In double-entry bookkeeping, every time you spend or receive money, you have to record it twice. For example, if you spend $5,000 cash to buy more inventory, you'd record that $5,000 in both the Cash ...

In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

The method business accountants use to record transactions of business activity into the general ledger requires that each transaction posted involves at least one debit and one credit. In standard ...