Debits

In financial terms, a debit is an entry that records an increase in assets or expenses, or a decrease in liabilities or equity on an account. When you see a debit, it usually means money is being taken out of your account or resources are increasing. For example, when you make a purchase with a debit card, funds are debited from your bank account. Debits are recorded on the left side of accounting books and are essential for tracking financial transactions accurately, ensuring the books balance and reflect the true financial position.