Credit

Credit (alternatively known as credit entry and commonly abbreviated Cr because of Latin credere). Any entry into financial books that either increases equity-origin accounts or decreases asset-origin accounts. Any journal entry contains at least one credit entry.

Definitions

Credit. The right-hand side of any account. A number entered on the right side of any account is said to be credited to an account.

Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.