debit

debit
To debit is to place an entry on the left-hand side of an account. A debit in a liability account makes it smaller. A debit in an asset account makes it larger. Glossary of Business Terms
————
An expense, or money paid out from an account. A debit transaction is one which the net cost is greater than the net sale proceeds. See also credit. Bloomberg Financial Dictionary

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▪ I. debit deb‧it 1 [ˈdebt] noun [countable]
1. BANKING a decrease in the amount of money in a bank account, for example when a payment is made from it — see also direct debit
2. the debit side ACCOUNTING the left-hand side of each account in Double-Entry Bookkeeping, the side used for decreases in liabilities or revenue S:

• Every time an entry is made on the debit side, another entry of equal value must be made on the credit side somewhere in the books.

3. ACCOUNTING an amount recorded on the debit side of an account:

• In the plant accounts there is a debit which supports the balance-sheet item.

— opposite credit
  [m0] ▪ II. debit debit 2 verb [transitive]
1. BANKING to take money out of a bank account:
debit something from something

• The fee will be automatically debited from your account.

• The money was debited from my account without even informing me.

— opposite credit
2. ACCOUNTING to record an amount on the debit side of an account in Double-Entry Bookkeeping:

• Note that as the principal repayment reduces the loan outstanding so it is debited to that account.

— opposite credit

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Ⅰ.
debit UK US /ˈdebɪt/ noun
► [C] BANKING an amount of money that is taken out of a bank account, etc.: »

Once your contract with them ends, the company should no longer take monthly debits from your account.

 »

The statement showed a debit of £350 on January 22.

→ Compare CREDIT(Cf. ↑credit)
► [U] BANKING the system of taking money from a bank account, etc., for example, by using a debit card: »

When you swipe your card at the checkout line, you'll be asked if you want to pay by debit or credit.

 »

debit payment/transaction/purchase

 »

I had lost the original invoice but I still had the debit receipt.

→ See also DIRECT DEBIT(Cf. ↑direct debit)
► [C] (ABBREVIATION Deb, deb) ACCOUNTING an amount recorded that is recorded in a company's financial accounts which represents money that has been used to pay an expense or buy an asset. In double-entry bookkeeping debits are recorded on the left-hand side (= the debit side) of the accounts: »

One of the principles of accounting is that the debits recorded in a ledger should equal or balance the credits in it.

→ Compare CREDIT(Cf. ↑credit)
● in debit — Cf. in debit
Ⅱ.
debit UK US /ˈdebɪt/ verb [T]
► BANKING to take or pay money out of a bank account, etc.: »

Your account will be debited as soon as your order has been shipped.

 debit an account/card with sth »

By agreeing to these conditions, you give permission for us to debit your credit card with the amount stated above.

 debit sth from sb’s account »

She later discovered that the bank had accidentally debited $517.23 from her account twice.

► ACCOUNTING to record an amount in a company's financial accounts which represents money that has been used to pay an expense or buy an asset. In double-entry bookkeeping this is done on the left-hand side (= the debit side) of the accounts.
→ Compare CREDIT(Cf. ↑credit)

Financial and business terms. 2012.

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Look at other dictionaries:

  • débit — débit …   Dictionnaire des rimes

  • Debit — Débit Cette page d’homonymie répertorie les différents sujets et articles partageant un même nom …   Wikipédia en Français

  • débit — DÉBIT. s. m. Vente, trafic. Débit de draps, de dentelles. Marchandises, étoffes de débit, de bon débit, de mauvais débit. Cela n est pas de débit. Il se fait un grand débit de ... f♛/b] On dit figurément, qu Un homme a un beau débit, qu il a le… …   Dictionnaire de l'Académie Française 1798

  • debit — DEBIT. s. m. Vente, trafic. Debit de draps, de dentelles. marchandises, estoffes de debit, de bon debit, de mauvais debit. il se fait un grand debit de &c. il ne sçauroit trouver le debit de sa marchandise. On dit fig. Il a un beau debit. il a le …   Dictionnaire de l'Académie française

  • debit — I noun amount due, amount payable, arrears, bills, commitment, debt, deferred payment, expensum, indebtedness, liability, obligation, pecuniary due, sum owing, that which is owed associated concepts: debit agent, debit and credit system, debit… …   Law dictionary

  • Debit — Deb it, v. t. [imp. & p. p. {Debited}; p. pr. & vb. n. {Debiting}.] 1. To charge with debt; the opposite of, and correlative to, credit; as, to debit a purchaser for the goods sold. [1913 Webster] 2. (Bookkeeping) To enter on the debtor (Dr.)… …   The Collaborative International Dictionary of English

  • Debit — Deb it, n. [L. debitum what is due, debt, from debere to owe: cf. F. d[ e]bit. See {Debt}.] A debt; an entry on the debtor (Dr.) side of an account; mostly used adjectively; as, the debit side of an account. [1913 Webster] …   The Collaborative International Dictionary of English

  • Debit — (franz., spr. bī), Vertrieb, Verkauf, Verschleiß einer Ware; auch Konzession zum Verkauf monopolisierter Handelsartikel. Debitant ist besonders derjenige, der eine Ware im kleinen an die Konsumenten verkauft (debitiert, in Österreich:… …   Meyers Großes Konversations-Lexikon

  • debit — (n.) mid 15c., from M.Fr. debet or directly from L. debitum thing owed, that which is owing, neut. pp. of debere to owe (see DEBT (Cf. debt)). As a verb from 1680s. Debit card is attested from 1975 …   Etymology dictionary

  • debit — {{/stl 13}}{{stl 8}}rz. mnż I, D. u, Mc. debiticie, blm {{/stl 8}}{{stl 7}} pozwolenie na rozpowszechnianie druków lub czasopism zagranicznych w danym państwie : {{/stl 7}}{{stl 10}}Otrzymać, stracić debit. Rozprowadzać prasę bez debitu.… …   Langenscheidt Polski wyjaśnień

  • debit — [deb′it] n. [LME & OFr debite < L debitum, what is owing, debt; neut. pp. of debere: see DEBT] 1. Accounting a) the left hand side of an account, where entries are made showing an increase in assets, a decrease in liabilities, etc. b) such an… …   English World dictionary

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