double-entry bookkeeping

double-entry bookkeeping definition - business

double-entry bookkeeping

In accounting, recording at least two offsetting entries, including at least one debit and one credit, for every transaction. Double-entry bookkeeping results in a balanced ledger of debits and credits.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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