Credit union General ledger for deposit

USA Discussion in 'General Accountancy Discussion' started by Gappi, Oct 14, 2018.

  1. Gappi

    Gappi

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    what will a credit union general ledger look like when a member deposit money in his own account? Will the credit union debit cash and credit deposit (statement)?
     
    Gappi, Oct 14, 2018
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  2. Gappi

    Samir VIP Member

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    It depends on what type of account the funds held for members is, and how a deposit is accounted for in terms of a credit union (is that income, an ap, an asset, equity?).
     
    Samir, Nov 8, 2018
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  3. Gappi

    kirby VIP Member

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    Credit Union will
    DR Cash
    CR Member Share account
     
    kirby, Nov 10, 2018
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