debit (redirected from debited)

Debit

An accounting entry which results in either an increase in assets or a decrease in liabilities on a company's balance sheet or in your bank account.

Notes:

The opposite transaction is called a credit.

See also: Accounting, Asset, Balance Sheet, Credit, Debt, Generally Accepted Accounting Principles - GAAP, Liability

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Debit

An expense, or money paid out from an account. A debit transaction is one which the net cost is greater than the net sale proceeds. See also Credit.

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debit

An accounting entry that results in an increase in assets or a decrease in liabilities or owners' equity. Compare credit.