what is mean by "TO" and "BY" in Accounting
if I purchase 1000 Rs worth goods how I have to account to my party having usage of To and by??
and also plse tell for sales entry with To and By concepts
please explain me the fundamentals the to & by an accounting
For the purpose of Purchase:
Purchase A/c (Dr. or By) 1,000
To Creditor/Cash/Bank A/c. 1,000
In simple words, By denotes Dr and To denotes Cr
CAclubindia
