In accounting, a debit is an entry made on the left side of a double-entry bookkeeping system that represents an increase in assets or expenses or a decrease in liabilities or equity. Debits are recorded to reflect transactions such as purchases, payments, or withdrawals that result in an outflow of resources or an increase in expenses. Debits must be accompanied by corresponding credits on the opposite side of the accounting equation to ensure that the equation remains balanced. Debits and credits form the basis of double-entry bookkeeping, allowing for accurate recording and tracking of financial transactions. Understanding debits and credits is essential for maintaining accurate financial records, preparing financial statements, and analyzing a company's financial performance.