debit
verb
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Definition of debit
(Entry 1 of 2)
debit
nounDefinition of debit (Entry 2 of 2)
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Synonyms & Antonyms for debit
Synonyms: Noun
disadvantage, disbenefit, downside, drawback, handicap, incommodity, liability, minus, negative, strike
Antonyms: Noun
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Examples of debit in a Sentence
Verb
The bank mistakenly debited my account $200! Your account will automatically be debited for the amount of your insurance bill every month.Noun
I forgot to enter some of the debits in my bank account register. The account's credits were added and the debits subtracted. a $30 debit for groceries
Recent Examples on the Web: Verb
Five days later, $10,451 was debited from the Ally account and used to make a payment on an American Express card in Williams’s name. — Justin Rohrlich, Quartz, "Online “people finder” sites are a blessing for identity thieves," 20 Aug. 2019 On June 13 officers met with a resident who reported receiving a message on their computer purporting to be from Microsoft indicating that a pornography website had debited $15,000 from their checking account. — chicagotribune.com, "Blotter: 2 unlocked vehicles burglarized in Winnetka," 20 June 2019 In payday lending, examinations uncovered violations such as sending out misleading collection letters and debiting consumers’ accounts without valid authorization. — Yuka Hayashi, WSJ, "CFPB Issues First Supervision Report Under Mulvaney," 6 Sep. 2018 Consider that when China imports chips and screens from other Asian countries, and assembles the components before exporting finished products to the U.S., the entire value of the goods is debited from the U.S.-China bilateral balance. — Jason Furman, WSJ, "Currency Manipulation Isn’t Among China’s Trade Sins," 15 Oct. 2018 When a vehicle with a transponder travels through an E-ZPass toll facility, an antenna at the toll plaza reads the information on the transponder and the toll is automatically debited from the pass holder’s account. — Luz Lazo, Washington Post, "Should you get your E-ZPass in Maryland or Virginia?," 31 May 2018 Aran Coello said the move will help speed up the check-in process because cash transactions take longer then debit/credit transactions. — Chabeli Herrera, miamiherald, "American Airlines will no longer accept cash at Miami airport | Miami Herald," 16 Jan. 2018 They are credited with $3 million from Miami in the Stanton trade and are debited $5.5 million in the Brian McCann trade to Houston in November 2016 and $500,000 in the Chase Headley trade this month to San Diego. — USA TODAY, "Sabathia's $10M deal finalized by Yanks; payroll up to $178M," 26 Dec. 2017 The only distinguishing feature is that the money will be debited from the user’s Venmo balance. — Natasha Bach, Fortune, "Venmo Has Invited Some Users to Trial Its Ugly New Debit Card," 12 Sep. 2017Recent Examples on the Web: Noun
Hall recommends writing it down in two columns: Things that bring you joy go in the credit column, while things that drain your energy go in the debit column. — Lizz Schumer, Good Housekeeping, "Beat Holiday Stress by Making No — or Few — Plans This Year," 3 Sep. 2019 My husband showed his debit and driver’s license cards. — Sainted & Tainted Writers, Twin Cities, "Tainted: You left your dog in a hot car and then copped an attitude? Really?," 24 Aug. 2019 An investigation revealed the suspect was in possession of debit and identification cards not belonging to the suspect, in violation of the suspect’s probation terms. — Anne Gelhaus, The Mercury News, "Cupertino crime report for the week of Aug. 2," 23 July 2019 Expensive Season Ticket: £1995 Data collected for match-going adults does not include discounts (family pricing, direct debit, Early Bird) on offer, excluding Sheffield United. — SI.com, "Ranking the Average Prices of Premier League Club's Season Tickets Ahead of 2019/20 Season," 4 July 2019 Hawaii set up a similar cashless, debit payment app for medical marijuana sales, a system that’s available in several other states. — Michelle L. Price, BostonGlobe.com, "Nevada to try limited banking for cash-heavy pot industry," 10 June 2019 Now, there’s one big difference about paying for a transaction with an electronic check versus paying with a debit or credit card. — cleveland.com, "Is it safe to link Giant Eagle card to checking account for gas discounts? — Money Matters," 23 June 2019 Many dispensaries have onsite ATMs, and some have systems that accept debit or ATM cards. — Ally Marotti, chicagotribune.com, "Marijuana dispensary rolls out its own credit card as weed industry works to go beyond cash-only sales," 14 June 2019 The two also face charges in connection with car thefts in Greenfield and Oak Creek on May 27 and using debit and credit cards found in the vehicles to buy merchandise. — Jack Mccordick, Milwaukee Journal Sentinel, "Two face multiple felonies after high-speed chase from Franklin to Milwaukee," 8 June 2019These example sentences are selected automatically from various online news sources to reflect current usage of the word 'debit.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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More Definitions for debit
debit
nounFinancial Definition of debit
What It Is
A debit is an accounting record that represents either an increase in assets or a decrease in liabilities or net worth. A debit is the opposite of a credit.
How It Works
For example, let's say that Company XYZ sells $1,000,000 worth of widgets to John Doe for cash. On the balance sheet, the accountants would debit cash by $1,000,000 (that is, increase cash) and credit inventory by $1,000,000.
Why It Matters
In accounting terms, "debit" and "credit" confuse most people, and it is usually clearer (and safer) to indicate which accounts increase or decrease. However, any financial professional should know the terms.
Debits and credits reflect the double-entry bookkeeping method. This involves making at least two recording entries for every transaction: a debit in one account and a credit in another account. The method helps prevent errors because the sum of the debits should equal the sum of the credits.
Source: Investing Answers
debit
verb
English Language Learners Definition of debit
(Entry 1 of 2)
debit
nounEnglish Language Learners Definition of debit (Entry 2 of 2)
See the full definition for debit in the English Language Learners Dictionary
debit
verb
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