Why are credit and debit backwards in accounting?

See while Cash at Bank is an asset account (debit) in the double-entry bookkeeping system of the business, the bank must treat the deposit as money owed to another business and therefore records it as a liability (credit) in their double-entry bookkeeping system for their owners. read more

A bank’s accounting credit debit seems reversed to most individuals and can be confusing. In an account for an asset held by a bank, a credit lowers the value of the asset and a debit increases the value. Why this occurs is more a question of how banks look at credits and debits. read more

When I go to the bank and use my debit card, I'm taking money out of the bank; but it seems like when crediting and debiting assets, liabilities, revenues, and expenses you can either be taking money out or putting it in, depending on which. read more

Debits and Credits are confusing terms to anyone that has not been immersed in accounting for years. Most of us find that they inherently sound like they are applied the opposite from what we expect. A debit is a posting that increases value in an account. read more