A debit refers to entries in the debit column of a ledger account that increase assets or expenses or decrease liabilities orincome. In the double-entry bookkeeping system, each debit entry must have a corresponding credit entry to maintain balanced accounts.

Example: A manufacturing company purchases new machinery worth £5,000, increasing the machinery asset account. This transaction is recorded as a debit entry in the machinery account. Simultaneously, a credit entry is made in the cash account to reflect the payment.