debit

Meanings

1. 1
   noun

   In bookkeeping, an entry in the left hand column of an account.

   A cash sale is recorded as debit on the cash account and as credit on the sales account.

2. 2
   verb

   To make an entry on the debit side of an account.

   The economist also observed that some of the Victoria Line's cost should be debited to existing lines, as they would benefit from the rebuilding of their interchange stations with the new tube.

3. 3
   verb

   To record a receivable in the bookkeeping.

   We shall debit your account for the amount of the purchase.

4. 4
   noun

   an accounting entry acknowledging sums that are owing

5. 5
   verb

   enter as debit

6. 6
   noun

   A sum of money taken out of a bank account. Thus called, because in bank's bookkeeping a cash withdrawal diminishes the amount of money held on the account, i.e. bank's debt to the customer.

7. 7
   adj

   of or relating to process of taking money from an account

8. 8
   adj

   of or relating to the debit card function of a debit card rather than its often available credit card function

Etymology

Borrowed from Middle French debet, from Latin debitum (“what is owed, a debt”), neuter of debitus, past participle of debere (“to owe”); Doublet of debt.