The one thing that I remember from my college accounting classes is that the left must equal the right. Any business or accounting major knows that this is Accounting 101. Your debits must equal your credits. So if there is a debit on the left there has to be a credit on the right.
Businesses, the government, and individuals often ignore this basic truth. Yeah I know it is just Double-Entry Accounting, but it is powerful if you use it to remind yourself that for every action there is an opposite reaction.
I don’t know about you but sometimes I need to be reminded that if I increase my liabilities I am also increasing my expenses. So even though I may want that new laptop(liability) I don’t want the increased expense. To often we forget the simple things in life.
As a reminder that Debits must equal credits I created the Accounting 101 design. The design is available in blue and gray. The Accounting 101 (Blue) is the most popular of the two designs. The Accounting 101 Tote Bag is great for Accounting Professors, Accounting Majors, Accounting Teachers, and anyone else that has a love for Accounting. The Accounting 101 Women’s V-Neck T-Shirt is the best selling t-shirt in the Accounting 101 category. The Accounting 101 Hoodie is also a popular item.