Can you please let me know how do you keep a running balance for an account using four column accounts.
Thanks!!
Do you mean like a balance sheet?
Yes...
Well, do you need help making a balance sheet?
Just remember A=L+E
Yes, thank you!
The first two columns (debit and credit )are the journal entry and the last two colunms are the ledger( debit and credit ). Do I just copy the numbers to each side. How would I know what to deduct. Are there any websites that I would be able to view to show me how to do this.
This sounds more like your posting stuff to the general ledger. Are there any T-accounts involved?
Are you using the "Fundamental Financial Accounting Concepts" book?
If so, you can check the back cover of the book. It should give you a website telling you where to view these sort of stuff.
Im using accouting by Horngren and harrsion
Ok, I get what your trying to do. Your posting all those journal entries to the ledger. In that case, you should find out which is a debit and which is a credit from the journal entry, and then post it top the ledgers.
About the deduction, what do you mean by that?