debit balance Meaning in the Cambridge English Dictionary

Meaning of “debit balance” in the English Dictionary

"debit balance" in Business English

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debit balancenoun [C]

uk   us  
BANKING, FINANCE an ​amount of ​money in a ​bankaccount, etc. which is less than zero because more ​money was taken out of it than the ​totalamount that was ​paid into it: Customers should consider ​transferring the ​debitbalance to a ​creditcard with a ​specialrate for ​debttransfers.
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 ​caseincome will be ​accrued at the ​year end to ​offset the ​debit.
(Definition of debit balance from the Cambridge Business English Dictionary © Cambridge University Press)
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“debit balance” in Business English

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