MLchartDataset catalogue

Debiting

Term · Law · MLC-T-LAW-001484

The act of removing funds from an account, typically a bank account, to settle a financial obligation or record a decrease in assets. This process reduces the account balance and is recorded on the left side of a ledger in accounting. Debiting occurs with transactions such as purchases made with a debit card or automatic bill payments.

Table 1. Record
IdentifierMLC-T-LAW-001484
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001484",
  "term": "Debiting",
  "field": "Law",
  "definition": "The act of removing funds from an account, typically a bank account, to settle a financial obligation or record a decrease in assets. This process reduces the account balance and is recorded on the left side of a ledger in accounting. Debiting occurs with transactions such as purchases made with a debit card or automatic bill payments.",
  "url": "https://mlchart.com/terminology/law/debiting/"
}

Record 1,347 of 5,445 in Law terminology (MLC-0107). Request the full dataset.