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Home > QFINANCE Dictionary > Definition of debits and credits

Definition of

debits and credits

Accounting

record of firm's financial transactions figures entered in a company's accounts to record increases and decreases in assets, expenses, liabilities, revenues, or capital

debits and credits - Related Articles
  • The Credit Crunch Was Like an Atomic Bomb; It Will Profoundly Change How We Think and Behave

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    to be setting up a company that issues debit cards. Now, if you were to chart the issuance of credit and debit cards in the United States and United Kingdom last year, you would find that for the first time ever the number of debit cards exceeded the number of credit cards. That is ordinary people saying “I am
    By William Hopper

  • Building an Efficient Credit and Collection Accounts System

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    transfer, for example, which is cheaper and faster than clearing checks. internet banking now also enables direct debits to be set up quickly. Many companies are also using dedicated software to manage their credit and collection accounts, which reduces dependence on staff or external collection agencies.

  • Business Implications of the Single Euro Payments Area (SEPA)

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    SEPA introduces two new payment instruments to be provided by banks for their customers: SEPA credit transfers (launched in 2008) and SEPA direct debits (scheduled to be introduced by November 2009). These new payment instruments are identical across SEPA. They provide significant payment
    By Juergen Bernd Weiss

  • The Payment Services Directive: A Crucial Step Toward Payment Harmonization Across the EU

    Best Practice

    level, such as Regulation EC2560/2001, and the launch in 2008 of the first Single Euro Payments Area (SEPA) instrument for handling credit transfers as well as of the SEPA Cards Framework. In November 2009, SEPA Direct Debit Schemes (Core and B2B) were launched
    By Björn Flismark

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Definitions of ’debits and credits’ and meaning of ’debits and credits’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’debits and credits’ and other financial terms with our online QFINANCE Financial Dictionary.

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