Debit balance and Nominal Ledger: Difference between pages

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#''Financial accounting.'' In financial accounting a debit balance is an asset within the balance sheet, or an expense within the profit and loss account (or income statement).
''Accounting''.
#''Banking.'' In banking a debit balance - in the bank's records - is one which stands in favour of the bank.  The customer owes money to the bank.  Also known as an overdrawn balance.  (Contrasted with a credit, or positive, balance in the bank's records.  Being a balance standing in favour of the customer.)
This is a summary accounting record of the balances in each account split into the following categories: Income, Expense, Asset, Liability and Capital.


== See also ==
* [[Trial balance]]


== See also ==
* [[Assets]]
* [[Balance sheet]]
* [[Credit balance]]
* [[Debit]]
* [[Profit and Loss account]]

Revision as of 14:20, 23 October 2012

Accounting. This is a summary accounting record of the balances in each account split into the following categories: Income, Expense, Asset, Liability and Capital.

See also


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