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Continue reading →: The Origin of Debit and Credit: Why We Use These Terms in Accounting
For anyone new to accounting, the terms “debit” and “credit” can be intimidating, confusing, and often seem counterintuitive. Why not just say increase or decrease? Why do these two Latin-rooted words dominate balance sheets, bank statements, and bookkeeping software? The answer lies in the deep historical roots of accounting, specifically…
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Continue reading →: Why Debits and Credits Are Reversed in BankingAnyone who has studied basic accounting may feel a sense of confusion the first time they closely review a bank statement. After all, the rules you learn in accounting classes don’t seem to match what your bank is showing you. When you deposit money, the bank calls it a “credit.”…
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Continue reading →: “One Big Beautiful Bill”: The One Big Beautiful Breakdown of Tax Changes Passed in the SenateThis new legislative bill, passed by the Senate on July 1 (legislative day, June 30), 2025, and titled “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14,” introduces a wide array of significant tax changes impacting individuals, families, and businesses across various sectors, with…
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Continue reading →: Debits vs. Credits: The Basics That Still MatterLet’s be honest: when most people hear “debits and credits,” their eyes glaze over faster than you can say “double-entry accounting.” But here’s the truth: understanding debits and credits is still one of the most important foundations in accounting, no matter how much automation, AI, or fintech innovation enters the…