Double entry bookkeeping

Accounting.

A system of bookkeeping in which every accounting transaction has two sides.

Therefore the balance sheet should always remain in balance.

The two sides of the recording of every accounting transaction are conventionally known as the Debit entry and the Credit entry.

Or sometimes the Debit and Credit legs.

See also

• Balance sheet
• Bookkeeping
• Credit
• Debit
• Double entry
• Duality principle
• Journal