A "debit" is a subtraction and "DDA" means checking account. You should contact your bank directly for information about exactly WHY your account was debited, but here are some possible reasons:
- You requested a transfer to another account from your checking account, and a DDA debit form was used to complete the transfer
- You are overdrafted on another account or owe the bank money and they have recollected their loss by debiting your checking account
- You deposited checks and totaled them wrong on the deposit slip, so the bank has made an adjustment to reflect the correct total
- You are being charged for another reason, such as a returned check
DDA=Demand Deposit Account....(ex, checking account, savings account, etc) GL=General Ledger.... Credit=Positive Entry, Entry going -in-, opposite of debit....
DDA stands for Demand Deposit Account. It is your deposit account. A term used widely in payments industry
DDA stands for demand deposit account. It is a bank account in which you can deposit and withdraw money. A form of a demand deposit account is a checking account.
No a minor can't have a debit card because in order to have a debit card, he/she has to have a valid checking account. How can a minor have a checking account when banks don't let you open a checking account until you are 18?
An ATM withdrawal or a cheque withdrawal or a swipe at the grocery store etc are all debits on the checking account. Any transaction, that reduces the money in our account is a debit.
It is your checking account , but it is debited, not credited.
A checking account gives you access to your money from an atm, and various grocery store checkouts. Unlike a savings account a checking account is meant for quick withdrawals, you can access money from your checking account using a debit card and pay for items any where a debit card is accepted.
A debit is what occurs when you reduce a credit balance in a liability account such as a checking account. A debit can occur using a debit card, endorsed check, ATM withdrawl or withdrawl for the bank teller.
Yes, you may have a debit card at any age, assuming the checking account is in that persons name.
They are one in the same with the exception that with cash you have the money in hand. Debit is a card that is linked to your checking account and you debit your money from your account but it is the same as cash in a store.
i was wondering bout the same thing at first til i asked. it still depends on the company youre working for. i myself dont have a checking account but get my pay as direct deposit. they wire it through my savings account instead.
Yes a lot of people tend to overdraw their checking account because they do not know how to balance their checkbook.
If you are a company and purchasing software for the company then the entry would be a credit to the checking/cash account and then a debit to an expense account.
If this is in reference to a debit card, the checking account number is not found on the card, for obvious reasons.
In a checking account, it means to take money from the account in order to pay a bill or money owed to a merchant.
can someone help me with this answer
Debit cash / bankCredit interest income
Yes. The debit card is usually linked to an account and the moment the transaction is approved at the POS terminal the amount gets debited from our account. POS: Point of Sales. (the place where you swipe your debit card)
Debit cards were first issued in 1978 by the First National Bank of Seattle. Debit cards connected to the cardholder's checking account with their available balance.
form_title=Set up a Checking Account form_header=Having a checking account will help you keep track of your money. Does your company offer direct deposit?= () Yes () No Would you like a debit card?= () Yes () No What other features would you like with this account?=_
Debit cards can be used many places. A debit card is basically an electronic form of a check. When one deposits money into his/her checking account, this increases the amount in that account. In order to purchases goods and/or services, the debit card may be used. This will decrease the amount in that checking account. Most places that accept credit cards as a form of payment, will accept debit cards as well. If not, the debit card may be used at an ATM to retrieve cash.