1. In accounting, an entry which either reduces an asset or increases a liability....
The side of an account on which are entered all items reckoned as values received from the party or the category named at the head of the account; also, any one, or the sum, of these items; -- the opposite of debit; as, this sum is carried to one's credit, and that to his debit; A has several credits on the books of B.
To enter upon the credit side of an account; to give credit for; as, to credit the amount paid; to set to the credit of; as, to credit a man with the interest paid on a bond.
Upon approval, United will extend credit to customers. Payment is due within 10 days of billing. See Account Number.
An accounting entry that increases liabilities and revenues and decreases assets and expenses.
A sum of money or equivalent purchasing power available for a person's or business use. A positive balance in a bank account. The practice of making goods or services available before payment. Entries on the right hand side of an account.
An accounting entry which results in a decrease in assets, or an increase in liabilities or net worth.
in accounting, is an accounting entry system that either decreases assets or increases liabilities.
An entry to the record of an account to represent the transfer or placement of funds into the account.
An increase in a deposit account (such as the deposit of a paycheck), or a payment made to reduce the outstanding balance on a loan.
The process of reimbursing a cardholder's account for returned merchandise.
(1) The financial worthiness of a borrower. The history of whether this borrower has met financial obligations on time in the past. (2) an accounting term designating money received or receivable, as opposed to debit which is money paid or payable.
An amount, such as a deposit, added to a bank balance.
A transaction that credits a destination account. DDI (Direct Debit Instruction) The authority signed by the customer allowing the originator to collect Direct Debit payments from the customer's account.
A reflection of past payment history; a positive amount added to the transaction balance.
A transaction that credits a destination account 35
an accounting term used to describe an entry which increases an income, liability or net worth account, and decreases an expense or asset account.
Commonly used in an accounting or bookkeeping T account (For instance, left side debit would show increases as indicated and right side would show decreases [deductions or withdrawals] as indicated). For further clarification; refer to a T account.
Your financial standing or the sum of money at your disposal at a bank or in a savings account etc.
Increases in an account (such as a deposit made to the account).
One side of the double-entry bookkeeping process, representing negative figures on the Balance Sheet (reductions in assets; increases in liabilities and capital), and income on the Profit and Loss report.
Money which is borrowed to be paid back under as arrangement with a lender. Also an amount that is paid into an account as opposed to a debit
Refers to that part of double entry bookkeeping that mirrors debits.
an arrangement to receive goods or services but pay later; an amount of money paid into a batik account; an amount entered on the right-hand side of an account, recording a payment received; to make such an entry.
A transaction that transfers money from the merchant to the cardholder's account when a customer returns merchandise to the merchant.
A Credit on your statement reflects any monetary transaction other than a payment that decreases your Outstanding Balance.
The maximum credit allowed to a borrower on an account.
Money received in an account either from a deposit or a transaction that results in increasing the account's cash balance.
Entry recording an increase to a liability or ownerâ€™s equity or revenue, or a reduction to an asset or expense. Credits are recorded in the right hand column of an account or a two-column book. Opposite of debit.
1. in finance, the availability of money. 2. in accounting, a liability or equity entered on the right side of the ledger.
an amount issued by the merchant to the cardholder if goods and services are not satisfactory
an accounting entry on the right or bottom of a balance sheet. Usually an increase in liabilities or capital, or a reduction in assets. The opposite of credit is debit. Each credit in a balance sheet has a balancing debit. Credit has other usages, as in "You have to pay cash, your credit is no good." Or "we will credit your account with the refund."
A financial term that refers to an increase in a deposit account (such as a deposit made to the account). See debit.
An entry or balance on the right side of an account.
In bookkeeping, a type of transaction. Credit entry in an asset account decreases the balance and in a liability account, a credit entry increases the balance.
A credit is a Signio transaction type that transfers funds from the merchant's account back to a customer's credit card. It is the only way to handle a refund after a transaction has been settled. This type of transaction is usually performed when a product is returned to the merchant. A credit can be performed in the Transaction Terminal area of Signio's Manager or through a merchant's storefront application. Check refunds can only be done via credit card or through a non-electronic, paper check. A credit can only be issued to an account that has not had a previous authorization.
A credit entry in a journal voucher is indicated by entering posting key 50, the code for a credit line item.
Credit analysis Credit balance
A charge type that debits the merchant and transfers the total to a credit card (See also independent credit and dependant credit).
A column in a journal or ledger to record the 'From' side of a transaction (eg. if you buy some petrol using a cheque then the money is paid from the bank to the petrol account, you would therefore credit the bank when making the journal entry).
All accounts have a left side (debit) and a right side (credit). To help ensure the accuracy of the accounting records, all events and transactions are recorded with an amount recorded to the left side of the accounts and an equal amount to the right side of the accounts. This is referred to as double entry accounting. If debits and credits do not equal, an error has occurred.
More commonly referred to as a "refund", this is a transaction initiated by the acquiring bank that transfers money out of the merchant account and back into the credit card holder's account.
The amount you receive for placing a trade. A net inflow of cash into your account as the result of a trade.
A transaction resulting in a credit to a cardholder's account.
Any entry on or to the right side of a balance sheet, T-account, or journal entry. The Local School Accounts that normally carry a credit (right side) balance include School Activities (100), Revenue Raising (300), Student Activities (400), and Trust and Agency (500) accounts. Increases to these accounts would be credits while decreases would be debits.
(as in 'having a credit on your student account', not academic credits) A 'credit' in your student account occurs when your semester charges have been paid and there is still funding left in your account. Credits are returned to the student unless you request that the Accounting Office hold any credits in the student account. This credit may be accessed by contacting the Accounting Office. Students sometimes use 'credit' monies to help pay for books or living expenses. Many request that credits are held in their account to help pay the next semester's charges.
A credit is: money received;Â Â Â Â Â Â Â Â income from selling goods or services; orÂ Â Â Â Â Â Â Â an entry on the right-hand side in a double-entry bookkeeping system.
how much cash a user has in their adwall.biz account See also: withdrawable credit
A transaction that reduces the amount you owe on you student account. Examples include payments, scholarships, loans, and the reduction of charges from decreasing class hours. If the amounts exceed the balance due on the student account, this results in a credit balance which the University owes you.
The balance (as in a bank) in a person's favor.
A contractual agreement in which a borrower receives money, with the agreement to repay the lender at some date in the future in accordance with agreed terms and conditions. Credit is also used to mean a positive balance on an account. For instance, an account may be credited with interest.
Nullification of an authorized transaction (sale) that has not been settled. If supported by the card issuer, a reversal will immediately "undo" an authorization and return it to the open-to-buy balance on a cardholder's account. Some card issuers do not support reversals. Glossary Terms - D
A deposit to your account made by the bank rather than yourself.
On your bank statement, 'credit' represents funds that you have deposited into your account. The opposite of a credit is a debit. However, 'credit' also means money that you borrow from a financial lender, like a bank.
The return of funds to a cardholder's account for a sale that has already been authorized and settled.
Electronic payment Term associated with ACH-Credit. The action taken when the taxpayer's bank transfers a tax payment to the Department's bank account; the Department's account is credited.
A credit to a Visa account for a partial amount or for the full amount of a purchase transaction that the merchant submits to the Acquirer financial institution.
A claim for funds by the cardholder for the credit of his account. At the same time it provides details of funds acknowledged as payable by the acquirer (and/or the card acceptor) to the card issuer.
With savings or checking accounts, an amount added to a savings or checking account balance, either through deposits or interest earned over time. In other cases, "credit" is another name for a loan.
Your history of handling financial obligations and banking accounts.
a payment authorized by the buyer in a transaction that places funds into a sellerâ€™s account. Also see debit.
An increase in income or a decrease in expense. For balance sheet accounts, an increase in fund balances or liabilities, or a decrease in asset accounts.
See the entry for “Refund
An accounting entry that is either: an addition to a liability account; a revenue in a fund balance account; a deduction from an asset account; or a reduction of expense in a fund balance account.
1. The ability to access money, to use money prior to earning it. 2. The accounting term for a liability or for equity, entered on the right side of the ledger. 3. As a verb, to allot for the benefit of a person (i.e. You must credit the Purchaser on closing for the deposit paid).
An entry on the right side of the account.
A transaction that is posted to an account which decreases the balance of the account. For example, a payment received by the Department is posted as credit.
Entry on the right side of a DOUBLE-ENTRY BOOKKEEPING system that represents the reduction of an ASSET or expense or the addition to a LIABILITY or REVENUE. (See DEBIT.)
(1) Time allowed for the payment of goods and services; (2) Power to buy or borrow on trust; (3) In bookkeeping the right hand side of an account. Opposed to a debit; (4) A deposit against which one may draw.
A transaction to reverse a previously authorized and settled charge placed against a cardholder's account.
Money received in an account. A credit transaction is one in which the net sale proceeds are larger than the net buy proceeds (cost), thereby bringing money into the account. See also Debit.
(1) a bookkeeping entry that increases the balance in a member's account (deposits and dividends are examples of credit entries) (2) an arrangement to receive cash, goods or services now and pay for them in the future
An entry on the right side of a ledger account.
Obligations that are due or are to become due to a person. In closing statements, that which is due and payable to either the buyer or seller--the opposite of a charge or debit.
Credit can have different meanings. It can be a transaction on a bank account that shows money going into the account. It can mean the amount of money you have. If your bank account is $200 in credit, it means you have $200 in the account. Credit also means buying goods and services now, but paying for them later. For example, buying something with your credit card and paying it back later, or taking out a home loan to buy a house. See 'Credit card', 'Credit limit' and 'Debit'.
With regard to an escrow closing statement; a credit increases the account balance of the buyer or seller.
Lender's agreement to provide funds or apply money to an account owned by the customer.
A non-chargeable demurrage day earned on cars released during an accounting month.
the amount in your online Bingo account. You may choose to withdraw some if there is a lot there, or add to it if it is low. You must have credit to play online.
See on: Wikipedia Investopedia A contractual agreement in which a borrower receives something of value now, with the agreement to repay the lender at some date in the future. Also, the borrowing capacity of an individual or company. An accounting entry system that either decreas.
This refers to those amounts posted to the right hand column of an account. Generally, a credit is used to record (a) a decrease in an asset and (b) an increase in a liability or shareholders' equity.
To enter an amount on the right side of an account. Normal entries to revenue accounts are credits. Liabilities normally have credit balances. To learn more, see Explanation of Debits & Credits. To Top