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November 22, 2015 at 6:19 am
Sir can anyone “Credit Transfer” to my bank without my permission?
November 12, 2013 at 3:01 pm
continue doing a great job!!! Mr Moffat!
September 28, 2015 at 10:16 pm
Thank God for Open Tuition
October 7, 2013 at 10:58 am
well explained lecture.
September 8, 2013 at 11:24 am
a perfect lecture for the ones dealing first time with the bank reconciliation…
September 17, 2013 at 6:06 pm
I too totally agree! May God bless you Sir Moffat! 😀
ashna toolsee says
July 20, 2013 at 9:20 am
June 23, 2013 at 1:48 pm
This lecture video is hilarious. Very funny one, thank you for the wonderful lecture and the jokes.
November 15, 2012 at 10:45 am
Is direct debit not like an increase in our bank balance? Because ‘debit’ increases the cash balance? Respond
John Moffat says
November 15, 2012 at 2:40 pm
A debit on the bank statement is a payment. Direct debits are automatic payments (and therefore a credit in the cash account).
November 17, 2012 at 9:46 pm
@johnmoffat, If that is the logic,then how are credit transfers assumed to be a tranfsfer from our A/c instead of a trasnfer to our A/c?
November 17, 2012 at 9:50 pm
@chandhini, I know it is confusing but blame the UK banks, not me
They call it a credit transfer because you are transferring money to the credit of someone else’s account.
November 17, 2012 at 9:54 pm
@chandhini, Direct debits are initiated by the person receiving the money from us – they simply tell our bank how much money that want out of our account.
Credit transfers are initiated by the person who is paying the money – we tell our bank to take the money out of our account and credit someone else’s account.
November 17, 2012 at 10:12 pm
@johnmoffat, I’ve got it now! Thanks!
November 17, 2012 at 10:10 pm
November 18, 2012 at 9:03 am
@chandhini, You are welcome
October 21, 2012 at 11:16 am
hhaha im sure i will not have problem with understanding “direct debit” from now on :P…especially with tht example
April 15, 2012 at 11:46 am
lectures are awesome , very helpful . thank you so much OpenTuition.com
April 12, 2012 at 2:27 pm
March 31, 2012 at 4:20 pm
November 25, 2011 at 7:01 am
i’m in love with the lecturer and his smashing British accent. <3
November 20, 2011 at 1:30 am
November 14, 2011 at 11:12 pm
excellent keep up the good work.
November 11, 2011 at 11:55 am
November 7, 2011 at 2:40 pm
very good explanation and the example you gave about the old lady is hilarious 😀
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