(We need a summary for this page.)Staff can learn more about debits and credits in Kuali Financial Systems (KFS).
Debits and Credits Quick Reference
TYPE OF OBJECT CODE | I NEED TO…. | DEBIT OR CREDIT? | TO OR FROM? |
Asset (1xxx) | Increase an Asset | Debit | To |
Decrease an Asset | Credit | From | |
Liability (2xxx) | Increase a Liability | Credit | To |
Decrease a Liability | Debit | From | |
Revenue (4xxx) | Increase revenue | Credit | To |
Decrease revenue | Debit | From | |
Expense (5xxx-9xxx) | Increase an Expense | Debit | To |
Decrease an Expense | Credit | From |
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