20 July 2010
In accountancy we write "Debit" on left hand side and credit on right hand side.... But in Indian accounting "Jama" (Credit) is on left hand side and "Naave" (Debit) is on right hand side.
Why this difference is there??
Is it only a way of presentation or anything else???
21 July 2010
This is happend in the case of bank book and if you see properly whenever there is deposite we Debit bank a/c and whenever there is withdrawl or payment then we credit bank account.
So there is no such difference. Moreover, debit and credit rules are same worldwide
21 July 2010
No dear, if u see the cash book in Indian accounting, u will find out that..... there are two sides that is Jama(Credit) on left hand side and Naave(Debit) on right hand side.... This difference is seen in ledger and even in cash book.....
CAclubindia
