What Are The Kinds Of Bookkeeping?
I need it for my accounting subject in school. I can't find it in my book and encyclopedias so I thought that you could help me.
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asked 3 years ago
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The two best known forms are "single entry" and "double entry". Single entry is where you just keep track of things like how much you sold today and how much you spent. Double entry requires that you enter a balanced set of entries for each transaction. Example: Recording the sale of an item for $10 might mean a $10 debit to "cash on hand" with a $8 credit to inventory and a $2 debit to a profit account.
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