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What does credit card deposit mean?

Credit card deposits refer to the money that enterprises deposit into bank credit card accounts in accordance with relevant regulations in order to obtain credit cards.

According to the Accounting Inquiry Network, credit card deposits refer to the money that companies deposit into bank credit card accounts in accordance with relevant regulations in order to obtain credit cards. Among them, a credit card is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It is in the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic strip and signature on the back. strip of cards.

In accounting practice, when an enterprise deposits credit card deposits, it is generally processed through the "other monetary funds" account. This account mainly accounts for the enterprise's bank draft deposits and bank cashier's check deposits measured at amortized cost. , credit card deposits, letter of credit margin deposits, investment deposits, deposits from other places and other monetary funds. When banks or financial institutions absorb deposits from corporate or personal credit cards, they generally process them through the "Deposits Absorbed" account. This account mainly accounts for various deposits other than interbank deposits absorbed by banks or financial institutions.