This system of accounting is named the double-entry system because every transaction has two aspects, both of which are recorded. This single-entry bookkeeping is a simple way of showing the flow of one account. To illustrate how single-entry accounting works, say you pay $1,500 to attend a conference. It is recommended to use an accountant   Read More …

This is posted to the Service Revenue T-account on the credit side. This is posted to the Equipment T-account on the debit side. This http://msp-highway.com/fr/faq/?print=y&url=%2Ffr%2Ffaq%2F is posted to the Accounts Payable T-account on the credit side. This is posted to the Cash T-account on the debit side (left side). Why Can’t Single Entry Systems Use   Read More …