double-entry bookkeeping

Noun

Meaning

bookkeeper debits the transaction to one account and credits it to another

Alternative names

double entry bookkeeping

Synonyms

Hypernyms

Examples

Accounting methods improved, partly through the use of double-entry bookkeeping ; letters of credit also appeared, allowing easy transmission of money. Source: Internet

Double-entry system main A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts. Source: Internet

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