Debits and Credits are two of the most fundamental concepts in accounting. The term “debit” refers to when money is taken out of a bank account, while “credit” means money is put into an account. In business, they are important because they help track transactions and show a company’s financial health over time. A Debit Bank Account is a type of bank account that allows a business to make transactions with its own funds rather than using someone else’s. This can be used to use credit cards or purchase items online, since it does not involve loan terms or interest rates. Credit Bank Accounts are also available for businesses, where money can be deposited instead of withdrawn. This option gives them more flexibility in their spending, as well as higher interest rates, but comes with more risks. No matter which type of account you choose, understanding how debits and credits work is essential for any successful business.