A system of recording transactions in a way that maintains the equality of the accounting equation.
Found on
http://www.encyclo.co.uk/local/22398
A system of accounting that records each business transaction twice (once as a debit and once as a credit). For example, if you pay your monthly rent of $1,000, you you make a debit of $1,000 to the rent expense account and a credit of $1,000 to cash. Used for tracking inventory, loans, assets, and liabilities. Compare: single-entry accounting
Found on
http://www.nolo.com/dictionary/double-entry-accounting-term.html
Double entry accounting is a system of recording business transactions where each transaction affects at least two accounts and requires an equal debit and credit. This system was created in the 13th century as a way to double check the accuracy of recorded numbers.
Found on
https://www.myaccountingcourse.com/accounting-dictionary/accounting-diction
No exact match found.
