To demonstrate a debit entry, suppose student-payor (Receiver) wants to make a payment to lender-payee (Originator) on his student loans.
(40) The Operating Rules state that the Receiver must report unauthorized ACH debit transactions to the RDFI within fifteen calendar days from the date the RDFI sends or makes available to the Receiver information relating to the debit entry. (41) If such a report is made, the RDFI is obligated to promptly credit the amount of the debit entry.
For example, supposed in the student loan debit entry scenario above, TD Bank erroneously submits the debit entry to Bank of America a week too early; yet Bank of America is unaware of the agreement between student and lender, so it debits student's account for $100 and returns the entry to TD Bank.
We need to convert the credit entry to plant cost to its correct debit entry, so again the amount of $32,000 will be posted twice and the suspense account used to balance the entry as follows:
The debit entry needs to be made into a credit entry, so $380 will be posted twice and the suspense account used to balance the entry as follows: Cr Bank: 2 x $380 = $760.
Thus, the
debit entry to the allowance at December 31, 2012, should have been $1,200, not $1,400, and the December 31, 2012, balance in the allowance should be an $800 credit.
That it now costs less to obtain this same software from foreigners means that its consumption value can be met with a smaller
debit entry in the living-standard ledger.
She offered me her sincere apologies and cancelled the
debit entry on my account.
The voided check is handed back to the customer with a receipt, and the data is converted into an automated clearinghouse (ACH)
debit entry.
ACH-Based Electronic Check: A payment that begins as a source document is converted into an ACH
debit entry; or a payment that begins as a paper check is truncated to an ACII
debit entry.
That is the only proven
debit entry in an otherwise spotless book of credit, but there may be another.
The reason behind this advice is that, if the corresponding debit entry in the merchandise account were lower, the merchant might think the merchandise cost less and so sell it too cheaply since the apparent profit on the re-sale would appear to be high enough to satisfy him.
A debit entry in a nostro account to transfer a profit to the P&L account is as follows: ...
The voided check is handed back to the customer with a receipt, and the paper-based process is converted into an automated clearinghouse
debit entry. This transforms the in-store check cashing process from a paper-based to an electronic transaction.
