double-entry bookkeeping Synonyms
No Synonyms and anytonyms found
double-entry bookkeeping Meaning
Wordnet
double-entry bookkeeping (n)
bookkeeper debits the transaction to one account and credits it to another
double-entry bookkeeping Sentence Examples
- Double-entry bookkeeping is a system of accounting that records each transaction twice, once in a debit account and once in a credit account.
- The double-entry system ensures that the total debits always equal the total credits, which helps to prevent errors.
- Double-entry bookkeeping is used by businesses of all sizes to track their financial transactions.
- The basic elements of double-entry bookkeeping include assets, liabilities, equity, revenue, and expenses.
- Assets are the resources that a business owns, such as cash, accounts receivable, and inventory.
- Liabilities are the amounts that a business owes to others, such as accounts payable and loans.
- Equity is the residual interest in the assets of a business after deducting the liabilities.
- Revenue is the income that a business earns from its operations.
- Expenses are the costs that a business incurs in order to generate revenue.
- Double-entry bookkeeping is an essential tool for businesses to track their financial performance and make informed decisions.
FAQs About the word double-entry bookkeeping
bookkeeper debits the transaction to one account and credits it to another
No synonyms found.
No antonyms found.
Double-entry bookkeeping is a system of accounting that records each transaction twice, once in a debit account and once in a credit account.
The double-entry system ensures that the total debits always equal the total credits, which helps to prevent errors.
Double-entry bookkeeping is used by businesses of all sizes to track their financial transactions.
The basic elements of double-entry bookkeeping include assets, liabilities, equity, revenue, and expenses.
