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Glossary > D > "Debit" Definition

Debit

An accounting entry which results in either an increase in assets or a decrease in liabilities or in your bank account.

An outflow of funds from an account with a bank or financial institution. For example: When a person writes a cheque, his/her account will subsequently be debited with the amount.

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Debit - An accounting entry which results in either an increase in assets or a decrease in liabilities or in your bank account.

An outflow of funds from an account with a bank or financial institution. For example: When a person writes a cheque, his/her account will subsequently be debited with the amount.

Debit : an accounting entry which results in either an increase in assets or a decrease in liabilities or in your bank account.

an outflow of funds from an account with a bank or financial institution. for example: when a person writes a cheque, his/her account will subsequently be debited with the amount.