Hendrik Boom <[EMAIL PROTECTED]> writes:
> In a previous posting
> you (I believe?) said that the reason terminology had become so confused
> was that peoples bank statements were produced from the bank's
> point of view, instead of the client's point of view.
Right. When you put money in the bank, your perspective is that you
are debiting your debtors, i.e. the total amount of money owed to you
increases. From the bank's perspective, a deposit by you means that
the total amount of money owed to THEM decreases, so it's a credit.
This is just a layman's understanding; someone with more legitimate
accounting knowledge can flesh this out a bit or fix it if it's wrong.
Bill Gribble
