credit side
Học thuậtThân thiện
Definition
Noun: 1. The side of an account that records payments received or amounts owed to the entity: In double-entry bookkeeping, the credit side is the right-hand side of a ledger account. It records increases in liabilities, owner's equity, and revenue, or decreases in assets and expenses. 2. The favorable or positive aspect of a situation: Used figuratively to denote the positive elements or advantages in an assessment.
Usage and Examples
- Noun (Accounting):
- All revenue entries are recorded on the credit side of the income statement.
- To increase the liability account, you must make an entry on its credit side.
- Noun (Figurative):
- When evaluating the project, we must list both its failures and its credit side.
- On the credit side, the new policy has significantly improved employee morale.
Advanced Usage
- "to be on the credit side": To be in a position of advantage or to have a net positive outcome.
- After all the calculations, our company is finally on the credit side this quarter.
Variants and Related Words
- Credit (n): (1) An accounting entry that increases a liability or equity account, or decreases an asset or expense account. (2) The ability to obtain goods or services before payment. (3) Praise or recognition.
- Debit side (n): The left-hand side of an account, which records payments made or amounts owed by the entity. It is the opposite of the credit side.
Synonyms
- Asset column (in specific contexts)
- Positive column
- Gains side
Antonyms
- Debit side
- Charge side
Related Phrases
- Credit entry: An individual record made on the credit side of an account.
- Make a credit entry for the full invoice amount.
- Credit balance: The condition where the total credits on an account exceed the total debits.
- A credit balance in a revenue account indicates earnings.
Noun
- account of payments received; usually the right side of a financial statement