The T Account is a visual representation of individual accounts in the form of a “T,” making it so that all additions and subtractions (debits and credits) ...TAccountsGuideAguidetounderstandingTAccountsHome›Resources›Knowledge›Accounting›TAccountsGuideWhatareTAccounts?IfyouwantacareerinaccountingAccountingPublicaccountingfirmsconsistofaccountantswhosejobisservingbusiness,individuals,governments&nonprofitbypreparingfinancialstatements,taxes,TAccountsmaybeyournewbestfriend.TheTAccountisavisualrepresentationofindividualaccountsintheformofa“T,”makingitsothatalladditionsandsubtractions(debitsandcredits)totheaccountcanbeeasilytrackedandrepresentedvisually.EachaccountwillhaveitsownindividualTAccount,whichlookslikethefollowing: Image:CFI’sAccountingCourses. DownloadtheFreeTemplateEnteryournameandemailintheformbelowanddownloadthefreetemplatenow!T-AccountTemplateDownloadthefreeExceltemplatenowtoadvanceyourfinanceknowledge!FirstName*Email* DebitsandCreditsforTAccountsWhenmostpeoplehearthetermdebitsandcredits,theythinkofdebitcardsandcreditcards.Inaccounting,however,debitsandcreditsrefertocompletelydifferentthings.DebitsandCreditsaresimplyaccountingterminologiesthatcanbetracedbackhundredsofyears,whicharestillusedintoday’sdouble-entryaccountingsystem.Adouble-entryaccountingsystemmeansthateverytransactionthatacompanymakesisrecordedinatleasttwoaccounts,whereoneaccountgetsa“debit”entrywhileanotheraccountgetsa“credit”entry.TheseentriesarerecordedasjournalentriesJournalEntriesGuideJournalEntriesarethebuildingblocksofaccounting,fromreportingtoauditingjournalentries(whichconsistofDebitsandCredits)inthecompany’sbooks.Debitsandcreditscanmeaneitherincreasingordecreasingfordifferentaccounts,buttheirTAccountrepresentationslookthesameintermsofleftandrightpositioninginrelationtothe“T”.LearnmoreinCFI’sFreeAccountingCourses. TAccountsExplainedTheleftsideoftheAccountisalwaysthedebitsideandtherightsideisalwaysthecreditside,nomatterwhattheaccountis.Fordifferentaccounts,debitsandcreditscanmeaneithe