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A comment on Double Entry Accounting for Developers. Parent comment
Your credit card account is an asset from Visa’s POV. And a liability from your POV.
When Visa refunds that fee, it reduces their asset. And on your books, it reduces your liability.
A debit on your books is a credit on the counterparty’s books. A plus on your books is a minus on the counterparty’s books.
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Your credit card account is an asset from Visa’s POV. And a liability from your POV.
When Visa refunds that fee, it reduces their asset. And on your books, it reduces your liability.
A debit on your books is a credit on the counterparty’s books. A plus on your books is a minus on the counterparty’s books.