ITT Council

Accounts Rules Personal Account :-             Debit the receiver              Credit the Giver. Real Account:             Debit What Come’s in,             Credit What Goes Out. Nominal Account:             Debit All Expenses and Losses,             Credit All Incomes and Gains. Personal Account : This Rule Related to Name suppose Farhan,  Zaki, Reliable, ITT Council, any Persons name, Firm, Company, Trust, etc. Transaction For Example - Purchases Goods from Sanjay Pvt. Ltd. <----- Name is Personal Account Related Cash Paid to Farhan <----- Name is Personal Account Related Furniture Purchases From Zaki House <----- Name is Personal Account Related ...