If you have an open account with a financial institution, you’ll receive a statement for that account periodically. What is an account statement? In simplest terms, it’s a summary of the transactions ...

There are huge differences between swiping a debit card and swiping a credit card. And these differences go far beyond whether or not you’re racking up credit card debt. Debit and credit cards give ...

The method business accountants use to record transactions of business activity into the general ledger requires that each transaction posted involves at least one debit and one credit. In standard ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech ...

Credit cards and debit cards look almost exactly alike but are actually quite different. Money you spend or withdraw using a debit card comes straight out of your bank account – you’re spending your ...

Credit means different things depending on its context. For example, the amount available to borrow from a vendor. A credit in accounting is a journal entry with the ability to decrease an asset or ...

Tracking your income and expenses can help you make prudent financial decisions and feel more in control of your money. Many people turn to bank statements when planning budgets and looking for ...

Debit cards rely on checking accounts, while you can make online purchases with your checking account even if you do not provide your debit card. Here’s how they compare. What is the Relationship ...

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While it seems contradictory that assets and expenses can both have debit balances, the explanation is quite logical when one understands the basics of accounting. Modern-day accounting theory is ...

In the last few years, multiple fintechs and banks have released credit-building debit cards. While they’re not true debit cards, they might actually be a good option for someone looking to build ...