06-28-2006, 07:55 PM
[quote]<i>Originally posted by sam</i>
<br />LO AIK AUR AA GAYE MARKET MEIN
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Debit means commes in.
Credit means goes out.
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If Debit means comes in then why do bank credit the account when the money comes in the account ...
Because in the Bank's books deposited amount is debited to their Deposit A/C and Credit to Client Current/saving A/C which is payable, Bank Statment is Client A/C Statement related to Bank.
In your books,If you are a Client, your deposit will be debited to your Bank A/C and to be Credited to your client A/C, in your books, who is paying to you against recievable.
I think it is clear now, if I made mistake, really I am sorry for that.........
<br />LO AIK AUR AA GAYE MARKET MEIN
--------------------------------
Debit means commes in.
Credit means goes out.
--------------------------------
If Debit means comes in then why do bank credit the account when the money comes in the account ...
Because in the Bank's books deposited amount is debited to their Deposit A/C and Credit to Client Current/saving A/C which is payable, Bank Statment is Client A/C Statement related to Bank.
In your books,If you are a Client, your deposit will be debited to your Bank A/C and to be Credited to your client A/C, in your books, who is paying to you against recievable.
I think it is clear now, if I made mistake, really I am sorry for that.........
