dual entry accounting


A method for recording transactions, in which each transaction is recorded as both a credit and a debit, in order to represent sources of financing and uses of funds, respectively. This technique produces two balanced columns, which can be used to detect errors or produce accounting statements.

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You may want to try and use a dual entry accounting method so that you can know you are getting it done right.

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Immediately upon financing, the funds had to be used, we were able to more easily record this event through the use of dual entry accounting.

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The dual entry accounting was the chosen method to handle the accounting records of the company as balancing debits and credits promotes accuracy.

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