Debit
Definition
An entry recorded on the left side of an account. Increases assets and expenses; decreases liabilities, equity, and revenue.
Long reference
Handbook
Debits and Credits
Citations, procedures, and worked examples for debit.
Related terms
Credit
An entry recorded on the right side of an account. Decreases assets and expenses; increases liabilities, equity, and revenue.
Journal entry
A dated record of a financial transaction showing equal debits and credits across two or more accounts.
Normal balance
The side (debit or credit) on which an account ordinarily carries a positive balance. Assets and expenses are normal-debit; liabilities, equity, and revenue are normal-credit.