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What is a Debit?
In double-entry bookkeeping, debits and credits are kept in separate columns allows for each to be recorded independently from the other minimizing mistakes.
An account has either a credit or debit balance, or has no balance at all.
Debit originsThe 'debit' term comes from the Middle French word 'debet' and the latin word 'debitum' which means 'that which is owed'.
Debit and Credit PrincipleFor every transaction, the debits and credits must equal each other. Refer to our dictionary for more information about credit.
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