Double-entry bookkeeping is a system of recording financial transactions where each transaction is entered twice, once as a debit and once as a credit, ensuring accurate and balanced financial records.
Double-entry bookkeeping is an accounting method where every financial transaction is recorded in at least two accounts, ensuring that debits equal credits, providing accurate and reliable financial information for small business owners to track and analyze their company's financial activities, assess profitability, and comply with tax regulations.