AndCompta
Sign inTry it free
Accounting

Debit

The left-hand side of a journal entry, where debit movements are recorded for the relevant accounts.

Among other things, debits record increases in assets and expenses. Total debits in a journal entry must equal total credits.

An example

In a credit sale, the Customers account is debited for the full amount.

The typical mistake

Reading debit as "money I owe". It is a bookkeeping side, not an economic description.

How it appears in AndCompta

Every journal entry shows both sides and their totals, and an imbalance cannot be saved. In the general ledger, you can trace an account's debit back to its source document.

Where we explain it in depth

Related terms

CreditThe right-hand column of an accounting entry, where the credits for each operation are recorded.Double-entry bookkeepingThe principle according to which every operation is recorded at the same time as the debit of one account and the credit of another, for the same amount.Journal entryThe accounting entry that records a specific economic operation in the journal.

This definition is general information, not tax or accounting advice. For your specific case, consult a professional and always check the official source.

Try it free