Definition, Meaning & Synonyms
debit
noun
/ˈdɛbɪt/
Definition
A debit is an entry recording an amount owed, typically associated with a bank account or financial transaction.
Examples
- When you make a purchase with your debit card, the money is deducted directly from your bank account.
- The accountant recorded a debit to reflect the money owed to the supplier.
Meaning
In finance, a debit indicates a reduction in assets or an increase in liabilities. It is commonly used to refer to money taken out of an account.
Synonyms
- charge
- withdrawal
- expense
