Double Entry

• Author: Jeffrey Lehman, Shirelle Phelps

Page 1

A bookkeeping system that lists each transaction twice in the ledger.

Double-entry bookkeeping is a method whereby every transaction is shown as both a debit and a credit. This is done through the use of horizontal rows and vertical columns of numbers. The reason for the use of this bookkeeping method is that if the total of horizontal rows and vertical columns is not the same, it is easier to find...