Banking
Current Account Opened — Customer Deposit
Recording cash deposited by a new retail customer opening a current (demand) account.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Vault | Asset (+) | 1,000.00 | - |
| Customer Demand Deposits (Current Account) | Liability (+) | - | 1,000.00 |
💡 Accountant's Note
Customer deposits are liabilities for a bank — the bank owes the money back on demand. The cash received increases the vault asset and creates a corresponding deposit liability.
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