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1. Credit Turnover is the summation of all the credit transactions in your account during the statement period.
2. Debit Turnover means the summation of all the debit transactions in your account during the statement period.
3. (Opening balance of account) + (Credit Turnover) - (Debit Turnover) = Closing balance of account.
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Difference between debit and credit in accounting?
A debit is money paid out or a loss, a credit in income or a gain.
What is the difference between a credit memorandum and a debit memorandum?
A Debit Memo is a over payment A Credit Memo is a over payment
What is the primary difference between a credit card and a debit card?
credit mean were you take money debit is what you give money
In accounting what is the difference between debit and credit?
A debit is an entry showing money you have payed out. A credit is an entry showing money you have received.
What is different between credit meno and debit memo?
The primary difference between credit and debit memo is where it originates. Credit memo is raised by a supplier to a consumer when goods are returned, while debit memo is raised by a consumer towards the supplier.
