debit

[ˈdɛbɪt]

debit Definition

• 1. an entry recording an amount owed, listed on the left-hand side or column of an account
• 2. a payment made or owed

Using debit: Examples

Take a moment to familiarize yourself with how "debit" can be used in various situations through the following examples!

• Example

  The bank made a debit from my account for the monthly fee.

• Example

  The company's debits and credits must balance at the end of the fiscal year.

• Example

  I need to check my debit card balance before making a purchase.

debit Synonyms and Antonyms

Synonyms for debit

• charge
• account
• entry
• record

Antonyms for debit

• credit

Phrases with debit

• debit balance

  the amount by which the debits in an account exceed the credits

  Example

  The account has a debit balance of $500.

• debit note

  a document sent by a seller to a buyer, notifying them of a debit made to their account

  Example

  The supplier issued a debit note for the returned goods.

• debit card

  a plastic card that allows the holder to withdraw money or pay for purchases directly from their bank account

  Example

  I prefer using a debit card instead of a credit card to avoid debt.

Origins of debit

from Latin 'debere', meaning 'to owe'

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Summary: debit in Brief

The term 'debit' [ˈdɛbɪt] refers to an entry recording an amount owed, listed on the left-hand side or column of an account, or a payment made or owed. It is often used in financial contexts, such as 'The bank made a debit from my account for the monthly fee.' 'Debit' extends into phrases like 'debit balance,' denoting the amount by which the debits in an account exceed the credits, and 'debit card,' a plastic card that allows the holder to withdraw money or pay for purchases directly from their bank account.