Making sense of cross-references
ID:CVMSCR
Video Overview
It is important in any business to create a proper audit trail, or paper trail as it is commonly known. For this reason, whenever we work with T accounts in the general ledger, we use cross referencing. This means that when one account is debited, the name of the contra account that is being credited is recorded there as a cross reference. The same applies for the account that is being credited - a cross reference with the name of the account that is being debited is recorded in the account. This tutorial has been designed to help you make sense of cross references.
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