Debit Notes

what is difference between debit and credit in accounting?

i m a student of accounting. We have to decide (in accounting) about different accounts that which account to be debited and which to be credited which is a difficult task. so, is there a clear difference between debit and credit?

Public Comments

1. I haven't taken accounting in a few years, but I'm pretty sure debit means money you put out and credit means money you've made.
2. Do you mean credit card and debit card? Or do you mean debit in an account and credit in a bank account? Debit in an account is a subtraction, while a credit is an addition. Debit cards are used to take money DIRECTLY from your account (referring once again to the debit). Credit cards simply give you a credit (like an allowance, but you must pay back in the end).
3. debit card is like atm card means can be used only when there is balance in the account where as credit card one can avail specified loan amount and can also be used for purchasing good from reputed shops/molls on credit
4. This is pretty basic accounting/bookkeeping. To add to an asset or expense, you debit. To subtract from an asset or expense, you credit. To add to a liability or revenue, you credit. To subtract from a liability or revenue, you debit. The hard part is deciding what type the account is.