In double-entry bookkeeping, every time you spend or receive money, you have to record it twice. For example, if you spend $5,000 cash to buy more inventory, you'd record that $5,000 in both the Cash ...

Double-Entry Accounting: What It Means and How It Works Your email has been sent Double-entry accounting is a system of recording transactions in two parts, debits and credits. This method of ...

Debits and credits are a fundamental concept in accounting, but they have different meanings when applied to balance sheet and income statement accounts. For the sake of this analysis, a credit is ...

Emily Norris is the managing editor of Traders Reserve; she has 10+ years of experience in financial publishing and editing and is an expert on business, personal finance, and trading. Khadija Khartit ...