Longman Dictionary of Contemporary English homepage

Topic: BANKING

Date: 1400-1500
Language: Latin
Origin: debitum 'debt'; DEBT

debit

1 noun
     
deb‧it1 [countable]
1 technicalBFBBFB a decrease in the amount of money in a bank account, for example because you have taken money out of it [≠ credit; ↪ direct debit]
2 technical a record in financial accounts that shows money that has been spent or that is owed [≠ credit]
3

on the debit side

used to say that something is a disadvantage in a particular situation, especially after you have described the advantages:
Bikes are easy to park, but on the debit side can be dangerous in traffic.
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