Double book keeping en

Double-entry accounting is a system that requires two book entries — one debit and one credit — for every transaction within a business. Your books are balanced when the sum of each debit and its corresponding credit equals zero. Contrary to single-entry accounting, which tracks only revenue and expenses, double-entry accounting tracks assets, liabilities and equity, too.

The system might sound like double the work, but it paints a more complete picture of how money is moving through your business. And nowadays, accounting software manages a large portion of the process behind the scenes.