Double-entry accounting is a system of recording transactions in two parts, debits and credits. Learn how to apply it here.

One of the merits of the double-entry system is that any transaction has two equal and opposite effects on business finances. For example, let's say that a company buys a machine to manufacture a ...

Double-entry accounting is a bookkeeping method that records two entries (one debit and one credit) for each business transaction.

General Ledger Purchase Example. The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ...

Kellman re-engineered the traditional double-entry accounting model, building on the system's legacy first introduced in 1494 by Fr. Luca Pacioli.