Difference Between T-Account Form And Self-Balancing Form / Balance-Ruled Account Form
T-Account gives us the simple and easy to use information of account balances related to an Account while Self-Balancing Form or Balance-Ruled Account Form provides upto date information of acount balances on every journal entry posted to it relating to a person or a thing just in one sight. A self-balancing form is better than t-account form as self-balancing form provides more details and updated information of account balances while t-account provides only debit and credit side balances but fails to provide updated account balance on every entry recorded in it. Format of T-Account includes date, particulars, journal folio and debit and credit columns. Forrmat of self-balancing includes date, particulars, journal folio, debit and credit columns and balance column which involves two sub-columns for each debit and credit balance.