Each payroll journal entry follows the double-entry accounting method ... one account (a credit), it decreases money in another (a debit) — and vice versa. For example, when you pay employees, you ...

Double-entry transactions, called journal entries ... this format and shows information at a detailed account level. For example, the balance sheet shows several asset accounts, including cash ...

For example, if a business owner purchases ... One of the primary rules for double-entry journal entries is to debit what comes in and credit what goes out for real accounts.