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bank entry

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41 Points Posted on 28 December 2018
If we receive amount in bank then it is shown as credit
but
what comes in is debit and what goes out is credit.....why?
why there is such diffrence?
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On 28 December 2018 at 22:00 Report
Replies (12)
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Accounts Executive
749 Points Posted on 28 December 2018
bank A/c. Dr
debtors A/c. cr
as per golden rules
personal account - example debit the receiver and credit the giver.
2 Reply
On 28 December 2018 at 22:06
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41 Points Posted on 28 December 2018
could not understand
plz explain briefly
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On 28 December 2018 at 22:18
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Accounts Executive
749 Points Posted on 28 December 2018
The Golden Rules of Accounting

Debit The Receiver, Credit The Giver. This principle is used in the case of personal accounts
in case you received amount in bank by Mr X
so entry is
Bank. A/c. Dr
Mr. X. A/c. cr

in case you paid money to Mr X
so entry is
Mr. X. A/c Dr
To Bank. A/c. Cr
2 Reply
On 28 December 2018 at 22:26
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41 Points Posted on 28 December 2018
can you connect this example with bank?
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On 28 December 2018 at 22:33
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Accounts Executive
749 Points Posted on 28 December 2018
Bank is opposite : you received amount in your bank account ,so your account is credit
you paid amount to anyone from your bank ,so your account is debit
2 Reply
On 28 December 2018 at 22:37
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41 Points Posted on 28 December 2018
why this is so?
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On 28 December 2018 at 22:38
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Accounts Executive
749 Points Posted on 28 December 2018
as per golden rules
Nominal account - example all expense are debit and all income is credit.
you need to read Golden rules
2 Reply
On 28 December 2018 at 22:44
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41 Points Posted on 28 December 2018
i said if we receive amount in bank then we receive msg of bank show this as credit?
though bank is dr.
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On 28 December 2018 at 22:44
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Accounts Executive
749 Points Posted on 28 December 2018
No,you receive amount ,so your bank is credit.
when you paid to anyone from your bank so your bank is debit
2 Reply
On 28 December 2018 at 22:49
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41 Points Posted on 28 December 2018
okk thanks brother
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On 28 December 2018 at 22:50
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Student
47 Points Posted on 29 December 2018
From the customers point of view, bank deposits are their assets but from the banks point of view the deposits they collected are their liability. Hope you understood.
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On 29 December 2018 at 12:50
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2 Points Posted on 29 December 2018
Bank pass book is like your ledger account in Banks books of accounts.
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On 29 December 2018 at 23:31


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