Glossary

Double-entry accounting

Every transaction posts equal debits and credits to the ledger.

What it means

Double-entry accounting records every transaction twice: a debit in one account and an equal credit in another. The books always balance.

Why it matters

It's how errors show up. If debits and credits don't match, something was missed. It's the standard for business accounting and what accountants and auditors expect.

Related terms

Journal entry, general ledger, trial balance, chart of accounts.

In ProvizoDouble-entry books, posted live.See Accounting →

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