debits Meaning & Definition
What Does Debits Mean?
Debits is used as a noun meaning plural of debit. As a verb, it means third-person singular simple present indicative of debit. As a verb, it means To make an entry on the debit side of an account.
Debits Definition (Noun)
- plural of debit
Debits as a Verb
- third-person singular simple present indicative of debit
Noun
- In bookkeeping, an entry in the left hand column of an account.
A cash sale is recorded as debit on the cash account and as credit on the sales account.
- A sum of money taken out of a bank account. Thus called, because in bank's bookkeeping a cash withdrawal diminishes the amount of money held on the account, i.e. bank's debt to the customer.
Verb
- To make an entry on the debit side of an account.
- To record a receivable in the bookkeeping.
We shall debit the amount of your purchase to your account.
Synonyms of Debits
The source does not list synonyms for this entry.
Debits synonyms and antonyms →Debits in a Sentence
A cash sale is recorded as debit on the cash account and as credit on the sales account.
We shall debit the amount of your purchase to your account.
Word Forms & Grammar
debits