Double-Entry Bookkeeping Definition
Double-entry bookkeeping is an accounting method where a transaction is recorded using at least one debit and one credit in the same amount to balance.
Double-Entry Bookkeeping Expanded Definition
Using the double-entry bookkeeping method of recording transactions, a business would record a debit (dr) and an equal credit (cr) so that the business records balance.
This is the most commonly used method of accounting for business transactions. The double-entry bookkeeping system can generate useful financial reports for business owners.
Intro to Double-entry Accounting: Your Pain-free Guide
Last Updated By
Christan Neff | Apr 17, 2023