Debits and credits journal entries form the foundation of bookkeeping in business. These debits and credits are used to record the financial transactions of a company, with credits indicated as positive values and debits marked as negative values. These entries are made on account ledgers and then transferred onto an income statement or balance sheet each month. The accuracy of these entries is vital for analyzing the success of a business and creating sound financial management strategies. So don’t take these debits and credits lightly- they can make or break your business!