Transactions should always be balanced

Credits^[https://youtu.be/FJtaM43PgXQ?t=427] are additional value to an account.

Debits are value removed from an account.

Collection of credits and debits with a timestamp is called Transaction

Assets^[https://youtu.be/FJtaM43PgXQ?t=365] are Bank accounts, walletaxts, investments, loans credited.

Income is paychecks, dividends, gifts received, interest.

Expense is groceries, taxes, gifts given, donations

Liabilities are Mortgage, student loans, credit cards, loans owed.

Everything else Equity. Example opening balances, cashback, untrackable errors