Debit Credit Expense is an accounting term used to describe any payment made or money received by a business. When money is taken from or added to the business through a transaction, it is recorded as a debit or credit expense. Debits represent payments out of the business, while credits represent payments into the business. Recording such expenses helps businesses stay organised and track their financials, ensuring that there are no errors in their records. Put simply, debit credit expense is an essential part of managing any business.