Question

what is meantt by single account system​

Answer 1

Single-entry accounting is a form of bookkeeping and accounting in which each financial transaction is a single entry in a journal or transaction log. As a result, the accounting system is called, not surprisingly, a single-entry system. And, the approach is also known as single-entry bookkeeping.

Answer 2

Single-entry accounting is a form of bookkeeping and accounting in which each financial transaction is a single entry in a journal or transaction log. As a result, the accounting system is called, not surprisingly, a single-entry system.