debit entry

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Related to debit entry: credit entry
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  • noun

Synonyms for debit entry

an accounting entry acknowledging sums that are owing

References in periodicals archive ?
TD Bank then submits this information to the ACH Operator, which forwards the debit entry to Bank of America (RDFI).
40) The Operating Rules state that the Receiver must report unauthorized ACH debit transactions to the RDFI within fifteen calendar days from the date the RDFI sends or makes available to the Receiver information relating to the debit entry.
For example, supposed in the student loan debit entry scenario above, TD Bank erroneously submits the debit entry to Bank of America a week too early; yet Bank of America is unaware of the agreement between student and lender, so it debits student's account for $100 and returns the entry to TD Bank.
in accordance with the terms of the Entry, including any claims, demands, losses, liabilities, or expenses, and/or attorney's fees and costs that result, either directly or indirectly, from the return of one or more items or Entries of the Receiver due to insufficient funds caused by a Debit entry.
76) For instance, if a company (Originator) hires a payroll company (Third-Party Sender) to do its weekly payroll, the company would authorize the payroll company to complete two separate transactions: (1) to initiate an ACH debit entry from the company's account; and (2) to initiate an ACH credit entry to the employees' accounts.
We need to convert the credit entry to plant cost to its correct debit entry, so again the amount of $32,000 will be posted twice and the suspense account used to balance the entry as follows:
The debit entry needs to be made into a credit entry, so $380 will be posted twice and the suspense account used to balance the entry as follows: Cr Bank: 2 x $380 = $760.
A debit entry in a nostro account to transfer a profit to the P&L account is as follows: .
That it now costs less to obtain this same software from foreigners means that its consumption value can be met with a smaller debit entry in the living-standard ledger.
The debit entry to "insurance expense" in the income statement serves to increase the debit balance or increase insurance expense.