Fwd: Re: Paying Expenses

[Dinesh Rajanikant Rele]

On Sat, 21 Jul 2001, you wrote:
> On Tue, Jul 17, 2001 at 05:54:33PM -0500, Bill Gribble wrote:
> > btw: I'm using "debit" and "credit" in the accounting sense, which is
> > probably opposite of your usual usage of the terms.  To "credit" a
> > bank account means to take money OUT of it, and to "debit" a bank
> > account means to put money IN it.  
> >
> 	That's nuts.  What's the justification?
> 
> 					Schwab
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Hi Leo, The justification is accounting convention. A bank a/c is a real a/c
and in case of real a/cs you debit what comes IN and credit what goes OUT.
Conventions, not reason rule accounting !!!!
 Dinesh R.Rele
Mumbai (Bombay), India.