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Meaning of debit

noun

In bookkeeping, an entry in the left hand column of an account. Example: A cash sale is recorded as debit on the cash account and as credit on the sales account.
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.

verb

To make an entry on the debit side of an account.
To record a receivable in the bookkeeping. Example: We shall debit the amount of your purchase to your account.

adjective

Of or relating to process of taking money from an account
Of or relating to the debit card function of a debit card rather than its often available credit card function

Source: Free Dictionary API.

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