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debit

verb

/dɛb ɪt/

IPA:

Dictionary definition of debit

To deduct or subtract an amount from an account or balance, typically in a financial or accounting context.
"The bank will automatically debit the mortgage payment from your checking account."

Detailed meaning of debit

When one debits an account, they record a transaction that reduces the available funds or increases the liabilities associated with that account. This action can involve withdrawing money, making a payment, or charging an expense against a specified account. Debiting is a fundamental process in bookkeeping and financial management, ensuring accurate recording and tracking of monetary transactions. It involves updating financial records, ledgers, or statements to reflect the decrease in assets or the increase in debts. By debiting an account, one effectively decreases the balance or amount available, reflecting the transfer of value or resources from the account.

Example sentences containing debit

1. The cashier will debit the purchase amount from your account.
2. Don't forget to debit the expense for office supplies from the petty cash account.
3. They will debit your credit card for the monthly subscription fee.
4. Please remember to debit the returned item from the customer's store credit.
5. The accountant will debit the sales revenue and credit the accounts receivable.
6. The company will debit the inventory account for the cost of goods sold.

History and etymology of debit

The verb 'debit' has its etymological roots in Latin and French. It is derived from the Latin word 'debitum,' which means 'something owed' or 'debt.' In medieval Latin, 'debitare' emerged, signifying 'to owe' or 'to debit.' This Latin term was later adopted into Old French as 'debiter,' which had a similar meaning of owing or debiting. Over time, in English, 'debit' came to denote the action of deducting or subtracting an amount from an account or balance, particularly in financial or accounting contexts. The etymology of 'debit' highlights its historical connection to the concept of owing or debt, emphasizing its role in financial transactions where sums are either owed or deducted from accounts.

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Further usage examples of debit

1. The utility company will debit your account for the electricity bill.
2. The system will automatically debit the monthly membership fee from your account.
3. Make sure to debit the appropriate expense account for the advertising campaign.
4. The customer requested to debit the refund to their credit card instead of issuing a check.
5. The finance team will debit the appropriate accounts for the tax payments.
6. I'll debit your account for the monthly subscription fee.
7. The bank will debit your account for the overdraft charge.
8. They debited the incorrect amount from my credit card.
9. Please debit the invoice amount from our account.
10. The purchase will debit your checking account instantly.
11. I didn't authorize them to debit my account for that amount.
12. The system will automatically debit your account on the due date.
13. I asked the bank to debit the loan installment today.
14. They accidentally debited my savings account instead of checking.
15. Don't forget to debit the interest from the principal amount.
16. The vendor will debit our account once the order ships.
17. The utility company will debit your account for the monthly bill.
18. Please debit the shipping cost from our company's funds.
19. We'll debit your account for the outstanding balance.
20. The subscription service will debit your card every month.
21. The error prompted them to debit the incorrect transaction.
22. I noticed they forgot to debit the sales tax on the invoice.
23. The store will debit your gift card for the purchase amount.
24. The finance team will debit the expense from the budget.
25. They mistakenly debited twice, causing an overdraft.