Accounting glossary
What is debit (bookkeeping)?
The other half of double entry. A debit increases assets and expenses, and decreases liabilities, equity and income. Every transaction debits at least one account and credits another for the same total — that symmetry is the whole system.
Example
Pay $500 of rent from the bank: rent expense is debited $500 and the bank (an asset) is credited $500.
The debit increased an expense and the credit decreased an asset — one transaction, two equal sides.
In SeroBooks
The journal shows both sides of every entry SeroBooks posts. Journal entries guide →