Question

when creating a formula for balancing in a check book what do you subtract from the credits

Answer 1

When creating a formula to balance a checkbook, you subtract the total debits (or expenses) from the total credits (or income) to find the current balance. The general formula can be expressed as:

**Current Balance = Previous Balance + Total Credits - Total Debits**

Where:

- **Previous Balance** is the balance carried over from the previous statement.
- **Total Credits** are the total amounts of money deposited or received (e.g., salary, refunds).
- **Total Debits** are the total amounts of money spent or withdrawn (e.g., checks written, fees).

In summary, you subtract the **total debits/expenses** from the **total credits/income** in your checkbook balancing formula.