Personal account includes the account of persons with whom the business deals. The person classified the following ways.

a) Natural person:

The natural person mention to name of individuals customers and Suppliers. E.g.: Ravi, Rams, Mala

b) Artificial person:

Clubs, Banks, Companies, Firms, Co-Operative societies.

c) Representative person:

The Accounts which represent a certain person or group of person. For example, Rent outstanding represents the amount rent dues to the Land lord.

The Rules for the Personal Account are:

• a. Debit the Receiver
• b. Credit the Giver

These are account of assets or properties. Real account includes tangible assets and also intangible assets.

The rules of Real Account are::

• a. Debit What Comes In
• b. Credit What Goes Out

These are the accounts of items which do not have any material existence. Accounts of expenses or loses and Income or gain comes under it.The rules of nominal Account are:

• a. Debit all expenses and loses
• b. Credit all incomes and gains