A payment can create a credit balance on an account when the amount paid exceeds the total amount owed. This results in the account having a positive balance, which can be used towards future purchases or refunded to the account holder.
yes anyone can make a payment on someones account if they know the account #
"Cr Crd Pmt" on a bank statement typically stands for "Credit Card Payment." It indicates a transaction where a payment has been made toward a credit card balance. This entry reflects a reduction in the outstanding balance of the credit card account and may appear when you make a payment from your bank account to your credit card issuer.
At this site you can check your account balance, transfer funds from one balance to another, apply for a line of credit and even make an online payment on your existing credit card account.
Yes. You've moved the debt from one account to another, so the first account would recognize the transfer as a payment and the second account would treat it as a new debt.
To calculate the monthly credit card payment, you can use the formula: Payment (Balance x (Interest Rate/12)) / (1 - (1 Interest Rate/12)-Number of Months). This formula takes into account the balance on the card, the interest rate, and the number of months you want to pay off the balance.
As accounts payable has a credit balance as normal balance so it has credit balance until not paid but it may have debit balance as well in case when payment is made for more than actual accounts payable which create negative balance or debit balance.
yes anyone can make a payment on someones account if they know the account #
Yes, account dividends typically have a credit balance. In accounting, dividends declared are recorded as a liability until they are paid, and once paid, they reduce retained earnings. Therefore, until they are distributed, dividends represent an obligation and show as a credit balance in the dividends payable account. After payment, the balance reflects a reduction in equity rather than a credit balance.
"Cr Crd Pmt" on a bank statement typically stands for "Credit Card Payment." It indicates a transaction where a payment has been made toward a credit card balance. This entry reflects a reduction in the outstanding balance of the credit card account and may appear when you make a payment from your bank account to your credit card issuer.
At this site you can check your account balance, transfer funds from one balance to another, apply for a line of credit and even make an online payment on your existing credit card account.
Because you may have changed the account to a savings :L
Yes. You've moved the debt from one account to another, so the first account would recognize the transfer as a payment and the second account would treat it as a new debt.
When you transfer money from your checking account to your credit card, you make a credit card payment. If you do not have a balance owed on your credit card, then you will have credit or a positive balance on your card.
Overpayment Payment in advance Credit note issued Deposit received
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
Is a credit balance in a vendor subsidiary account an unpaid balance owed?