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No - no more than the balance of your credit card does. Individual returns are not reflected on your credit report, only the balances of cards, high limits, etc.
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Does bad credit score in the US effect the credit score in Canada?
Technically, no. The Canadian credit bureau does not share information with the US credit bureaus. However, a Canadian creditor can certainly check with a US credit bureau to check your credit history.
If you move from Canada to the US and have bad debt in Canada will it effect your credit in the US?
When a Canadian moves to the U.S. their credit history in Canada is irrelevant. They will have no credit in the U.S. though, which can be worse than having bad credit. hi
How long does using a credit consolidation company negatively effect your credit history or rating?
Many lenders look at credit counseling as a bankruptcy. If you have debt that is managed and paid by a CCC and the agreed upon repayment schedule is being met then it should not effect your credit score. However, if you plan to buy a house, most mortgage lenders will turn down borrowers in credit counseling.
How do i get credit history?
You can get credit history by having a credit card or line of credit. Anything that reports to the credit bureaus that you are paying each month. You can also get some credit accounts added to your credit history by becoming an authorized user on a spouses or family members account. All this doesn't matter if it isn't paid on time, so a credit history length with a good payment history will help your credit score.
What is mean by credit return?
A credit return is when you get your funds returned to you after already paying for something. Credit returns are also sometimes called refunds.
What do you debit and credit for purchase returns?
Debit the supplier Credit the Purchases Returns account
Will returning item bought on a credit card affect your credit history?
No. The merchant may drop you from his preferred customer list if he notices a lot of returns, but the credit card company doesn't care.
Is purchases returns a debit or credit balance?
It's a credit - if a company buys something - then returns it, they get credited with the money they have spent.
What account is debited when a company returns merchandise to a vendor on credit?
credit
Does bad credit score in the US effect the credit score in Canada?
Technically, no. The Canadian credit bureau does not share information with the US credit bureaus. However, a Canadian creditor can certainly check with a US credit bureau to check your credit history.
If you move from Canada to the US and have bad debt in Canada will it effect your credit in the US?
When a Canadian moves to the U.S. their credit history in Canada is irrelevant. They will have no credit in the U.S. though, which can be worse than having bad credit. hi
What is sales returns and allowances classified as?
An income account. Debit Returns & Allowances, Credit Cash.
What is the original document for sales returns?
Credit note
Sales Returns and Allowances normal balance?
credit
What type of account is purchase returns?
credit card
What is the journal entry for sales returns and allowances?
Debit: Sales Returns & Allowances Credit: Accounts Receivable :)
What is the Journal entry for a customer returning merchandise delivered in poor condition?
[Debit] Sales returns [Credit] Accounts receivable
