answersLogoWhite

0

In accounting, charges represent money going out of an account, while credits represent money coming into an account. Charges decrease the account balance, while credits increase it.

User Avatar

AnswerBot

5mo ago

What else can I help you with?

Continue Learning about Finance
Related Questions

Are gains considered credits or debits in accounting?

In accounting, gains are considered credits.


What is a balancing figure?

A balancing figure is used in accounting to reconcile discrepancies between accounting records, typically found during the preparation of financial statements. It represents the difference between the debits and credits in an account, which must be identified and resolved to ensure that the financial statements are accurate.


What is the difference between credits and units?

nothing.


What is the difference between a net debit and a net credit in accounting transactions?

In accounting, a net debit occurs when the total debits exceed the total credits in a transaction, indicating an increase in assets or expenses. On the other hand, a net credit happens when the total credits exceed the total debits, showing an increase in liabilities, equity, or revenue.


What is the difference between promo credits and real credits on imvu?

Nothing, we just can't gift promo credits. ;3.


What is the first step in bookkeeping?

Learn the difference between credits and debits.


What is the difference between the credits at the front of the movie and the ones at the back?

Nothing


What is the difference between a MSEE and BSEE?

Two years and about 60 credits.


What am i considered with 58 credits in accounting?

A student.


How do debits and credits affect the accounting equation?

The debits in the accounting equation increase the amount that appears on the left side. The credits in the accounting equation do the opposite and increase any amount that appears on the right side.


Can you explain the difference between debit and credit in accounting?

In accounting, debit and credit are two sides of the same transaction. Debit represents money coming into an account, while credit represents money going out of an account. Debits increase assets and expenses, while credits increase liabilities, equity, and revenue.


What is The Difference between total debits and credits to an account called?

The Account balance.