Forderungen an Bank

English translation: Dr. Receivables Cr. Bank

13:28 Feb 22, 2018
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: Forderungen an Bank
The context is an example of how a bank should account for a loan. It starts out:

Eine Bank vergibt am 11. März X1 einen Kredit in Höhe von Mio € 1, dervom Kunden am Ende seiner zehnjährigen Laufzeit vollständig, in einem Betrag zurückzuzahlenist.

Then there are a couple of accounting entry headings:

Buchungen am 11. März X1
Forderungen an Bank Mio € 1

As I understand it, because it is double-entry bookkeeping the bank would record both a debit of €1m and a receivable of €1m (which is an asset) but I am unclear as to how you would actually translate "Forderungen an Bank" in this situation.

Also I believe that the "Bank" in "Forderungen an Bank" refers to part of the accounts (debit side??) rather than the bank which is the accounting entity, which makes it a bit confusing.

Many thanks in advance!
Lzz
Local time: 14:12
English translation:Dr. Receivables Cr. Bank
Explanation:
The posting given is just that, the entry to be made. But it is in German accounting shorthand in the form of Debit account / Credit account where "an" indicates the credit entry.

In Anglo-American accounting it would be written as

Dr. Receivables (the asset account)
Cr. Bank (the liabilities account)

This is a very common misreading by anyone not familiar with the German notation as "an" often means "to". But now you know.

--------------------------------------------------
Note added at 24 mins (2018-02-22 13:53:08 GMT)
--------------------------------------------------

Hmm..the CR. entry didn't offset as I wrote it. It should be spaced a few spaces to the right.

Dr. space account name
space space Cr. account name

--------------------------------------------------
Note added at 29 mins (2018-02-22 13:58:01 GMT)
--------------------------------------------------

Sorry I didn't see that the bank was making the entry. If this is the entry for the disbursement, then the entry is

Dr (Loan) receivables (asset account)
Cr. Bank (cash? asset account)
Selected response from:

Ted Wozniak
United States
Local time: 08:12
Grading comment
This is incredibly helpful, thank you! I was gradually coming to the conclusion that both entries must be somehow condensed into one in German, but the lack of the leading "per" was confusing me.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2Dr. Receivables Cr. Bank
Ted Wozniak
3credit line at bank
gangels


Discussion entries: 5





  

Answers


22 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
Dr. Receivables Cr. Bank


Explanation:
The posting given is just that, the entry to be made. But it is in German accounting shorthand in the form of Debit account / Credit account where "an" indicates the credit entry.

In Anglo-American accounting it would be written as

Dr. Receivables (the asset account)
Cr. Bank (the liabilities account)

This is a very common misreading by anyone not familiar with the German notation as "an" often means "to". But now you know.

--------------------------------------------------
Note added at 24 mins (2018-02-22 13:53:08 GMT)
--------------------------------------------------

Hmm..the CR. entry didn't offset as I wrote it. It should be spaced a few spaces to the right.

Dr. space account name
space space Cr. account name

--------------------------------------------------
Note added at 29 mins (2018-02-22 13:58:01 GMT)
--------------------------------------------------

Sorry I didn't see that the bank was making the entry. If this is the entry for the disbursement, then the entry is

Dr (Loan) receivables (asset account)
Cr. Bank (cash? asset account)

Ted Wozniak
United States
Local time: 08:12
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 742
Grading comment
This is incredibly helpful, thank you! I was gradually coming to the conclusion that both entries must be somehow condensed into one in German, but the lack of the leading "per" was confusing me.

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: You're the expert and I'm not, and also we only have one of the two entries. But surely this means credit receivables, and the next entry should be debit cash.
35 mins
  -> We have both entries Phil. German puts them in a single line, while "we" use 2 lines.

agree  RobinB: The full German entry should really read "Per Forderungen An Bank", but very often the leading "per" (= Dr.) is omitted.
1 hr

agree  Steve R: Presumably "an Bank" means "CR Cash", i.e. post the credit entry to the cash account, as Ted suggests at the end.
2 hrs
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2 days 5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
credit line at bank


Explanation:
Neither "receivable" nor "claim" or "demand" is right.
We are talking obviously about a credit line of €1,000,000 which can be drawn on as the borrower sees fit, in whole or part, and which is to expire after 10 years. So the first line should read: 'Entries made as of March xx'

gangels
Local time: 07:12
Works in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 122
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