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What is a debit / credit variance?

bexio checks all your accounts for possible debit / credit variances.

The following image illustrates the balance between debits (on the left) and credits (on the right).

 

All your accounts must match this picture. Imagine that your accounting system is constructed like a mobile sculpture. At the bottom are your accounts (in accordance with your accounting system). To stop the mobile tipping to one side, all the accounts must be balanced. Logically, this also applies to the level above with your balance sheet and profit and loss account, and to the top level, Financial accounting.

 

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