What does it mean if my electricity account is in debit?
If your account is in debit, you’ve used more energy than you’ve paid for. When your energy bill is in debit it means that you owe the supplier money. … It can be normal to be in debit on your energy account at different times throughout the year.
Why is my energy bill in debit?
The balance on your account – ‘we owe you’ means your account’s in credit. ‘You owe us’ means it’s in debit. If you spread the cost of your bills by paying by monthly Direct Debit, your credit will be taken forwards to cover your further bills.
What does it mean if my electricity bill is in credit?
If you pay your energy bill by direct debit, you might end up being ‘in credit’ with your supplier – this means that they owe you money. … You’ll sometimes be owed money because you’ve used less energy than you’ve paid for. Your supplier might: refund any money owed to you at the end of the year.
What does it mean when my electric bill is negative?
Originally Answered: What does a negative electric bill mean? This simply means you have paid or deposited more amount than the last bill required. Sometimes it is helpful to deposit advance amount with electric company when you are out of station for longer period and do not want to delay the bill payment.
Does debit mean debt?
Debit means you owe them, credit means they owe you.
Is debit positive or negative?
The debit falls on the positive side of a balance sheet account, and on the negative side of a result item. In bookkeeping, a debit is an entry on the left side of a double-entry bookkeeping system that represents the addition of an asset or expense or the reduction to a liability or revenue.