Debits
/ˈdɛbɪts/
Definitions
- (n.) Entries recording amounts owed or deducted from an account, especially in accounting and banking.
The accountant reviewed the debits in the ledger to reconcile the bank statement.
Forms
- debit
Related terms
See also
Commentary
Debits typically appear in pairs with credits; accurate recording is essential for maintaining balanced accounts.
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.