Credit balance: Difference between revisions
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''Financial accounting. '' This is either a liability or capital within the balance sheet, or revenue within the profit and loss account (or income statement). | |||
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''Banking. ''In banking a credit balance - in the bank's records - is one which stands in favour of the customer. The bank owes money to the customer. | |||
(Contrasted with a debit balance in the bank's records. Being a balance standing in favour of the bank.) | |||
Revision as of 12:29, 22 June 2016
1.
Financial accounting. This is either a liability or capital within the balance sheet, or revenue within the profit and loss account (or income statement).
2.
Banking. In banking a credit balance - in the bank's records - is one which stands in favour of the customer. The bank owes money to the customer.
(Contrasted with a debit balance in the bank's records. Being a balance standing in favour of the bank.)
