Accounting Debit Credit Chart is an important tool used by businesses and accountants alike to keep track of each transaction’s accounting impact. It provides a clear visual tally of debits and credits for every transaction, which ensures that all financial transactions are correctly reported and accounted for. The chart contains four columns: Date, Description, Debit, and Credit. A debit entry increases the asset or expense accounts and decreases the liability, capital, or revenue accounts. Conversely, a credit entry decreases the asset or expense accounts and increases the liability, capital, or revenue accounts. By clearly documenting the debit and credit entries for every transaction, the Accounting Debit Credit Chart helps companies maintain accurate financial records.