debit


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debit

A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit.

Debit

 

the left side of bookkeeping accounts. All economic operations are recorded as a debit in one account and as a credit in another. In active accounts, debit designates an increase in recorded sums; in passive accounts, it designates a decrease. Thus, in active property accounts, which serve as a record of the movement of commercial-material values, a debit shows the value of goods on hand at the beginning of the year and the receipt of goods during the reporting year. In active settlement accounts, debit refers to the payments due from debtors at the beginning of the year and their increase during the course of the year; in passive settlement accounts. it is the settling of debts owed to creditors.

References in periodicals archive ?
When using a debit card, the only money you can access is what is in the associated account.
Clear Direct Debit is a specialist in providing Direct Debit solutions and advisory services.
Debit Mastercard even allows you to keep your card details on authorized merchant sites with a card-on-file feature for faster check-out.
And what better way to enjoy your debit cards than by getting perks for every purchase.
Plasencia added that with the Dolphin Debit ATMs, if there are any machine issues, technicians respond immediately to fix the problem and the credit union doesn't have to be concerned with managing them on a day-to-day basis.
Moving forward, the Bank targets to acquire at least 30 sizeable Direct Debit merchants with a minimum yearly collection of RM50 million in transaction value by end of 2018.
"We need a month's notice to cancel a direct debit." Not true.
The study also found enrollment of debit cards into Apple Pay increased 80 percent in 2016.
The Virtual Debit Card generated would include all relevant card details to process an online transaction, such as the 16 digit PAN number, expiry date and the CVV.
QIB offers a VISA Electron Card to all customers, with Tamayuz members receiving the Platinum MasterCard debit card, and Private Banking customers receiving the World MasterCard debit card.
Verdict Financial's "Kazakhstan Debit Cards Usage Analytics: 2009 to 2019" report acts as an essential tool for companies active across the Kazakh cards and payments value chain and for new players considering entering the market.