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INTERVIEW QUESTIONS ACCOUNTS ACCOUNTS PAYABLE DETAILS
Question :
What is debit and credit from the banks point of view ?

Category Accounts Payable Interview Questions
Rating (0.2) By 97 users
Added on 7/21/2006
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Answers:

Credit what comes in

Debit what goes out



"debit what comes in"
"credit what goes out"
this is the golden rule



Posted by: ravindra    

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In Banks point of view debit means u have deposited money in the bank . and credit means u have withdraw money from the banks.
in other word we can say that if debit bank balances shows in bank statement this means it is the unfavorable condition for the company and credit balance means it is the favorable condition for the company.



Posted by: manjeet    

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From banks point of view, what comes in business is debit and what goes out from business is credit...



Posted by: Nitin Rajdev    

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Debit what comes in &

Credit what goes out

from the Bank point of view



Posted by: kathiresan    

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Credit what comes in

Debit what goes out



Posted by: dheeraj gupta    

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1. Debit to receiver
Credit to giver

2. Debit what comes in
Credit what goes out

3. Debit All Exp /Loss
Credit Income/Gain



Posted by: manjunath    

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debit balance of our books of a/c will be the credit balance of bank a/c. and the credit balance of our books of a/c will be debit balance in the books of a/c of bank



Posted by: kiran    

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debit what comes in
credit what goes out



Posted by: shireesha    

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Debit means payment
Credit means receipt



Posted by: Tapojit    

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credit means , what comes in , debit means what goes out



Posted by: panchami H.R    

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credit means , what comes in , debit means what goes out



Posted by: panchami H.R    

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If Bank is the receiver Bank account Debit
If Bank is the giver Bank account credit



Posted by: RAM RAI    

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In the view of banks debit withdraws,credit deposits.



Posted by: sandhya    

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Debit for a bank means assets/receivables

Credit for a bank means liability/payable



Posted by: Mahesh    

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in the books of bank debit means receivable & credit means payable



Posted by: narendra    

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From Bankers point of view Debit is All Withdrawals by the customer, Bank charges and service tax on certain services rendered by bank and Credit is all Deposits by the customer, Interest on the favorable balance for a defined period by the bank. In other words for the banker Debit is decrease in balance and Credit is increase in the balance of the account



Posted by: kamala    

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in the point of bank
credit is incoming and
debit is outgoing of money
u will see in passbook



Posted by: praveen    

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In Bank point of view,

Debit all Loans and advances and Credit all about Deposits!



Posted by: Naveen Kumar    

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ALL DEPOSITS ARE LIABILITY TO THE BANK AND ALL PAYABLE ARE EXPENDITURE TO BANK. IT MEANS OUR DEPOSITS (SUCH AS SB A/C. C.A. A/C., RECURRING DEPOSITS ETC., ARE PAYABLE TO DEPOSITORS WHICH LIABLE TO THE BANK (CREDIT) AND PAYMENTS SUCH AS INTEREST ARE REPAYING OF BALANCES (WITHDRAWALS OF CUSTOMERS) ARE EXPENDITURE TO THE BANK (DEBIT)



Posted by: K.V.S.SUBRAHMANYAM    

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credit-what comes in
debit what goes out



Posted by: b.nivethika    

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Double entry principle
debit the giver
credit the receiver



Posted by: tayo    

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As Bank is a personal account..so in this the the golden rule is Debit what comes in and Credit what goes out.That is when Bank is receiving the cash than Bank A/C will be Debited and Vice Versa.



Posted by: vsoniyak    

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debit is comes in
&
credit is goes out.
this is golden rule of cash book.
in 11 the class..
i remembered it.



Posted by: deepak singh    

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Debit What Comes In (e.g cash deposit, Bank charges)
Credit what Goes Out (Cash withdrawal by customer, Rent paid)



Posted by: Wagh Ramesh    

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debit receiver and credit the given



Posted by: md sameer    

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from bank point of view the debit means that bank receive from you any thing(decrease in balance) and credit means increase in your balance.



Posted by: Sir Anjam Khan    

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From Bank the entry while depositing money by a customer will be Cash a/c ...Dr
To Customer Name.

Hence the customer's account will show a credit balance if there is money.



Posted by: simi    

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in the point of bank
credit is incoming and
debit is outgoing of money



Posted by: Pallavi    

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Debit what comes in
Credit what goes out

bank always credit our a/c whenever we deposit any amount because we are creditor of bank & bank has to pay our money in future



Posted by: santosh    

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no



Posted by: palakvjain    

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double entry Principe
debit what comes in
credit what goes out
debit the receiver
credit the giver
all/exp.&loss. debit
all income&gain credit



Posted by: vivek parihar    

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debit the rec & credit the giver.
debit what cums in & credit what goes out.
debit all exp&losses & credit all income&gains.



Posted by: Raghuram    

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Debit means negative balance.
Credit means positive balance,for point of bank.



Posted by: Hemant Kumar Roy    

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For bank Point of view

Debit - Withdrawal Amt
Credit- Deposit Amt



Posted by: Naresh Chavan    

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In Banks point of view debit means u have deposited money in the bank . and credit means u have withdraw money from the banks.
in other word we can say that if debit bank balances shows in bank statement this means it is the unfavorable condition for the company and credit balance means it is the favorable condition for the company



Posted by: Lingagoud    

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The rules of Debit and Credit are same in all occasions. The general rule is the Receiver will be Debited and the Giver will be credited. Whenever we make deposits we will debit the Bank why because he is receiving with a view to act as custodian of our money. When ever require funds we will credit the Banker to the actual balance with our Banker or we became debtor to the Bankers.



Posted by: Satyanarayana Raju    

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As and when the balance in the account decreases it will be a debit and if the balance increases it will be a credit. This scenario is when we are talking about a individual bank account.
If we taking only the bank then the deposits, service charges etc will be debit as the amount (balance) increases. Withdrawls would be a credit as the amount (balnce) will decrease.



Posted by: Anupama Sarat    

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sales is also called as turnover



Posted by: sagar    

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from the bank point of view bankers debit the what goes out. credit the what comes in firm



Posted by: kamal    

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Debit means negative balance.
Credit means positive balance,for point of bank



Posted by: chinu    

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In general we categorise debit and credit based on different accounting types likewise personal, real and nominal account. But when it comes to bank perspective, debit indicates withdrawls and credit indicates deposits which the customers maintain their accounts with the banks.



Posted by: parveen    

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Debit what comes in ,
Credit what goes out



Regards,
nicku



Posted by: nicku    

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Dr. whats come
and
cr. whats goes out.



Posted by: Narendra Kumar chauhan    

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any banker have seen this qustion pls put the detailed answer.



Posted by: ummrt    

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