why do we always debit all expenses?

Answer 1

Debit-increase to a Property (Asset) or a decrease to Property Rights (Liability or Equity)
Credit-decrease to a Property (Asset) or an increase to Property Rights (Liability or Equity)

The term debit refers to the left side of an account and credit refers to the right side of an account. A debit is always entered in the left hand column of a a Journal or Ledger Account and a credit is always entered in the right hand column. Debit is abbreviated Dr. and credit is abbreviated Cr.

When you post (record) an entry in the left hand column of an account you are debiting that account. Whether the debit is an increase or decrease depends on the type of account. Likewise, when you post (record) an entry in the right hand column of an account you are crediting that account. Whether the credit is an increase or decrease depends on the type of account.

A Debit is any of the following
* an increase in an asset item
* a decrease in a claim item
* an increase in an expense or draw item
* a decrease in a revenue item A Credit is any of the following
* a decrease in an asset item
* an increase in a claim item
* an increase in a revenue item
* a decrease in an exoense or draw item

* Our Simple Debit / Credit Rule: All Accounts that Normally Have a Debit Balance those on the Left Side of our Reorganized Equation are Increased with a Debit and Decreased with a Credit
o Assets
o Expenses
o Draws
* All Accounts that Normally have a Credit Balance those on the Right Side of our Reorganized Equation are Increased with a Credit and Decreased with a Debit
o Liabilities
o Owner's Equity ( Capital )
o Revenue

Our Detail Debit and Credit Rules
Account Type Debit Credit Normal Account Balance
Assets
Liabilities
Owner's Equity
Revenue
Expense
Draw Increase
Decrease
Decrease
Decrease
Increase
Increase Decrease
Increase
Increase
Increase
Decrease
Decrease Debit Balance
Credit Balance
Credit Balance
Credit Balance
Debit Balance
Debit Balance

A debit increases an asset while a credit decreases an asset.
A debit decreases a liability while a credit increases a liability.
A debit decreases owner's equity while a credit increases owner's equity.
A debit decreases revenue while a credit increases revenue.
A debit increases an expense while a credit decreases an expense.
A debit increases a draw while a credit decreases a draw.

Answer 2

Debit Expenses

Answer 3

Debit and credit are different as far as accounting terms. Someone should rename these terms. I had a very hard time learning to debit expenses and credit income. That is not right!

Answer 4

Briefly - Golden Rules of Accounting

In case of Real Account
Debit- what Comes In
Credit- What Goes out
In Case of Personal Account
Debit- The Receiver
Credit- The Giver
In Case of Fictitious Account
Debit-All Expenses and Loss
Credit-All Incomes and Gains

Answer 5

Costs and expenses are normally debits. You debit the expense account and credit the way it was paid (as in the checking balance or cash) or not paid (as in Accounts Payable).

Answer 6

As per rules of Accounting
Debit Expenses
and credit Incomes

Answer 7

according to the news and a article i read that u should use credit over debit cause the stores make more money off of ur credit cards...

Answer 8

Because revenues are credited. Don't overthink the matter, it's trivial.

Answer 9

why dont we call our left hand as right hand?

Answer 10

who credit it?