| Part of Speech | Definition | |
| Adjective | 1. Being outflowing.
[Eve - graph theoretic] 2. Being taxing.[Eve - graph theoretic] | |
| Verb | 1. Present participle conjugation of the verb debit.[Eve - graph theoretic] | |
| Verb Base (debit) | 1. Enter as debit.[Wordnet]. 2. To charge with debt; -- the opposite of, and correlative to, credit; as, to debit a purchaser for the goods sold.[Websters]. 3. To enter on the debtor (Dr.) side of an account; as, to debit the amount of goods sold.[Websters]. 4. Base verb from the following inflections: debiting, debited, debits, debitor, debitors, debitingly and debitedly.[Eve - graph theoretic] | |
Sources: compiled from various sources, (under license) copyright 2008. | Top | |
Date "DEBITING" was first used in popular English literature: sometime before 1828. (references) |
Specialty Definition: debit
| Domain | Definition | ||
| Noah Webster | [Noun] Debt. It is usually written debt. But it is used in mercantile language, as the debit side of an account.. Source: Webster's 1828 American Dictionary. | ||
| Banking | 1: A bank account entry subtracting a specific amount of money; the opposite of a credit. (references) | 2: Charges to an account. (references) | |
| Finance | (1) in accounting, an entry on the left-hand side of an account record in which amounts are recorded in a double-entry system of bookkeeping. (2) a charge to a customer's access account or deposit account. (references) | ||
| Housing | An entry in an account that shows an amount paid out or owed. The opposite of a credit to an account. (references) | ||
| Law | DEBIT, accounts, commerce. A term used in book-keeping, to express the left-hand page of the ledger, to which are carried all the articles supplied or paid on the subject of an account, or that are charged to that account. It also signifies the balance of an account. (references) | ||
| Military | 1. Any bookkeeping entry in recording a transaction, the effect of which is to decrease a liability, revenue, or capital account or increase an asset or expense account. 2. Having a balance that represents an asset. 3. The act of making such an entry. 4. A debit memo or debit invoice used in dealings with customers or suppliers. (references) | ||
| Wikipedic | Debit is an accounting and bookkeeping term that comes from the Latin word debere which means "to owe." The opposite of a debit is a credit. Debit is abbreviated Dr while credit is abbreviated Cr. (references) | ||
| Wiktionary | 1: [Adjective] of or relating to process of taking money from an account. (references) | 2: [Adjective] of or relating to the debit card function of a debit card rather than its often available credit card function {as used by US Postal Service, Walmart, and other payees}. (references) | 3: [Noun] A sum of money taken out of an account. (references) | 4: [Noun] In bookkeeping, an entry in the left hand column of an account to record a debt. (references) | 5: [Verb] To make an entry on the debit side of an account. (references) | 6: [Verb] To remove a sum of money from an account as a payment. (references) |
Source: compiled by the editor from various references; see credits. | Top | ||
Common Expressions: debit
| Expressions | Definition | ||
| Debit card | A card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account. Source: Wordnet 3.0 Copyright © 2006 by Princeton University. All rights reserved. | ||
| Debit entry | An accounting entry acknowledging sums that are owing. Source: Wordnet 3.0 Copyright © 2006 by Princeton University. All rights reserved. | ||
| Debit side | Account of payments owed; usually the left side of a financial statement. Source: Wordnet 3.0 Copyright © 2006 by Princeton University. All rights reserved. | ||
| Direct Debit | In the United Kingdom, a Direct Debit is an instruction from a customer to their bank or building society authorising an organisation to collect varying amounts from their account, as long as the customer has been given advance notice of the collection amounts and dates. (references) | ||
Source: compiled by the editor from various references; see credits. | Top | ||
Specialty Expressions: debit
| Expressions | Domain | Definition | |
| Debit Card | Banking | 1: A plastic card giving consumers access to their funds electronically. Debit cards act like checks when paying for goods and services or withdrawing cash at automated teller machines. See also Automated Teller Machine; Credit Card; Magnetic Stripe Card. (references) | |
| 2: A card that resembles a credit card but which debits a transaction account (checking account) with the transfers occurring contemporaneously with the customer's purchases. A debit card may be machine readable, allowing for the activation of an automated teller machine or other automated payments equipment. (references) | |||
| Debit card | Business | This card allows you to access the money in your checking or savings account electronically to make purchases. (references) | |
| Debit card | Finance | A plastic card with which a customer may withdraw funds on deposit in the customer's account using an automated teller machine. Some merchants accept debit cards, treating them the same as cash. A debit card transaction pays the seller of goods or services by withdrawing funds already on deposit in the buyer's account, as opposed to a credit card transaction in which funds are loaned to the buyer by the card issuer. (references) | |
| Debit card | Military | A card issued by a bank or financial institution that, when used, produces an instant deduction (i.e., a debit) from an account or credit line. (references) | |
| Debit Items | Aerospace | Any item that increases your customer's balance. Receivables includes invoices, debit memos, and chargebacks as debit items. Debit items remain open until the balance due is zero. (references) | |
| Debit Memo | Aerospace | An invoice you generate to send to a supplier representing a credit amount that the supplier owes to you. Also, debit memos are debits that you assign to your customer for additional charges that you want to collect. For example, you may want to charge your customers for unearned discounts taken, additional freight charges, taxes, and finance charges. (references) | |
| Debit Memo Reversal | Aerospace | A reversal of a payment that generates a new debit memo, instead of reopening old invoices and debit memos. (references) | |
| Direct Debit | Aerospace | An agreement made with your customer to allow the transfer of funds from their bank account to your bank account. The transfer of funds occurs when the bank receives a document or tape containing the invoices to be paid. (references) | |
Source: compiled by the editor from various references; see credits. | Top | ||
