Meaning of “debit balance” in the English Dictionary

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"debit balance" in Business English

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debit balancenoun [ C ]

uk us

BANKING, FINANCE an amount of money in a bank account, etc. which is less than zero because more money was taken out of it than the total amount that was paid into it:

Customers should consider transferring the debit balance to a credit card with a special rate for debt transfers.

ACCOUNTING the amount, shown in the record of a company’s finances, by which its total debits are greater than its total credits:

Debit balances may arise due to timing differences, in which case income will be accrued at the year end to offset the debit.

(Definition of “debit balance” from the Cambridge Business English Dictionary © Cambridge University Press)