Accounting Dictionary - Letter D
is the left side of a T account. Debit is also an entry on the left side of an account. Under the double entry bookkeeping system, debits increase asset and expense accounts and decrease liability, equity, and income (revenue) accounts. Debiting is a verb that means making a debit entry.
Don't see the term you are looking for? Try searching our entire website:
Not a member?
See why people join our
online accounting course:
online accounting course:
