Credit balance: Difference between revisions
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* [[Liabilities]] | * [[Liabilities]] | ||
* [[Profit and Loss account]] | * [[Profit and Loss account]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
Revision as of 09:20, 1 October 2020
1.
Financial accounting.
This is either a liability or capital within the balance sheet, or revenue within the profit and loss account (or income statement).
2.
Banking.
In banking a credit balance - in the bank's records - is one which stands in favour of the customer. The bank owes money to the customer.
(Contrasted with a debit balance in the bank's records. Being a balance standing in favour of the bank.)
