Question

Suggestion of single entry system book keeping

Answer 1

The single entry system of record keeping does not include equal debit and credit to the balance sheet and income statement accounts. A single-entry accounting system is not self-balancing. ... A single-entry systemmay consist only of transactions posted in a notebook, daybook, or journal.

Answer 2

Single entry accounting is a simple form of book Keeping and accounting in which each financial transaction is asingle entry in a journal or transaction log..
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