What is meant by balancing of an account?explain the various steps taken while balancig accounts?
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heyaa,,,
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What is meant by balancing of an account?explain the various steps taken while balancig accounts?
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Acoording to double entry system it is really necessary to balance the the both debit and credit.
if you do not balance both the equation then your will be wrong.
if your debit side doesn't equal to credit side then you have to add balancing amount . then both debit and credit will be equal.
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Hope it helps☺☺☺
____________________________
What is meant by balancing of an account?explain the various steps taken while balancig accounts?
____________________________
Acoording to double entry system it is really necessary to balance the the both debit and credit.
if you do not balance both the equation then your will be wrong.
if your debit side doesn't equal to credit side then you have to add balancing amount . then both debit and credit will be equal.
____________________________
Hope it helps☺☺☺
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