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Does debit on your british gas bill mean you owe them money?
Yes. Credit means that you have overpaid and they owe you money.
What does being indebted to mean?
It means that you owe money
How to understand the easiest way the difference between debit and credit?
Using your debit card takes money you already have, directly out of your bank account. It works as an instant check, if you have no money in your account, you cannot buy with your debit card. A credit card uses money from the company that gave you the card to pay for purchases. You must pay this back to the company at the end of the month, or they will charge you interest on the money you owe them.
What is the difference between debt and a withdrawal?
Debt is when you owe money. When you withdraw money, you are taking from money you already have. The reason for this question is that some confuse the word "debt" (money owed) with "debit" (withdrawing money). You use a debit card because there is money to withdraw, but if you are in debt on that account, the card would not work. One single letter makes a lot of difference.
What does it mean when a friend gives you money?
It means you owe them twice the amount
What does it mean if you are in debit?
It means you have money. But if you're in DEBT, you owe money.
Does debit on your british gas bill mean you owe them money?
Yes. Credit means that you have overpaid and they owe you money.
Does debit on a bill mean they owe you or do you owe them?
you owe them :(
What does it mean when an account is having a debit balance?
It means you owe money, you passed your limit.
What does I owe you some debit mean?
"I owe you some debit" is incorrect phrasing. It seems like a mix-up of two different concepts. "I owe you" means you need to pay back money you borrowed, while "debit" refers to a transaction that takes money out of an account. The correct phrase may be "I owe you a debt."
What does a minus balance on acredit card mean?
If your credit (not debit) card has a negative balance on your statement, then there is an overpayment (you paid more than you owe). So now they owe you money. This is usually applied towards future charges.
What is notes payable debit or credit?
Credit. It goes towards your credit balance. It's money you owe.
What is the primary difference between a credit card and debit card?
credit mean were you take money debit is what you give money
What is the primary difference between a credit card and a debit card?
credit mean were you take money debit is what you give money
Is a credit issued to a customer a debit or credit to Accounts Receivable?
Accounts Receivable is classified as an Asset. Assets have a normal Debit balance. If you mean to say that the customer has paid off some of the amount in their account, then the amount is listed on the Credit side and in the Debit side of the Cash account. If they have bought supplies on the account (owe you money) then the amount is put into the Debit side.
What are credit and debit balances in accounting?
A credit balance shows up on a vendor statement when you have returned defective goods, for example. You can call the vendor and request a check for that amount or apply it to any outstanding balance that you owe that vendor. Do you mean "debit memo" instead of debit balance? A debit memo is sent to a vendor to let it know that you are making a deduction from what you owe to cover defective goods, a short shipment, a price reduction, or some other matter. When the vendor receives the debit memo and agrees with your reduction, it will send you a credit memo. And then, you may have a credit balance on your account- depending on whether or not you owe them any money.
What does the idiom ' in the hole ' mean?
to be in dept , to owe money or to lose money
