
All you need to know about the term: Debit
We come across the term debit regularly in our daily lives, particularly when dealing with monetary transfers or banking activities. Even our ATM card, which we use to withdraw currency and pay bills, is known as a debit card. So, what does the term debit mean, and how does it apply in the world of banking and accounting? Let’s take a look at what debt is and why it’s important not just in the banking world but also in the business world.… Read more