What does double-entry bookkeeping mean?
Definitions for double-entry bookkeeping
dou·ble-en·try book·keep·ing
This dictionary definitions page includes all the possible meanings, example usage and translations of the word double-entry bookkeeping.
Princeton's WordNet
double entry, double-entry bookkeepingnoun
bookkeeper debits the transaction to one account and credits it to another
ChatGPT
double-entry bookkeeping
Double-entry bookkeeping is a method of accounting in which each financial transaction is recorded in two separate accounts (usually once as a debit and once as a credit) to maintain a balance in the financial records. This system ensures that the equation assets = liabilities + equity remains in balance, providing a more detailed and accurate view of a company's financial state. It also allows for easier detection and correction of errors.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of double-entry bookkeeping in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of double-entry bookkeeping in Pythagorean Numerology is: 8
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"double-entry bookkeeping." Definitions.net. STANDS4 LLC, 2024. Web. 24 Apr. 2024. <https://www.definitions.net/definition/double-entry+bookkeeping>.
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