2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Every day we make a variety of purchases, pay utility bills. Sometimes we visit exhibitions, restaurants and other entertainment venues. As a rule, we also in most cases get to work either by public transport or by our own car. That is, again, we pay for gasoline and the use of equipment. Without knowing it, we are daily confronted, even at a basic level, with the basics of accounting. At the same time, the main concepts with which a person deals are the terms "debit" and "credit". Our compatriots are more or less familiar with the last definition. But what is a debit - not everyone represents. Let's try to understand this term in more detail.
History of occurrence
The phrase "accounting debit" is often used in professional speech and activities of economists, businessmen, various financial organizations and financial institutions. Toto understand in more detail the nature of the origin and the purpose of using this definition, let's turn to history. In modern Russian, a huge number of borrowed words are used. One of these is the term "debit". He came to us from the German language. Although the word takes its origins in the Roman Empire. Its original form is the definition of Debitum (Latin), which means "debt" in translation. Its shorter form - debet - specifies this concept and is translated as "he must". It is noteworthy that the prefix de stands out in this word. Based on Latin grammar, this short part means reduction, reduction. The second half of the term is translated as "estate" or "to have". Combining the two components, you get what “debit” means: “a reduction in cash.”
Similar terms
Let's compare with English. It contains the word debt, which is almost identical to the term described. Translated into the great and mighty, this concept means "duty".
In addition, the question “what is a debit” can also be considered from a physical point of view. So, in French speech, this word began to be used in the meaning of "expenditure". A certain amount of resource (oil, gas, water), which gives a source for a certain period of time, is the debit. Please note that the physical concept is written differently: through "and".
Financial definition
Currently, the term "debit" is used quite often, especially in the implementation of economic settlementactions. The modern meaning of this word is fully reflected in the ongoing banking operations. Under any conditions, when it is necessary to transfer funds from the client's account, debiting occurs, i.e. money is debited.
Let's consider an example. You decide to pay the supplier for the delivered equipment. Under the terms of the contract, payment can be made by bank check. The supplier goes to the bank and gives the security to the competent person. You receive a message that the amount of "N" rubles was debited to an account belonging to you. That is, the funds were blocked for further debiting.
Accounting policies of organizations
What is a debit as an accounting concept? Each organization, regardless of the form of ownership and the purpose of its activities, is obliged to implement a strictly regulated accounting policy.
As a rule, this type of activity involves working with two-sided tables - accounts. Each of them has its own number and name. However, the entire group of accounts is combined under the general concept of "Balance Sheet". The left side of the table represents the "debit". Accounts in accounting, there are a huge number. At the same time, depending on the type of organization, only certain ones are used.
"Active" debit
Any account belongs to one of the three groups of the Balance Sheet. It can be active, passive or active-passive. In the first category, the debit acts as an incoming part. For example,receipt of materials to the warehouse from the supplier. In the accounting of the organization, this entry (posting) will look like this:
| Debit (D-t) | Credit (C-t) |
| Materials received |
In this case, the meaning of "debit" as "a reduction in what is available" refers to the opponent. That is, the availability of materials has decreased at the supplier. And the organization acts as its debtor. For balance, it is necessary to pay for the transfer of materials under the conditions specified in the contract.
Second option
Besides active, debit can take the opposite position. This occurs when the account on which the operation is carried out is passive. Consider an example: an organization took a short-term loan in the amount of 10 thousand monetary units. To account for this receipt on the accounts of the organization, the account for the operation is determined. In this case, it is number 90 “Short-term credits and loans.”
The debit of the account reflects the receipt of funds and, which in this case we are more interested in, the increased debt of the organization to the financial institution.
| Debit (D-t) | Credit (C-t) |
| CU10,000 |
If the company repays the loan, the record appears on the right side. For example: an organization took out a short-term loan in the amount of 10thousand monetary units and contributed 1000 monetary units towards its repayment. Then the wiring will look like this:
| Debit (D-t) | Credit (C-t) |
| CU10,000 | CU1000 |
| Ending balance: | |
| 9000 CU | |
That is, having received a loan from the bank, the company becomes its debtor (it reduced the bank's property by the specified amount). In turn, paying off the debt, the company performs another function. It lends to a financial institution (increases its availability of funds). Simultaneously with this process, the organization reduces its receivables. Balance means balance. The debit of the account is calculated for a certain period of time: month, quarter, year.
Conclusion
Summarizing all of the above, we conclude: what is a debit? The most important thing is the acceptance of an entry in the balance sheet of a particular organization. The debit of an active account means an increase in the amount of received materials, cash and other valuables. Recording of these transactions, as a rule, begins on the first day and ends on the last day of the reporting month. If the account is passive, then the debit shows a decrease in the organization's cash or its increased debt to third parties. As for active operations, here the month is selected as the period.
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