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TeachMeFinance.com - explain debit debit -- (1) in accounting, an entry on the left-hand side of an account record in which amounts are recorded in a double-entry system of bookkeeping. (2) a charge to a customer's access account or deposit account. historic definition... Debit -- A debt recorded in an account. A debit entry in an account is an unfavorable entry ; it is the reverse of a credit entry. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.