Search results
- Dictionarydebit/ˈdɛbɪt/
noun
- 1. an entry recording a sum owed, listed on the left-hand side or column of an account: "a double-entry system of bookkeeping, where each debit has a corresponding credit entry"
verb
- 1. (of a bank or other financial organization) remove (an amount of money) from a customer's account: "$10,000 was debited from their account"
Powered by Oxford Dictionaries
DEBIT definition: 1. (a record of) money taken out of a bank account: 2. to take money out of an account or keep a…. Learn more.
May 22, 2024 · A debit is an accounting entry that results in either an increase in assets or a decrease in liabilities on a company’s balance sheet. In fundamental accounting, debits are balanced by...
noun. 1. a. : a record of an indebtedness. specifically : an entry on the left-hand side of an account constituting an addition to an expense or asset account or a deduction from a revenue, net worth, or liability account. b. : the sum of the items entered as debits. 2. : a charge against a bank deposit account. 3. : drawback, shortcoming.
Debit definition: the recording or an entry of debt in an account.. See examples of DEBIT used in a sentence.
A debit is a payment made or charged, or the notation of the amount charged. Trying to track down the mysterious $2 debit to your bank account is almost never fruitful, but you’re bound to do it anyway.
verb. ( Accounting: Financial statements) If you debit an account, you make an entry on the left side of the account. The excess is debited to this account if it contains a sufficient credit balance to absorb this debit. To record a cash sale, you credit sales revenue and debit the bank account.
Definition of debit noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Definition of debit verb in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
DEBIT meaning: 1. money taken out of a bank account, or a record of this 2. to take money out of a bank account as…. Learn more.
Definition: A debit is an accounting term for an entry made on the left side of an account. Many times debit is abbreviated as Dr.The double entry accounting system is based on the concept that total debits always equal total credits.
