single-entry accounting

Definition of "single-entry accounting"
  1. A method of recording financial transactions where every item of income or expense is noted only once
How to use "single-entry accounting" in a sentence
  1. Small businesses tend to prefer single-entry accounting due to its simplicity.
  2. Due to its simpleness, in single-entry accounting, each monetary entry is logged once.
  3. Because she had a small home business, the woman decided to implement single-entry accounting.
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