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    egy80s's Avatar
    egy80s Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 13, 2006, 12:15 PM
    Debit and credit
    What's the diffeent between debit and credit
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 13, 2006, 12:27 PM
    They are the exact opposites. A debit is taken out a credit is put in.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #3

    Nov 13, 2006, 05:59 PM
    Scott is only partially correct.

    They are indeed exact opposites.

    Bus a debit can be putting something in and a credit can be taking something out.

    On the assets sides, debt = increase and credit = decrease while on the liability/owner's equity side, it is reverse.
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