Meaning & use
debits
Last updated
“debits” is a form of “debit”. See that entry for the full set of meanings.
Meanings
nouncountablefinance
Accounting entries that record money owed or taken out of an account.
Grammar: Countable; the singular is debit. Often used in plural when referring to multiple entries.
Patterns
- debits and credits
- record debits
The accountant listed all the debits and credits for the month.
Your bank statement shows several debits for ATM withdrawals.
Debits increase asset accounts and decrease liability accounts.
verbtransitivefinance
To take money from an account, especially automatically.
Grammar: Takes an object: debit an account. Often used in passive: the amount was debited.
Patterns
- debit an account
- debit someone's account
The bank debited my account for the monthly fee.
They will debit the payment on the first of the month.
Word forms
| singular | debit |
|---|---|
| third person singular | debits |
| past tense | debited |
| past participle | debited |
| -ing form | debiting |
Common combinations
- debit card
- I paid with my debit card instead of cash.
- debit account
- The store will debit your account when the order ships.
- direct debit
- I set up a direct debit to pay my utility bills.
Synonyms and how they differ
- charge
- Charge is a more general term for asking for payment; debit specifically means taking money from an account.
- withdrawal
- Withdrawal is a noun meaning money taken out; debit can be a noun or verb and is used in accounting contexts.
Opposites
Word family
Commonly confused: debits or debt?
debits vs debt
Debt is money you owe; debit is an accounting entry or the act of taking money from an account.
Practice
The bank will ________ your account for the service fee.
Choose one answer.
The sentence needs the base form of the verb after 'will'. 'Debt' is a noun, 'debits' is third-person singular, and 'debited' is past tense.
Make it your own
Write a sentence using “debits”, then check it and compare it with the examples above.