oboloo Glossary

Debit Or Credit Expense

oboloo Glossary

Debit Or Credit Expense

Debit or Credit Expense, otherwise known as DCE, is an accounting term used to describe the payment for goods or services regarding a particular organization. With DCE, any transactions made will be recorded as either a debit or a credit expense depending on whether the organization incurred a loss or gain from the transaction. DCE is important for creating accurate financial statements and enables companies to keep track of all day-to-day expenses. It is essential that businesses understand how to implement a DCE system correctly in order to remain compliant with financial regulations.