- The definition of a debit is a payment made, or a payment owed.
When money is taken out of your checking account to make a payment, this is an example of a debit.
- Debit is defined as the act of taking money out of a bank account.
When you withdraw $100 from your bank account, this is an example of a situation where the bank debits your account.
debit definition by Webster's New World
- the left-hand side of an account, where entries are made showing an increase in assets, a decrease in liabilities, etc.
- such an entry
- the sum of such entries
- a sum deducted from one's bank account, as for a check
- a disadvantage or shortcoming
Origin: Late Middle English and amp; Old French debite ; from Classical Latin debitum, what is owing, debt; neuter past participle of debere: see debt
debit definition by American Heritage Dictionary
- Accounting a. An item of debt as recorded in an account.b. The left-hand side of an account or accounting ledger where bookkeeping entries are made.c. An entry of a sum in the left-hand side of an account.d. The sum of such entries.
- A drawback; a detriment.
- To enter (a sum) on the left-hand side of an account or accounting ledger.
- To charge with a debit: The bank debited my account for the overdrawn check.
Origin: Middle English debite, from Latin dēbitum, debt; see debt.
debit - Business Definition
debit - Computer Definition
A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit.