Balancing the books relies on double-entry accounting, ensuring that accounting records are accurate and all items add up. Luca Pacioli, a Franciscan monk, developed the technique of double-entry accounting. Pacioli is known as the “Father of Accounting” because the approach he devised became the basis for modern-day accounting. He warned that you should not end… Continue reading Debit vs Credit What’s the Difference? Example Chart Explanation