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Business Accounting and Bookkeeping

Deposits go on debit column or credit column?


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Answered 2013-01-11 04:39:34

Debit the account that is receiving the cash and credit the account that the cash is coming from. Because debits always equal credits, every transaction (including a deposit) must have equal debits and credits.

For example, if you are depositing $100 received for a sale, debit the checking account and credit the revenues or sales account. If you are depositing $100 that was received from a customer to pay off an accounts receivable, then debit the checking account and credit that customer's account in accounts receivable.

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Yes, this can be done in conjunction with checks or cash. You would go to the ATM, insert or swipe your card, and choose the deposit option. It will then allow you to insert cash or checks, and it will credit to your account.


go to sears.com . note you will need a credit or debit card


You can apply for a credit card almost anywhere. You can choose to go through your bank, or another company, like American Express. Almost all retailers offer a credit card with shopping rewards. To get a debit card, go through your bank.


Some disadvantages of reloadable debit cards are that it relaly doensnt help your credit and it is sometimes a hassle to go to the store everytime you have to reload it


The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.


amazon. if you don't have a credit card or debit card then go to walmart or gamestop


Prepaid debit cards or debit cards tied into your bank account with no - repeat, NO - overcharge/overdraft protection. Do NOT go for credit cards with annual payments or interest.


Assets are real accounts and according to accounting debit and credit rules. Debit what comes in and credit what goes out. Assets has debit account by nature so when there is an increase in assets it is debited to assets accounts Liabilities are credit accounts because these are burden of the business to payback to their original owners that's why if liabilities increases it is credited to liablities accounts because according to rule mentioned above credit what goes out and liabilities are those items which ultimately need to go out from business at the time of dissolution of business. ---- The above so called rule is not accurate. It is entirely inaccurate to say that debit is what comes in and credit it what goes out. This can be proven quickly by looking at expense accounts. An expense to a company is something you "pay out", however all expense accounts have a DEBIT balance and are increased with Debits, not credits. Revenue is a CREDIT account (money received by the company, which is money coming IN) it is increased by a Credit, not a debit. According to the accounting equation Assets = Liabilities + Owners Equity When a company receives money for a service or sale, they will debit cash (to increase) and credit Revenue (to increase). In double entry accounting for every debit there is an equal credit. Assets have a debit balance - Liabilities have a credit balance + owners equity also a credit balance For example, if you have $19,000 in assets (debit balance) you need one or more credit balance accounts that equal this total. This could be for example $19,000 (assets) = $5,000 (liabilities) + $14,000 (owners equity)


if you're looking for a good debit card you can go to rushcard.com and use the referral code moneymaker this is a prepaid visa card you can also get direct deposit on it. there is no credit check and you'll get it within a week. if you want good credit cards or prepaid or debit go to http://www.getgoodcredit.newcreditapplications.com it has major credit card companys and there is something for everyone bad credit no credit business students prepaid everything you're looking for they have and its not hard to get approved i have a few myself.


No purchase can go through if you don't have funds on the card. Regardless of whether it's a credit or debit card, both have limits that mean the same thing: "You don't have funds, ya' broke toolbox, declined..." The limit for your debit card is a floor of 0, the limit of your non-existent credit card seems to be a ceiling of 0, but could be much higher if you weren't as dense as your question implies you are.


if you're looking for a good debit card you can go to rushcard.com and use the referral code moneymaker this is a prepaid visa card you can also get direct deposit on it. there is no credit check and you'll get it within a week. if you want good credit cards or prepaid or debit go to http://www.getgoodcredit.newcreditapplications.com it has major credit card companys and there is something for everyone bad credit no credit business students prepaid everything you're looking for they have and its not hard to get approved i have a few myself.


You can purchase gas credit cards at places like grocery stores and inside of gas stations. You could also choose to go online, or use your actual credit or debit card.


the pro is that you can buy whatever you want whenever you want. however the cons is that you can easily go into debt. i suggest you to go with a debit card first and if you are good at controlling your money then you should go for a credit card later on.


no, it does not.Depends - there are pay as you go visa or the so called prepaid debit cards, which have features that allow you to build credit over period. For example - with AccountNow Prepaid Visa or master card: http://www.accountnow.comyou could be eligible to build credit history if you sign up for Direct deposit and bill pay with your debit card, as all your bill payments get reported to the major credit bureaus.


at least one to two weeks depending on who you apply through. if you're looking for debit cards you can go to rushcard.com and use the referral code moneymaker this is a prepaid visa card you can also get direct deposit on it. there is no credit check and you'll get it within a week. and credit cards or debit you can go here http://www.getgoodcredit.newcreditapplications.com it has major credit card companys and there is something for everyone bad credit no credit business students prepaid everything you're looking for they have and its not hard to get approved i have a few myself.


Credit card debt doesn't go away easily or fast. It takes much effort and a lot of patience. Patience is the most important. You cannot spend any un-necessary purchases on credit or debit. Things like electronics or appliances should be avoided until debt is little or none at all.


Prepaid credit cards are essentially the same as debit cards, just with a credit card company name attached. You only get to spend the amount you have deposited, or you may go over by a set amount but then you start having to pay fees.


you can apply now there are some companys who will approve you with bad credit. if you're looking for a good debit card you can go to rushcard.com and use the referral code moneymaker this is a prepaid visa card you can also get direct deposit on it. there is no credit check and you'll get it within a week. if you want good credit cards or prepaid or debit go to http://www.getgoodcredit.newcreditapplications.com it has major credit card companys and there is something for everyone bad credit no credit business students prepaid everything you're looking for they have and its not hard to get approved i have a few myself.


Just go for accountancy, but trust me it's hard to be an accountant... Debit, credit, blah, blah, blah...


it really doesnt matter now and days it also depends on what type of credit care you're applying for if you're looking for a good debit card you can go to rushcard.com and use the referral code moneymaker this is a prepaid visa card you can also get direct deposit on it. there is no credit check and you'll get it within a week. if you want good credit cards or prepaid or debit go to http://www.getgoodcredit.newcreditapplications.com it has major credit card companys and there is something for everyone bad credit no credit business students prepaid everything you're looking for they have and its not hard to get approved i have a few myself.


yes you can get a debit card when you are 13 but you have to get it linked from your parents/guardians. but you can not get a credit card because the banks think that 13 year old are responsible enough, which i can agree with for the credit card but that you can not get a single debit account that is not linked to your parent/guardians account, i think is diabolical.Also you can go to stores (wal-mart,speed way) and buy reloadable gift cards.


Correct. Allowance for Doubtful Accounts is a "Contra-Asset" which means it reduces your net assets on the balance sheet. While most assets increase with a debit and decrease with a credit, Contra-assets increase with credits and decrease with debits.


Sounds like you are trying to balance off a T-account.The easiest way to do this is:Sum the debit and credit columns separately;Take the smaller sum from the larger sum to find the balance;Put this balance in the column with the smaller sum with description "Balance c/d";The two columns now total the larger sum (found in step 1), so write this as the total for each of the columns;Under the total in the column which originally had the larger sum write the balance (found in step 2) with description "Balance b/d".If there is a zero balance found in step 2, there is no balance carried down, the t-account already balances and no figures other than the total need be written. However, if you want to have an opening balance written, then put the "balance c/d" in the opposite column to the type of balance the account normally has (eg an asset account normally has a debit balance, so the balance c/d (of 0) would go in the credit column) above the totals and the "balance b/d" goes in the normal column (eg for an asset account this would be in the debit column) under the totals.


BillGuard for Passbook is now integrated with Apple's Passbook, offering consumers a secure way to get on-the-go notifications of all their credit and debit card transactions in one place. Specifically, BillGuard for Passbook brings your credit/debit card transactions and balances to Passbook and notifies users of any questionable transactions via real-time alerts.



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