I check my bank statements, and it has a column for “Details”. It would list whoever was involved my debit or credit transaction.
What’s a proper noun for someone/entity who is involved in such a transaction with me? If the entity is giving me money, he would be the giver and I’m the recipient, for example.
Creditor/Debtor?
Payer/Payee?
every transaction is either income or an expense. That can be indicated with a plus or minus sign preceding the amount. There are two other facts that may relevant. One is the specific name of the other party (not just some general category of creditors or debtor). The other is the purpose of the transaction. The former can be used to document that you payed at party who was owed or vice versa. The latter is most likely to be relevant for tax deductions purposes, and it might be helpful to choose some category for these, such as mortgage, interest, medical expenses, etc.
Maybe I wasn’t clear enough. Is there just one term that cover both the implications of “payer/payee”?
payer/payee or second party will do for most transactions. deposits are called transactions but strictly spreaking they aren’t.
The generic term for someone with whom you enter into a transaction is counterparty.
If you mean the store that sold stuff to you, which you paid for with a credit/debit card, I’d go with “vendor” for the store, “issuer” for the bank that issued the card to you, and “Slappy” for yourself. Or “cardholder”, I guess. Those are pretty unambiguous.
counterparty or second party is best. trouble is, some transactions involve only one party. depositing entails a transaction between you and the bank but the ownership of the money does not change. a transfer from my checking account to my time deposit account is also a transaction. it’ll still be me.
The store that sold you the stuff (the place were you swiped your card or entered your CC info if it was online) is the Merchant, you would be the cardholder.
that’s three T-accounts: debit you-credit store, debit store-credit bank, debit bank-credit you.