Creditboeking

Creditboeking is the recording of a credit entry in financial records, most commonly within the framework of double-entry bookkeeping. In double-entry systems, every financial transaction is posted with at least one credit and one debit, ensuring that the accounting equation remains balanced. Credits increase liability, equity, or revenue accounts, and they decrease asset or expense accounts.

The term can apply to various posting activities, including sales on credit, adjustments to accounts, or entry of receipts that affect balances on the credit side. For example, a sale on credit would involve debiting Accounts Receivable and crediting Sales Revenue. When a company pays a liability, it debits the liability account (reducing it) and credits Cash (reducing an asset). In practice, creditboeking is performed in a general ledger or within accounting software, and it is accompanied by a corresponding debit entry. Proper credit postings are essential for accurate financial reporting, tax reporting, and compliance.

Common pitfalls include posting to incorrect accounts, failing to balance debits and credits, or inconsistent account classification. The concept underpins financial statements such as the income statement and balance sheet, and is closely related to terms like credit entries, credit balances, and journal entries. The historical basis lies in the development of double-entry bookkeeping in medieval accounting, attributed to Luca Pacioli and his contemporaries.