Double-entry Bookkeeping (Noun)
Meaning
Bookkeeper debits the transaction to one account and credits it to another.
Classification
Nouns denoting acts or actions.
Examples
- The bookkeeper used double-entry bookkeeping to record the transaction by debiting the cash account and crediting the sales account.
- Double-entry bookkeeping requires the bookkeeper to debit one account and credit another account for every transaction.
- The accountant applied the principles of double-entry bookkeeping to ensure the accuracy of the company's financial records.
- The bookkeeper's use of double-entry bookkeeping allowed her to easily identify errors in the company's accounts.
- The company's financial statements were prepared using double-entry bookkeeping, which provided a clear picture of its financial position.