Definitions for Debit
ˈdɛb ɪtdeb·it

Princeton's WordNetRate this definition:0.0 / 0 votes

1. debit, debit entryverb

   an accounting entry acknowledging sums that are owing

2. debitverb

   enter as debit

WiktionaryRate this definition:0.0 / 0 votes

1. debitnoun

   In bookkeeping, an entry in the left hand column of an account to record a debt.

2. debitnoun

   A sum of money taken out of an account.

3. debitverb

   To make an entry on the debit side of an account.

4. debitverb

   To remove a sum of money from an account as a payment.

5. debitadjective

   of or relating to process of taking money from an account

6. debitadjective

   of or relating to the debit card function of a debit card rather than its often available credit card function {as used by US Postal Service, Walmart, and other payees}

7. Etymology: From debilitum, neuter past participle of debere; see debt.

WikipediaRate this definition:0.0 / 0 votes

1. Debit

   Debits and credits in double-entry bookkeeping are entries made in account ledgers to record changes in value resulting from business transactions. A debit entry in an account represents a transfer of value to that account, and a credit entry represents a transfer from the account. Each transaction transfers value from credited accounts to debited accounts. For example, a tenant who writes a rent cheque to a landlord would enter a credit for the bank account on which the cheque is drawn, and a debit in a rent expense account. Similarly, the landlord would enter a credit in the rent income account associated with the tenant and a debit for the bank account where the cheque is deposited. Debits and credits are traditionally distinguished by writing the transfer amounts in separate columns of an account book. The use of separate columns simplifies calculation of the balance for the account. First the debit column is totaled, then the credit column is totaled. The account balance is calculated by subtracting the smaller total from the larger total. Only one subtraction is needed, simplifying calculations before the availability of computers. Alternately, debits and credits can be listed in one column, indicating debits with the suffix "Dr" or writing them plain, and indicating credits with the suffix "Cr" or a minus sign. Despite the use of a minus sign, debits and credits do not correspond directly to positive and negative numbers. When the total of debits in an account exceeds the total of credits, the account is said to have a net debit balance equal to the difference; when the opposite is true, it has a net credit balance. Debit balances are normal for asset and expense accounts, and credit balances are normal for liability, equity and revenue accounts. When a particular account has a normal balance, it is reported as a positive number, while a negative balance indicates an abnormal situation, as when a bank account is overdrawn. In some systems, negative balances are highlighted in red type.

ChatGPTRate this definition:0.0 / 0 votes

1. debit

   A debit refers to an accounting entry that signifies an increase in assets or an expense, or a decrease in liabilities or income. It is the opposite of credit. In bank accounts, debits usually indicate money paid out or subtracted from the account.

Webster DictionaryRate this definition:0.0 / 0 votes

1. Debitnoun

   a debt; an entry on the debtor (Dr.) side of an account; -- mostly used adjectively; as, the debit side of an account

2. Debitverb

   to charge with debt; -- the opposite of, and correlative to, credit; as, to debit a purchaser for the goods sold

3. Debitverb

   to enter on the debtor (Dr.) side of an account; as, to debit the amount of goods sold

4. Etymology: [L. debitum what is due, debt, from debere to owe: cf. F. dbit. See Debt.]

Chambers 20th Century DictionaryRate this definition:0.0 / 0 votes

1. Debit

   deb′it, n. a debt or something due: an entry on the debtor side of an account.—v.t. to charge with debt: to enter on the debtor side of an account.—n. Deb′itor (Shak.), a debtor. [L. debitum, what is due, from debēre, to owe.]

Matched Categories

1. • Account
   • Accounting

Anagrams for Debit »

1. bidet

2. bited

How to pronounce Debit?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say Debit in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of Debit in Chaldean Numerology is: 7

2. Pythagorean Numerology

   The numerical value of Debit in Pythagorean Numerology is: 4

Examples of Debit in a Sentence

1. Steven Bertolino:

   While Brian Laundrie is currently charged with the unauthorized use of a debit card belonging to Gabby, Brian is only considered a person of interest in relation to Gabby Petito’s demise, at this time Brian is still missing and when he is located we will address the pending fraud charge against him.

2. Visa Inc:

   Instead of complying with the terms of the commercial agreement that the two companies negotiated and agreed to in 2015, Walmart is attempting to avoid its obligation to provide a signature option for their customers when paying with a Visa debit card.

3. Henry Wrobel:

   I set up auto-debit to pay my electric bill, phone bill, insurance, TV, ’ and out of that, he checked ‘ no, his wife does it. ’.

4. Laura Levine:

   Practice by using an app or student debit card. Teach on a smaller scale, within safety, but with the consequences of their actions, to gain your child's interest, make sure the kids are presented with the discussion in a way that speaks to them. In a way that they can see themselves in the example.

5. Todd Bensman:

   I have been watching the United Nations, UNHCR distribute cash debit cards to migrants. They’re providing food, basic necessities, prescription drugs. They call it movement assistance, which is to say they're providing, transportation money so that migrants can continue moving forward.

Popularity rank by frequency of use

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=Debit
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Debit
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Debit
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Webster Dictionary
   https://www.merriam-webster.com/dictionary/Debit
6. ^ Chambers 20th Century Dictionary
   https://www.gutenberg.org/files/37683/37683-h/37683-h.htm#:~:text=Debit