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Big Balancing ‘T’

Credit and Debit side of an account sheet

An account balance is the difference between the totals on the debit side, and the totals on the credit side of the account of the same account. The account balance always belongs to the greater side.If the debit side exceeds the credit side, the account is said to have a ‘debit balance’. If the credit side exceeds the debit side, the account is said to have a ‘credit balance.’