Debit vs. Credit for bank (inconsistency with what I see on bank website)

[Buddha Buck]

To you, the money in your bank account is an asset -- something you own. As
such, to you, deposits are debits, withdrawals are credits.
To the bank, the money in your bank account a liability -- something it
owes you. As such, to you, deposits are credits, withdrawals are debits.

Your bank statement is showing you their books from their point of view,
which is backwards from your point of view.

This is normal and expected.


On Wed, Nov 30, 2016 at 10:38 AM replicon <replicon at gmail.com> wrote:

> Hello,
>
> This is probably a really silly question, but I am having trouble finding
> answers online.
>
> If I create a Bank account in GNUCash:
>
> * Deposit == Debit
> * Withdrawal == Credit
>
> But if I log into my chase bank account, and filter so it only shows me
> "Debit Transactions", then it only shows me withdrawals.
>
> So... which is it? Something is backwards somewhere, but it's not really
> clear to me what...
>
>
>
> --
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