase in assets if you have a parallel increase in liabilities.

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current16:51, 20 April 2013Thumbnail for version as of 16:51, 20 April 2013510 × 150 (23 KB)Admin (talk | contribs)Assets - Liabilities = Equity + (Income - Expenses) This equation must always be balanced, a condition that can only be satisfied if you enter values to multiple accounts. For example: if you receive money in the form of income you must see an equal i...
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