does anyone know?

Question

what does the DR letters mean on cash-point receipts?. It is the two letters after the amount it says is in your account.

I have had an overdraft with my bank since I was a student and even though I no longer use the overdraft facility, the money that enters my account, I am unable to tell how much I have when I am not sure what the DR means and if I am in credit or debit?.

my account is £1600 overdrawn for instance and money going in is paying that back for example, even though it isn't as I need and use the money going in. That means that my overdraft will read as if it is going down each time but when I get receipts from cash-points, I can't tell if the amount it states on there is what I have to use or what I have to minus from the overall overdraft?.

If I paid £900 into my account for instance, what would it mean if the receipt from cash-point say £900.67 DR? - hope someone can help - there is no minus sign?

Answer 1

Dr. is an acronym for Debtor and Cr, is an acronym for Creditor in Accounting Parlance. All transactions in Accounting are to be passed through a Journal Entry like" X is Debtor to Y due to a particular transaction". In Y's books X is shown as Debtor (Dr.). and X's books Y is shown as Creditor (Cr.). What you get in the Bank Statements is the copy of your Ledger as shown in your account with the Bank. If the balance is in Dr. then you are Debtor to the Bank and owe to the bank or drawn from the bank that amount. If you deposit a sum it will be Credited to your account and shown Cr. In the case of Overdraft account when you deposit the amount will be reduced to that extent, the balance will be shown as Dr. or if you have closed the OD then the balance will be shown as Cr. It is simple if you understand the transaction properly. Accounting is nothing but recording the transaction in the book as it had happened.

Answer 2

Debit receipt

Answer 3

It means "debit receipt."