Credited Meaning: Definition, Examples, and Translations
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credited
[ˈkrɛdɪtɪd ]
Definition
financial acknowledgment
Credited refers to the act of recording a sum of money in an account as a payment or income. It indicates an increase in assets or revenue, moving it to the right side of a financial ledger. This term is commonly used in banking and accounting, denoting that a transaction has been completed where funds have been added to an account. The opposite of credited would be debited, where funds are withdrawn or deducted from an account.
Synonyms
accounted, acknowledged, attributed, registered.
Examples of usage
- The bank credited the interest into my savings account.
- She was credited with an extra bonus for her performance this quarter.
- Funds will be credited to your account within 24 hours.
Translations
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Origin of 'credited'
The term 'credited' originates from the Latin word 'creditum', meaning 'a loan or something entrusted'. The concept evolved through Middle English and Old French, where it started being used in financial contexts around the late 15th century. Initially, credit was linked to the notion of trust, denoting a person's reliability regarding financial obligations. As commerce expanded, so did the use of the term, diversifying its meanings across different contexts, including banking, accounting, and personal finance. Today, credited is a common term in both everyday financial transactions and formal accounting practices.