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Crypto Debit Card
A crypto debit card is a type of debit card that allows its holder to pay for goods and services using cryptocurrencies like Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH). Most crypto debit cards in use today are powered by Visa and MasterCard, ...
Debit
Debit means an entry recorded for a payment made or owed. A debit entry is usually made on the left side of a ledger account. So, when a transaction occurs in a double entry system, one account is debited while another account is credited. An account ...
Contra Entries
A contra entry is recorded when the debit and credit affect the same parent account and resulting in a net zero effect to the account. These are transactions that are recorded between cash and bank accounts. For example, a company withdraws cash from ...
Ledger
A Ledger is a book where journal entries are posted into individual ledger accounts in a chronological order. A ledger account is maintained to calculate the account balances at the end of every month and to summarize the financial information from ...
Trial Balance
Trial Balance is a statement which contains the closing balances of all the ledger accounts as of a particular date. It has two sides: debit and credit to enter the respective closing balances of ledger accounts. The main purpose of running a trial ...