Definition

1. Noun:
   • An accounting entry acknowledging income or capital items: A "credit entry" is a formal record made in an accounting system to represent an increase in liabilities, equity, or revenue, or a decrease in assets or expenses. It is the right-hand side of a standard double-entry bookkeeping ledger.

Usage Examples

• Noun:
  • The accountant made a credit entry to record the new investment from the shareholders.
  • Every credit entry must have a corresponding debit entry to maintain the balance of the accounting equation.

Advanced Usage

• "To post a credit entry": The act of formally recording a credit transaction in the ledger.
  • The clerk will post the credit entry for the sales revenue at the end of the day.

Variants and Related Words

• Credit (n): In accounting, the right-hand column of an account where such entries are recorded.
  • The balance is listed on the credit side of the account.
• Credit (v): The action of making such an entry in an account.
  • We will credit your account for the returned merchandise.

Synonyms

• Accounting credit: A formal synonym within the field of finance.
• Right-side entry: A descriptive term referencing its position in a T-account.

Related Phrases

• Credit side: The side of a ledger account where credit entries are recorded.
  • All revenue increases are shown on the credit side.
• Credit balance: The condition when the total credit entries exceed the total debit entries in an account.
  • The revenue account has a credit balance.

Noun

1. an accounting entry acknowledging income or capital items