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banking question

zefal · 2014-04-23 22:45:50

Dont know if Im posting in the right forum .. when a bank says it will credit my account does this mean i will receive money or money is taken out .. as it is an asset and it is being credited does this mean it will be reduced? and debiting will increase it

23-04-2014 11:45PM

#1

zefal

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Join Date: March 2012

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Dont know if Im posting in the right forum .. when a bank says it will credit my account does this mean i will receive money or money is taken out .. as it is an asset and it is being credited does this mean it will be reduced? and debiting will increase it

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#2 24-04-2014 01:14AM

jjjd

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Posts: 677

zefal wrote: »

Dont know if Im posting in the right forum .. when a bank says it will credit my account does this mean i will receive money or money is taken out .. as it is an asset and it is being credited does this mean it will be reduced? and debiting will increase it

Don't worry, when your bank credits your account it means more money for you. In effect they owe you more money now, hence it is an increase in a liability from their perspective. That's why they credit your account.

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