In double-entry accounting, debits and credits follow the accounting equation: Assets = Liabilities + Equity. Debits increase assets or decrease liabilities and equity, while credits decrease assets or increase liabilities and equity. The equation must always balance, ensuring that debits equal credits in every transaction.
Reimagine Your Order-To-Cash with AI
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Autonomous O2C to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
