Debit Ticket

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DEFINITION of 'Debit Ticket'

An accounting entry recorded as a debit that acknowledges money owed. When payment is received a corresponding credit is entered to cancel the debit.

INVESTOPEDIA EXPLAINS 'Debit Ticket'

An example is when a bank processes a check to be deposited into a customer's account. The bank treats the check as a cash item and credits the funds to the customer's account and writes a debit ticket, charged to the general ledger, while waiting to receive payment from the bank account against which the check was written.

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RELATED FAQS
  1. Why do accountants use debits and credits instead of simple pluses and minuses? Why ...

    Debits and credits, and the technique of double-entry accounting, are credited (no pun intended) to a Franciscan monk by ... Read Full Answer >>
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