When learning accounting for the 1st time, the terms ‘debit’ and ‘credit’ could be a little puzzling. Why? Because when you go to the bank and deposit cash, the teller will tell you, I’m crediting your account X quantity of dollars, but if you’re taking money our of...

Way back, after proudly surviving my first formal accounting classes, I was challenged by a CPA buddy of mine (Tom K) with a mind numbing quiz. If you are so smart Mr. Tim, then let me know, what’s a debit and what’s a credit? I proceeded to launch into a wonderful and lengthy rationalization...

What is a debit card ? The card is used in the ATM is known as a debit card. When it first appeared debit cards is easy to say, apart from credit cards. Debit cards do not have a credit card company logo, but usually only had the name of your bank, your account number and your name. Today debit cards...