Debit
/ˈdɛbɪt/
Definitions
- (n.) An entry recording an amount owed, representing money taken from an account.
The bank statement showed a debit of $50 for groceries.
- (v.) To record a sum of money as a debit to an account.
The accountant debited the expense to the marketing budget.
Forms
- debits
- debited
- debiting
Related terms
See also
Commentary
Debit entries generally indicate funds leaving an account; clarity is needed to avoid confusion with credits.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.