debit entry


debit entry
An entry made in double-entry book-keeping on the left-hand side of an account. It records either an increase in an asset or expense or a decrease in a liability, revenue, or equity item. For example, cash paid into the bank from a debtor will increase the asset of cash. The entries to be made are debiting the bank and crediting the debtors' ledger control account.
Compare: credit entry

Accounting dictionary. 2014.

Look at other dictionaries:

  • debit entry — An accounting transaction under *double entry bookkeeping that increases *assets and *expenses, or reduces liabilities, *revenues, and *equity A debit entry has a corresponding *credit entry (or credit entries) of equal value …   Auditor's dictionary

  • debit entry — noun an accounting entry acknowledging sums that are owing • Syn: ↑debit • Ant: ↑credit (for: ↑debit) • Derivationally related forms: ↑debit (for: ↑ …   Useful english dictionary

  • debit entry — / debɪt ˌentri/ noun an entry on the debit side of an account …   Marketing dictionary in english

  • debit entry — / debɪt ˌentri/ noun an entry on the debit side of an account …   Dictionary of banking and finance

  • debit — I noun amount due, amount payable, arrears, bills, commitment, debt, deferred payment, expensum, indebtedness, liability, obligation, pecuniary due, sum owing, that which is owed associated concepts: debit agent, debit and credit system, debit… …   Law dictionary

  • Debit — Deb it, n. [L. debitum what is due, debt, from debere to owe: cf. F. d[ e]bit. See {Debt}.] A debt; an entry on the debtor (Dr.) side of an account; mostly used adjectively; as, the debit side of an account. [1913 Webster] …   The Collaborative International Dictionary of English

  • debit — [deb′it] n. [LME & OFr debite < L debitum, what is owing, debt; neut. pp. of debere: see DEBT] 1. Accounting a) the left hand side of an account, where entries are made showing an increase in assets, a decrease in liabilities, etc. b) such an… …   English World dictionary

  • debit — ► NOUN 1) an entry in an account recording a sum owed. 2) a payment made or owed. ► VERB (debited, debiting) ▪ (of a bank) remove (money) from a customer s account. ORIGIN French, from Latin debitum something owed …   English terms dictionary

  • debit — To debit is to place an entry on the left hand side of an account. A debit in a liability account makes it smaller. A debit in an asset account makes it larger. Glossary of Business Terms An expense, or money paid out from an account. A debit… …   Financial and business terms

  • Debit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl …   Wikipedia