Should you use Single or Double Entry

 Bookkeeping?

Single-Entry bookkeeping is much like keeping your check register. You record transactions as you pay bills and make deposits into your company account. This works onlhttp://www.firststepfirst.co.iny if yours is a small company with a low volume of transactions.

If your company is of any size and complexity, you will want to set up a double-entry bookkeeping system. Two entries, at least, are made for each transaction. A debit is made to one account and a credit is made to another accounting. That is the key to double-entry accounting.

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