what is the meaning of debit and credit?
928599
Debit and Credit are formal bookkeeping and accounting terms that have opposite meanings and come from Latin. Debit comes from debere, which means "to owe". The Latin debitum means "debt". Credit comes from the Latin word credere, which means "to believe".\n\nDebit is abbreviated Dr., while credit is abbreviated Cr.\n\n"Debit" also refers to the left side of a general ledger account, while "Credit" refers to the right side.\n\nA debit is also (informally) referred to as a "charge."\n\nA debit or credit changes the balance of an account. Asset and expense accounts increase in value when debited and decrease when credited, whereas liability, equity, and revenue accounts decrease in value when debited and increase when credited. This distinction is somewhat counterintuitive, until the nature of those accounts is more closely scrutinized. For example, revenue is coded as a credit. After recording a day's sales, the company will have credited a certain amount in revenue, and since credits are negative numbers, the balance grows more and more negative. An adjustment to revenue would need to be a debit, because its purpose is to bring the revenue totals closer to zero.\n\nIt is often assumed that a debit decreases a balance, and a credit increases it, because this is how the terms are used on bank statements and using a debit card decreases the balance in one's bank account. However, this is because bank statements are traditionally written from the bank's perspective, where the customer's account is a liability. By withdrawing money, the customer is decreasing the bank's liability. Since liability accounts normally have a credit balance, the withdrawal of cash from a banking account is reflected on the bank's balance sheet as a debit.
743226
Monthly, Quarterly, half yearly and yearly.\n\nMonthly generally we enable ECS where account gets debited online. You can pay by DD also or by cheques but collection charge will be there
1080999
what dose that have to do with credit
914491
If I understand this question, you, the company, is paying the creditor the money.  In this case, it would be a decrease to Cash (the asset) listed as a credit, and a decrease to a liability, such as accounts payable, listed as a debit.  In other words, these would the the journal entries:\n                           Debit                Credit\nCash                  1800\n      Accounts Payable                 1800
847116
Qoute:\n\nAccounting entries are made on the left side and right hand sides of an account. When an amount is entered on the left side, the account is said to be debited, and when an amount is entered on the right side the account is said to be credited. The difference between the total debits and total credits is the balance of the account. The balance may be either a debit balance if the debit side exceeds the credit side; or a credit balance if the credit side exceeds the debit side. When the total debits equal the total credits, the account is said to have nil or zero balance. The words "debit" and "credit" should not be confused with "increase" or "decrease". Certain accounts may increase when debited and other accounts may increase when credited depending on the type of account involved.\n\n\nLeft hand side of the pageThis is the debit side\n\nThe right hand side of the page       This is the credit side\n\n\nThe two rules of double-entry book keeping are that every transaction affects at least two accounts and that the total for the debit and credit sides should be equal. In other words, for every transaction, one or more accounts must be debited and one or more accounts must be credited.\n\nThe learners are required to master the following general rules:\n\nAccount      An Increase           A decrease\n\nAsset        Should be debited Should be credited\nLiability  Should be credited  Should be debited\nCapital         Should be credited Should be debited\n\nAs for income account always the recording should be made to the credit side while all expenses account will always be debited.\n\nend qoute
191105
to determine if you passed a credit for every debit. if it does not balance then you missed passing a debit or credit somewhere in your business.
847418
it depends on what side of the coin you are.\n\nin your own accounting records, a debit balance most likely means that someone owes you money.  the person who owes you money will have a credit balance in their own accounting records.\n\nconversely, in your own accounting records, a credit balance most likely meanst that you owe someone money.  the person who you owe money to will have a debit balance in their accounting records.
617661
Sourabh is correct on the consumer end.\n\nIf you are asking about the salary for the company paying you, this is how it works.\n\nThe company debits salary expense and credits salary payable.  The Payable is a liability that the company owes to it employees and it recognizes that it owes this money.  Once that money is paid, the salary payable account is debited (lowered) and cash is credited (lowered).\n\nI am not sure if that is answering your question or not.
220610
its a debit card , so cash for sure.
434744
Shift your paradigm and think of how buyers purchase.  The role of the debit card as a replacement for cash, check, and charge.  How does the debit card better facilitate buying and the elimination of debt?  How does a debit card affect the buyers purchasing propensity?
1063956
If they do - change your bank. I've never had a charge for using a debit card. If I withdraw money from ATMs not associated with my bank - then there is a charge. If you use a credit card to withdraw money - you pay a charge and interest from the date of withdrawal. In the UK, it's wise to use a credit card for purchases over £100 because you get legal protection if something goes wrong.
696662
It means to be bound by the debt which is carried over to the next life. 'As you sow, so you reap' the universal law is its basis. The cause decides the effect. So also, every human being by his deliberate actions creates an account of his/her actions and at the end of one life the debit/credit in the balance sheet is carried over to the next life. You are bound by your own action and its consequences. What ever has been happening in this life can be explained by cause and effect theory now and here or it can be attributed to the previous life.
1160165
An intraday debit is a transaction settlement account at a clearing bank and/or at a clearing house or central bank.  It is usually an overdraft which is covered.  In your case, it just sounds like the check cleared through the account.
1152537
None. You know how a regular bank will credit your account if you deposit money and then deduct your spendings and perhaps save you from overdraft?? Well, Credit Unions work opposite, they deduct your spendings, charge you if you used too much money, and then clear your deposit. How's that for someone who wants to "help" you?
604171
You buy.\nThe bank pays the merchant (less a discount)\nYou pay the bank.\nThe bank pays the credit card issuer a fee\nThe merchant pays the credit card issuer a fee\n\nWorks well if you don't abuse it!!
439029
When you use a "debit card," you have a choice to pick debit or credit.  If you pick debit, you enter your pin number and the charge is registered immediately from your checking account.  If you pick credit, you will sign the receipt usually, and the charge may take a day or so before it is deducted from your checking account.\nFor sure, do NOT ever pay a fee for using your card such as an ATM.  It is your money so no need to ever waste any.  Watch your pennies.  Usually banks charge no fees from at least their own ATMs.
923352
When the debit card is used as a credit card I notice that the monies are withdrawn without being earmarked.  When the card is used as a debit card (when the PIN is entered) it gets earmarked immediately and withdrawn as the payment is processed through the clearinghouse.  \n\nBut I have also noticed that when I use my debit card at a restaurant the transaction is never earmarked, it just goes through.