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DEBIT

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deb⋅it

  [deb-it]
Use DEBIT in a Sentence
–noun
1. the recording or an entry of debt in an account.
2. Bookkeeping.
a. that which is entered in an account as a debt; a recorded item of debt.
b. any entry or the total shown on the debit side.
c. the left-hand side of an account on which such entries are made (opposed to credit ).
3. an undesirable or disadvantageous feature.
–verb (used with object)
4. to charge with a debt: The store debited her account for the purchase.
5. to charge as a debt: The store debited the purchase to her account.
6. Bookkeeping. to enter upon the debit side of an account.
Origin:
1400–50; late ME < OF < L dēbitum something owed; see debt
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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deb·it   (děb'ĭt)   
n.  

  1. Accounting

    1. An item of debt as recorded in an account.

    2. The left-hand side of an account or accounting ledger where bookkeeping entries are made.

    3. An entry of a sum in the left-hand side of an account.

    4. The sum of such entries.

  2. A drawback; a detriment.

tr.v.   deb·it·ed, deb·it·ing, deb·its

  1. To enter (a sum) on the left-hand side of an account or accounting ledger.

  2. To charge with a debit: The bank debited my account for the overdrawn check.


[Middle English debite, from Latin dēbitum, debt; see debt.]
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Word Origin & History

debit 
c.1450, from M.Fr. debet, from L. debilitum "thing owed," neut. pp. of debere "to owe" (see debt).
Online Etymology Dictionary, © 2001 Douglas Harper
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Financial Dictionary

Debit

An accounting entry which results in either an increase in assets or a decrease in liabilities on a company's balance sheet or in your bank account.

Investopedia Commentary

The opposite transaction is called a credit.

Related Links

What Is A Cash Flow Statement?
Reading The Balance Sheet
Introduction to Fundamental Analysis
Advanced Financial Statement Analysis

See also: Accounting, Asset, Balance Sheet, Credit, Debt, Generally Accepted Accounting Principles - GAAP, Liability

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Financial Dictionary

debit

An accounting entry that results in an increase in assets or a decrease in liabilities or owners' equity. Compare credit 2.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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