A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Debit Definition

December 3, 2015

Amanda Cameron

Term Definition
In double-entry bookkeeping, a debit shows an account gaining value.

Extended Definition
Debits increase asset and expense accounts. Debits also decrease liability, equity, and revenue accounts. You record debits on the left side of accounts. Debits are the opposite of credits. Debits help you balance your accounting books.

Related Article
Accounting Basics: Debits and Credits

Accounting software glossary ad