- Home
- Bankruptcy and Bankruptcy Code
- Business Entities
- Departmental Operations
- Credit Practices
- Collection Practices
- Financial Analysis
- Financing Methods
- International Credit
- Laws and Regulations
- Payment Methods
- Performance Measures
- Security Instruments
- Career Management, and Job Change
- Credit Website Tools
- Upcoming Educational Events
- Credit and Collections Tools and Tips
- Tips on Creating Better Emails
- Generating Effective Credit Correspondence
- Exporting
- Accounting
- Chart of Accounts
- General Ledger
- Accounting Entry
- Double Entry Bookkeeping - An Introduction
- The Matching Principle
- Accrual Basis of Accounting
- Outside Auditors
- Cost Accounting
- Goodwill
- Liquid Assets
- Retained Earnings
- Treasury Stock
- Accounting Equations
- Accounts Receivable Turnover
- Adverse Opinion
- Accounts Payable
- Auditor
- Cash Basis of Accounting
- Cash Equivalents
- Extraordinary Items
- Revenue Recognition
- Accounts Receivable
- Assets
- Balance Sheet
- Cash Flow
- Income Statement
- Cost of Goods Sold
- Financial Ratios
- Financial Statements
- Net Sales
Double Entry Bookkeeping - An Introduction
Double entry accounting is a record keeping system in which every transaction is recorded in at least two accounts. There are two columns in each account, with debits on the left and credit entries posted on the right. In double entry accounting, the total of all debit entries must match the total of all credit entries. When this happens, the system is considered to be in balance. However, if the totals do not agree, the books are out of balance and the posting error must be found and corrected before the information is useful and useable.
© 2011 by Michael C. Dennis. All Rights Reserved