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Double-entry accounting in a sentence

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Sentence count:7Posted:2017-12-01Updated:2020-07-24
Similar words: double entrypublic accountinggenerally accepted accounting principlesaccountingincome summary accountaccounting costaccounting cycleaccounting period
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1 Using the double-entry accounting system, the sum of the debits must always equal the sum of the credits.
2 Before proceeding to the mechanics of the double-entry ac-counting system, we must examine one very important accounting concept.
3 In double-entry accounting, increases in assets are recorded on the debIt'side of assets accounts.
4 Double-entry accounting means that the amounts of debit AND credit entries must be equal when accounts record every business transactions.
5 Nowadays , the double-entry accounting is almost used in the world widely.
6 Useful features found in GnuCash include double-entry accounting, schedule recurring transactions and support for Quicken files (OFX/QFX) import/export.
7 "debits" and "credits" are words that have been tracked back five hundred years to a document describing today's double-entry accounting system.
More similar words: double entrypublic accountinggenerally accepted accounting principlesaccountingincome summary accountaccounting costaccounting cycleaccounting periodaccounting systemdouble entendreaccounting recordsaccounting standardaccounting equationfinancial accountingnational income accountingaccount receivablecomputerized accounting systemcontrolling accountaccountableunaccountableaccount payableaccounts payablecurrent accountsavings accountaccount statementaccounts receivablechecking accountcountingstatement of accountuncollectible accounts
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