Debit Credit

Accountants and bookkeepers record transactions as debits and credits while keeping the accounting equation constantly in balance. This process is called double-entry bookkeeping. Double-entry bookkeeping records both sides of a transaction — debits and credits — and the accounting equation remains in balance as transactions are recorded.

Debit or Credit? The Real Difference. We’ve been there: you’re at the register paying for that long-coveted purchase. You swipe your ATM/Debit card and the touch screen asks, “Credit or Debit?”. Oct 24, 2018 When you hear the terms debit and credit, using a debit or credit card probably comes to mind. In accounting, debit and credit are terms used to describe increases in values of assets, items or accounts that increase your net worth, and liabilities which are known as a legally binding debt. You can see your debits.

For example, if a transaction decreases cash $25,000, then the other side of the transaction is a $25,000 increase in some other asset, or a $25,000 decrease in a liability, or a $25,000 increase in an expense (to cite three possibilities).

This illustration summarizes the basic rules for debits and credits. By long-standing convention, debits are shown on the left and credits on the right. An increase in a liability, owners’ equity, revenue, and income account is recorded as a credit, so the increase side is on the right. The recording of all transactions follows these rules for debits and credits.

Practically everyone has trouble with the rules of debits and credits. The rules aren’t very intuitive. Learning the rules for debits and credits is a rite of passage for bookkeepers and accountants. The only way to really understand the rules is to make accounting entries — over and over again. After a while, using the rules becomes like tying your shoes — you do it without even thinking about it.

Notice the horizontal and vertical lines under the accounts in the illustration above. These lines form the letter “T.” Although the actual accounts maintained by a business don’t necessarily look like T accounts, accounts usually have one column for increases and another column for decreases. In other words, an account has a debit column and a credit column. Also an account may have a running balance column to continuously keep track of the account’s balance.

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deb·it

(dĕb′ĭt)n.

2. The left-hand side of an account or accounting ledger where bookkeeping entries are made.

3. An entry of a sum in the left-hand side of an account.

tr.v.deb·it·ed,

deb·it·ing, deb·its

1. To enter (a sum) on the left-hand side of an account or accounting ledger.

2. To charge with a debit: If you use an ATM, the bank will debit your account immediately.

[Middle English debite, from Latin dēbitum, debt; see debt.]

debit

(ˈdɛbɪt) accountingn (Accounting & Book-keeping)

a. acknowledgment of a sum owing by entry on the left side of an account

c. an entry on this side

e. (as modifier): a debit balance. Compare credit¹⁰

vb, -bits, -bitingor-bited (Accounting & Book-keeping) (tr)

b. to charge (a person or his or her account) with a debt. Compare credit¹⁷

deb•it

(ˈdɛb ɪt)
n.

1. the record kept of another's indebtedness.

b. any entry or the total shown on the debit side.

c. the left-hand, or debit, side of an account (opposed to credit).

v.t.

4. to charge with or as a debt.

5. to enter on the debit side of a bookkeeping account.

[1400–50; late Middle English < Old French < Latin dēbitum something owed; see debt]

debit

Past participle: debited
Gerund: debiting

Imperative
debit
debit

Present
I debit
you debit
he/she/it debits
we debit
you debit
they debit

Preterite
I debited
you debited
he/she/it debited
we debited
you debited
they debited

Present Continuous
I am debiting
you are debiting
he/she/it is debiting
we are debiting
you are debiting
they are debiting

Present Perfect
I have debited
you have debited
he/she/it has debited
we have debited
you have debited
they have debited

Past Continuous
I was debiting
you were debiting
he/she/it was debiting
we were debiting
you were debiting
they were debiting

Past Perfect
I had debited
you had debited
he/she/it had debited
we had debited
you had debited
they had debited

Future
I will debit
you will debit
he/she/it will debit
we will debit
you will debit
they will debit

Future Perfect
I will have debited
you will have debited
he/she/it will have debited
we will have debited
you will have debited
they will have debited

Future Continuous
I will be debiting
you will be debiting
he/she/it will be debiting
we will be debiting
you will be debiting
they will be debiting

Present Perfect Continuous
I have been debiting
you have been debiting
he/she/it has been debiting
we have been debiting
you have been debiting
they have been debiting

Future Perfect Continuous
I will have been debiting
you will have been debiting
he/she/it will have been debiting
we will have been debiting
you will have been debiting
they will have been debiting

Past Perfect Continuous
I had been debiting
you had been debiting
he/she/it had been debiting
we had been debiting
you had been debiting
they had been debiting

Conditional
I would debit
you would debit
he/she/it would debit
we would debit
you would debit
they would debit

Past Conditional
I would have debited
you would have debited
he/she/it would have debited
we would have debited
you would have debited
they would have debited

Noun	1.	debit - an accounting entry acknowledging sums that are owing accounting entry, ledger entry, entry - a written record of a commercial transaction credit entry, credit - an accounting entry acknowledging income or capital items
Verb	1.	debit - enter as debit accounting - a system that provides quantitative information about finances charge - enter a certain amount as a charge; 'he charged me $15' credit - accounting: enter as credit; 'We credit your account with $100'

debit

verb

1.pay out fromWe will confirm with you before debiting your account.

noun

1.payout, debt, payment, commitment, liabilityThe total of debits must match the total of credits.

مَدِينمَدْيونِيَّهيَحْسُبُ عَلَىيُقَيِّدُ على حِساب فُلان

debetdebiteregældspost

veloittaaveloitus

dugovanjeteretiti

skuldfæraskuldfærsla

차변차변에 기입하다

debetsierakstīt debetā

pripísať na vrub

รายการของเงินที่หักบัญชีหักบัญชี

birinin hesabına borç kaydetmekborçborç kaydetmekhesabından çekilen para

debit

[ˈdebɪt]

A.N (in the books of a business) → pasivom; (in a bank account) → debe m, débitom; (= individual sum taken) → cargom

B.VTto debit an account with a sum → cargar una suma en cuenta
to debit sb with a sum → cargar una sumaen lacuenta de algn
to debit an account directly → domiciliar una cuenta
see alsodirectD

C.CPDdebit balanceN → saldomdeudor
debit cardN → tarjetaf de débito
debit entryN → débitom
debit noteN → notaf de cargo
debit sideN → debe m (fig) → desventajaf
on the debit side (lit) → en el debe (fig) → entre las desventajas

debit

[ˈdɛbɪt]

Debit Credit Banking

vt
to debit sb's account → débiter le compte de qn
to debit a sum to sb → porter une sommeau débit de qn, débiter qn d'une somme
to debit a sum to sb's account → porter une sommeau débit de qn, débiter qn d'une sommedebit balance n → soldemdébiteurdebit card n → cartef de paiement

debit

n → Schuldpostenm, → Debetnt; debit account → Debetkontont; debit balance → Debetsaldom; debit and credit → Sollnt → und Habennt; to enter something to the debit side of an account → etw auf der Sollseiteverbuchen; on the debit side(fig) → auf der Minusseite

vtto debit somebody/somebody’s account (with a sum), to debit (a sum) to somebody/somebody’s account → jdn/jdsKonto (mit einer Summe) belastenordebitieren(form)

debit

debit card

debit entry

debit

[ˈdɛbɪt] (Fin)

2.vt → addebitare
to debit sb/sb's account with a sum, to debit a sum to sb or to sb's account → addebitare una somma a qn/sul conto di qc

debit

(ˈdebit) noun

an entry on the side of an account which records what is owed. His debits outnumbered his credits. debiet مَدْيونِيَّه дебит débito pasivum; dluh die Belastung debet; gældspost χρεωστική εγγραφή débito deebet ستون بدهکار debet débitחיוב ऋण, उधार dugovanje, dug tartozás debet skuldfærsla addebito 借方 (記入) 차변 debetas debets catatan akaun hutang debetpostdebetdebet قرضدارى، (په پانكى معاملاتو كې) دوركړې ستون، په چاپسې دقرض ليكنه débito debit дебет pasívum; dlh dolg, breme zaduženje debet รายการของเงินที่ถูกหักจากบัญชี borç 記入借方的款項，客戶欠帳，借方，借 дебет کسی کھاتے میں واجب الادا رقم کا اندراج sự ghi nợ 记入借方的款项，客户欠帐，借方，借

verb – past tense, past participle ˈdebited –

to enter or record on this side of an account. debiteer, in rekening bring يُقَيِّدُ على حِساب فُلان вписвам в лявата страна на сметка debitar připsat na vrub belasten debitere χρεώνωcargar en cuenta deebetisse kandma در ستون بدهکار وارد کردن veloittaa débiter לְחָיֵיב उधार लिखना, खर्च के मद में लिखना opteretiti, zadužiti (meg)terhel mendebetkan skuldfæra addebitare 借方に記入する 차변에 기록하다 įrašyti į debetą ierakstīt debetā debit debiterendebitere obciążać rachunek قرضدارى debitar a debita дебетовать pripísať na vrub v breme pisati knjižiti na teret debitera หักบัญชี borç kaydetmek 將...記入借方 дебетувати, вносити у дебет ادھار کھاتے میں اندراج کرنا ghi nợ 将...记入借方

debit

→ مَدِين, يَحْسُبُ عَلَى debet, zatížit debet, debitereabbuchen, Schuldpostenχρεώνω, χρέωσηcargar, debitar, débito veloittaa, veloitusdébit, débiter dugovanje, teretitiaddebitare, debito 借方, 借方に記入する 차변, 차변에 기입하다debetsaldo, debiterenbelaste, debetdebet, obciążyćdebitar, débito

Debit Credit Acronym

дебет, дебетовать debet, debitera รายการของเงินที่หักบัญชี, หักบัญชีbirinin hesabına borç kaydetmek, hesabından çekilen para ghi nợ, sự ghi nợ

Debit Credit Asset

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