What is debit ,credit, invoices, reconciliation

Question

Accepted Answer

Debit, credit, invoices, and reconciliation are key concepts in financial accounting and collection management.

Debit: An entry on the left side of an account, representing an increase in assets or a decrease in liabilities or equity.
Credit: An entry on the right side of an account, representing a decrease in assets or an increase in liabilities or equity.
Invoices: Documents issued by a seller to a buyer, detailing the products or services provided and the amount due.
Reconciliation: The process of comparing financial records to ensure they are accurate and in agreement with each other.

Accepted Answer

Debit card is provided by open bank account
Credit card is provided by bank but your account statement is most important and very useful all place and good discount offer

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