Debit

Quick meaning: Debit is a noun meaning In bookkeeping, an entry in the left hand column of an account.

Meaning

In bookkeeping, an entry in the left hand column of an account.

More Meanings

1. To make an entry on the debit side of an account.
2. To record a receivable in the bookkeeping.
3. of or relating to process of taking money from an account
4. of or relating to the debit card function of a debit card rather than its often available credit card function
5. A sum of money taken out of a bank account. Thus called, because in bank's bookkeeping a cash withdrawal diminishes the amount of money held on the account, i.e. bank's debt to the customer.

Example Sentences

We shall debit your account for the amount of the purchase.

We shall debit the amount of your purchase to your account.

A cash sale is recorded as debit on the cash account and as credit on the sales account.

The economist also observed that some of the Victoria Line's cost should be debited to existing lines, as they would benefit from the rebuilding of their interchange stations with the new tube.

Word Forms

• debits
• debiting
• debited

Antonyms for debit

Common opposites include credit.

Related Words

Related dictionary entries include billing, crediting, output, procurement, charge, levy.

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