Debit means left or left side. For example, every accounting entry will have a debit and credit amount. The debit amount is usually listed first and will be entered on the left side of the general ledger account indicated. (The credit amount will be entered on the right side of another account.) The general ledger accounts will have both a debit and credit side, or left and right side. The balance in a general ledger account will be either a debit balance or a credit balance.

Asset accounts, expense accounts, and the owner's drawing account are expected to have debit balances. These debit balances will be increased when additional debit amounts are entered.

To illustrate the above, let's assume that a company has cash of $500. The company's general ledger asset account Cash should indicate a debit balance of $500. If the company receives an additional $200, a debit entry will be made and will result in the Cash account having a debit balance of $700.

Sometimes the word charge is used in place of debit. For example, if a company does advertising of $900, the accountant will charge Advertising Expense for $900.

The accepted abbreviation for debit is dr.

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