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ACCREDITI (dare), ADDEBITI (avere)

English translation: CREDIT OPERATION (debit) - DEBIT OPERATION (credit)

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03:00 Jul 23, 2001
Italian to English translations [PRO]
Bus/Financial
Italian term or phrase: ACCREDITI (dare), ADDEBITI (avere)
I am confused by the references in brackets- isn't this a contradiction in terms or am I missing something obvious? (This is from on-line help files for a banking system)

"Come totali vengono riportati:
Totali:
ACCREDITI (dare)
ADDEBITI (avere)"

Thank you!
Sarah Ferrara
Italy
Local time: 23:00
English translation:CREDIT OPERATION (debit) - DEBIT OPERATION (credit)
Explanation:
Sarah, as a former bank accountant I can tell it's quite normal. In the double-entry system (partita doppia), when you enter an item describing money coming into your account, you write it down in the left-side column of the ledger (debit); vice-versa, when you refer to money leaving your account you write it down in the right-side column (credit). Of course the bank's point of view is reversed: for them any money credited to your account is leaving THEIR account, and will be entered in the right side column (credit), while any money debited to you is credited to them, and will be entered on the left-side column (debit). In short: for the accounting system, when we earn money we enter it in the DEBIT side of the ledger, and when we spend it on the CREDIT side of the ledger. It sounds complicated, but in fact it's quite easy if you do it yourself just once.
Selected response from:

Francesco D'Alessandro
Spain
Local time: 22:00
Grading comment
Perfect, thank you- just what I wanted to verify...

Sarah
4 KudoZ points were awarded for this answer

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Summary of answers provided
na +1credits, debitsMaria Paz
naright and left
Francesco D'Alessandro
naCREDIT OPERATION (debit) - DEBIT OPERATION (credit)
Francesco D'Alessandro


  

Answers


13 mins
CREDIT OPERATION (debit) - DEBIT OPERATION (credit)


Explanation:
Sarah, as a former bank accountant I can tell it's quite normal. In the double-entry system (partita doppia), when you enter an item describing money coming into your account, you write it down in the left-side column of the ledger (debit); vice-versa, when you refer to money leaving your account you write it down in the right-side column (credit). Of course the bank's point of view is reversed: for them any money credited to your account is leaving THEIR account, and will be entered in the right side column (credit), while any money debited to you is credited to them, and will be entered on the left-side column (debit). In short: for the accounting system, when we earn money we enter it in the DEBIT side of the ledger, and when we spend it on the CREDIT side of the ledger. It sounds complicated, but in fact it's quite easy if you do it yourself just once.

Francesco D'Alessandro
Spain
Local time: 22:00
Native speaker of: Native in ItalianItalian
PRO pts in pair: 1392
Grading comment
Perfect, thank you- just what I wanted to verify...

Sarah
Login to enter a peer comment (or grade)

14 mins peer agreement (net): +1
credits, debits


Explanation:
To accredit = to credit.

To debit = to owe, to charge, to debit an account, to run into debt.

Hope this helps.



Maria Paz
PRO pts in pair: 4

Peer comments on this answer (and responses from the answerer)
agree  xxxdreyfu: perfect!!!
1 min
Login to enter a peer comment (or grade)

26 mins
right and left


Explanation:
Sarah, may I add soemthing
I got carried away by the right and left, actually when I wrote right in my previous answer I meant left, and vice-versa, but the short and long of it doesn't change

Francesco D'Alessandro
Spain
Local time: 22:00
Native speaker of: Native in ItalianItalian
PRO pts in pair: 1392
Login to enter a peer comment (or grade)




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