An asset account debit or credit is a part of the double-entry bookkeeping system. It’s used to record and track all financial transactions taking place across an organization, providing transparency and accountability. In essence, when a transaction results in an increase in an asset, it is recorded as a debit on an asset account. Likewise, when a transaction leads to a decrease in an asset, it is recorded as a credit on an asset account. Ultimately, this allows businesses to keep accurate records of all their assets, liabilities and net worth – which can be extremely helpful when making decisions and planning for the future.