Debit Ticket

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.

BREAKING DOWN '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. How do you calculate credits and debits in the general ledger?

    Know the key points when balancing a ledger and why it's essential to understand the relationship between credits and debits ... Read Answer >>
  2. What are some examples of debit notes in business-to-business transactions?

    Review some examples of debit notes in business-to-business transactions and learn why debit notes would be used instead ... Read Answer >>
  3. What happens when my bank account is debited?

    Understand the process that takes place when your account is debited. A debit to your account happens when you use funds ... Read Answer >>
  4. Who uses debit notes in business transactions?

    Read about the types of parties that are most likely to issue or receive a debit note in the normal course of business-to-business ... Read Answer >>
  5. What is the difference between a Debit Order and a Standard Order in a bank reconciliation?

    Understand the main differences between debit orders and standard orders a company may utilize and the factors in doing bank ... Read Answer >>
  6. 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 Answer >>
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