Debits and Credits Chart

Using the Bookkeeping Debits and Credits Chart

The Debits and Credits Chart below acts as a quick reference to show you the effects of debits and credits on an account. It also shows you the main financial statement in which the account appears, the type of account, and a suggested nominal code.

Ultimate Debits and Credits Guide and Key

  1. Account Name: The name of the account in the ledgers
  2. Stmt: The Financial Statement in which the account appears
  3. BS: Balance Sheet
  4. P&L: Profit and Loss Account:
  5. Type: The type of account.
  6. Debits: The effect debits have on the account
  7. Credits: The effect credits have on the account
  8. Code: A suggested Nominal code for the account

* The normal balance on an account is indicated by which entry increases the balance. Using the table below, if a debit entry increases the balance then the normal balance is a debit (e.g expenses), if a credit entry increases the balance, the normal balance is a credit (e.g. sales).

Debits and Credits
Account Name Stmt Group Debits Credits Code
Freehold property BS Fixed Assets Increase Decrease 10
Leasehold property BS Fixed Assets Increase Decrease 11
Plant & Machinery BS Fixed Assets Increase Decrease 20
Plant & m/cy depreciation BS Fixed Assets Decrease Increase 21
Office equipment BS Fixed Assets Increase Decrease 30
Office equipt depreciation BS Fixed Assets Decrease Increase 31
Furniture & fixtures BS Fixed Assets Increase Decrease 40
Furniture & fxts depreciation BS Fixed Assets Decrease Increase 41
Motor Vehicles BS Fixed Assets Increase Decrease 50
Motor vehicles depreciation BS Fixed Assets Decrease Increase 51
Inventory BS Inventory Increase Decrease 1001
Work in progress BS Inventory Increase Decrease 1002
Finished goods BS Inventory Increase Decrease 1003
Accounts Receivable Control BS Debtors Increase Decrease 1100
Sundry debtors BS Debtors Increase Decrease 1101
Other debtors BS Debtors Increase Decrease 1102
Prepayments BS Debtors Increase Decrease 1103
Bank current account BS Bank and Cash Increase Decrease 1200
Bank deposit account BS Bank and Cash Increase Decrease 1210
Building society account BS Bank and Cash Increase Decrease 1220
Petty cash BS Bank and Cash Increase Decrease 1230
Cash receipts BS Bank and Cash Increase Decrease 1235
Company credit card BS Bank and Cash Increase Decrease 1240
Credit card receipts BS Bank and Cash Increase Decrease 1250
Accounts Payable Control BS Liabilities Decrease Increase 2100
Sundry creditors BS Liabilities Decrease Increase 2101
Other creditors BS Liabilities Decrease Increase 2102
Accruals BS Liabilities Decrease Increase 2109
Sales Tax Control BS Liabilities Decrease Increase 2200
Purchase Tax Control BS Liabilities Decrease Increase 2201
VAT liability BS Liabilities Decrease Increase 2202
PAYE BS Liabilities Decrease Increase 2210
National Insurance BS Liabilities Decrease Increase 2211
Net wages control BS Liabilities Decrease Increase 2220
Pension fund BS Liabilities Decrease Increase 2230
Loans BS Liabilities Decrease Increase 2300
Hire purchase BS Liabilities Decrease Increase 2310
Corporation tax BS Liabilities Decrease Increase 2320
Mortgages BS Liabilities Decrease Increase 2330
Preference shares BS Capital Decrease Increase 3010
Reserves BS Reserves Decrease Increase 3100
Undistributed reserves BS Reserves Decrease Increase 3101
Profit & Loss Account BS Reserves Decrease Increase 3200
Sales type A P&L Sales Decrease Increase 4000
Sales type B P&L Sales Decrease Increase 4001
Sales type C P&L Sales Decrease Increase 4002
Discounts allowed P&L Sales Increase Decrease 4009
Sales type D P&L Sales Decrease Increase 4100
Sales type E P&L Sales Decrease Increase 4101
Sale of Assets P&L Other Income Decrease Increase 4200
Credit charges P&L Other Income Increase Decrease 4400
Miscellaneous income P&L Other Income Decrease Increase 4900
Royalties received P&L Other Income Decrease Increase 4901
Commissions received P&L Other Income Decrease Increase 4902
Insurance claims P&L Other Income Decrease Increase 4903
Rent income P&L Other Income Decrease Increase 4904
Distribution & carriage P&L Other Income Increase Decrease 4905
Materials purchased P&L Purchases Increase Decrease 5000
Materials imported P&L Purchases Increase Decrease 5001
Miscellaneous purchases P&L Purchases Increase Decrease 5002
Packaging P&L Purchases Increase Decrease 5003
Discounts taken P&L Purchases Increase Decrease 5009
Carriage P&L Purchases Increase Decrease 5100
Import duty P&L Purchases Increase Decrease 5101
Transport insurance P&L Purchases Increase Decrease 5102
Opening stock P&L Purchases Increase Decrease 5200
Closing stock P&L Purchases Decrease Increase 5201
Productive Labour P&L Direct labour Increase Decrease 6000
Cost of sales labour P&L Direct labour Increase Decrease 6001
Sub-contractors P&L Direct costs Increase Decrease 6002
Sales commissions P&L Marketing Increase Decrease 6100
Sales promotion P&L Marketing Increase Decrease 6200
Advertising P&L Marketing Increase Decrease 6201
Gifts & samples P&L Marketing Increase Decrease 6202
PR P&L Marketing Increase Decrease 6203
Miscellaneous expenses P&L Miscellaneous Increase Decrease 6900
Gross wages P&L Overheads Increase Decrease 7000
Directors salaries P&L Overheads Increase Decrease 7001
Directors remuneration P&L Overheads Increase Decrease 7002
Staff salaries P&L Overheads Increase Decrease 7003
Wages regular P&L Overheads Increase Decrease 7004
Wages casual P&L Overheads Increase Decrease 7005
Employers NI P&L Overheads Increase Decrease 7006
Employers pensions P&L Overheads Increase Decrease 7007
Recruitment expenses P&L Overheads Increase Decrease 7008
Adjustments P&L Overheads Increase Decrease 7009
SSP reclaimed P&L Overheads Increase Decrease 7010
SMP reclaimed P&L Overheads Increase Decrease 7011
Rent P&L Overheads Increase Decrease 7100
Water rates P&L Overheads Increase Decrease 7102
General rates P&L Overheads Increase Decrease 7103
Premises insurance P&L Overheads Increase Decrease 7104
Electricity P&L Overheads Increase Decrease 7200
Gas P&L Overheads Increase Decrease 7201
Oil P&L Overheads Increase Decrease 7202
Other heating costs P&L Overheads Increase Decrease 7203
Motor fuel P&L Overheads Increase Decrease 7300
Motor repairs P&L Overheads Increase Decrease 7301
Licenses P&L Overheads Increase Decrease 7302
Vehicle insurance P&L Overheads Increase Decrease 7303
Miscellaneous motor P&L Overheads Increase Decrease 7304
Scale charges P&L Overheads Increase Decrease 7350
Travelling P&L Overheads Increase Decrease 7400
Car hire P&L Overheads Increase Decrease 7401
Hotels P&L Overheads Increase Decrease 7402
UK Entertainment P&L Overheads Increase Decrease 7403
Overseas Entertainment P&L Overheads Increase Decrease 7404
Overseas travelling P&L Overheads Increase Decrease 7405
Subsistence P&L Overheads Increase Decrease 7406
Printing P&L Overheads Increase Decrease 7500
Postage & carriage P&L Overheads Increase Decrease 7501
Telephone P&L Overheads Increase Decrease 7502
Telex/telegram/fax P&L Overheads Increase Decrease 7503
Office stationery P&L Overheads Increase Decrease 7504
Books etc P&L Overheads Increase Decrease 7505
Legal fees P&L Overheads Increase Decrease 7600
Audit & accountancy fees P&L Overheads Increase Decrease 7601
Consultancy fees P&L Overheads Increase Decrease 7602
Professional fees P&L Overheads Increase Decrease 7603
Equipment hire P&L Overheads Increase Decrease 7700
Office m/c maintenance P&L Overheads Increase Decrease 7701
Repairs & renewals P&L Overheads Increase Decrease 7800
Cleaning P&L Overheads Increase Decrease 7801
Laundry P&L Overheads Increase Decrease 7802
Premises expenses P&L Overheads Increase Decrease 7803
Bank interest paid P&L Overheads Increase Decrease 7900
Bank charges P&L Overheads Increase Decrease 7901
Currency charges P&L Overheads Increase Decrease 7902
Loan interest paid P&L Overheads Increase Decrease 7903
HP interest P&L Overheads Increase Decrease 7904
Credit charges P&L Overheads Increase Decrease 7905
Exchange rate variance P&L Overheads Increase Decrease 7906
Depreciation P&L Depreciation Increase Decrease 8000
Plant & m/cy depreciation P&L Depreciation Increase Decrease 8001
Furniture/fit. depreciation P&L Depreciation Increase Decrease 8002
Vehicle depreciation P&L Depreciation Increase Decrease 8003
Office equip. depreciation P&L Depreciation Increase Decrease 8004
Bad debt write off P&L Bad debts Increase Decrease 8100
Bad debt provision P&L Bad debts Increase Decrease 8102
Donations P&L Sundry Increase Decrease 8200
Subscriptions P&L Sundry Increase Decrease 8201
Clothing costs P&L Sundry Increase Decrease 8202
Training costs P&L Sundry Increase Decrease 8203
Insurance P&L Sundry Increase Decrease 8204
Refreshments P&L Sundry Increase Decrease 8205
Suspense account P&L Suspense Increase Decrease 9998
Mispostings account P&L Mispostings Increase Decrease 9999

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