Business, Legal & Accounting Glossary
A bookkeeping notation that is used by financial institutions and businesses to track the events of a transaction such as the crediting or debiting of accounts during the processing of a check. Businesses might use it when tracking receivables as a credit to the customer’s account and as a debit to its balance sheet until such time as the customer’s check clears the bank.
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This glossary post was last updated: 11th August, 2022 | 0 Views.