Credit Ticket

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DEFINITION of 'Credit Ticket'

In accounting and bookkeeping, a credit ticket is a transaction that generates a credit in the general ledger. An example of a credit ticket would be a deposit in a bank account which would produce a credit on the general ledger.

INVESTOPEDIA EXPLAINS 'Credit Ticket'

Credit tickets will have offsetting debit tickets, either simultaneously or in the very near future. The deposit in the bank account, for example, could be a payment for the sale of goods, and the offsetting debit would be in accounts receivable.

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RELATED FAQS
  1. How do you calculate credits and debits in the general ledger?

    A general ledger acts as a record of all accounts and their transactions. Balancing the ledger involves subtracting the total ... Read Full Answer >>
  2. Given a good bookkeeping system, would financial accounting be necessary?

    Bookkeeping and financial accounting may seem like they are new creations, but variations have been around for millennia. ... Read Full Answer >>
  3. Why do accountants use debits and credits instead of simple pluses and minuses? Why ...

    Debits and credits, and the technique of double-entry accounting, are credited (no pun intended) to a Franciscan monk by ... Read Full Answer >>
  4. How is reconciliation treated under generally accepted accounting principles (GAAP)?

    The generally accepted accounting principles, or GAAP, provide different reconciliation rules for balancing many kinds of ... Read Full Answer >>
  5. Where did the concept of reconciliation in accounting come from?

    Financial accountants perform reconciliation to ensure that the balances of two accounts are in agreement. The process by ... Read Full Answer >>
  6. Are all fixed costs considered sunk costs?

    In accounting, finance and economics, all sunk costs are fixed costs. However, not all fixed costs are considered to be sunk. ... Read Full Answer >>
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