| The accounting industry has grown somewhat and it | | | | of the debit side (Dr) is equal to the total of the credit |
| contains some technical words but somehow these | | | | side (Cr). Generally, the account which usually attracts |
| words largely ignored by people. Sometimes some big | | | | a debit and which usually attract a credit is sometimes |
| and developed sectors like banking industry do not | | | | confusing. |
| aware of this words and âDouble Entry | | | | The simple way to understand double entry |
| Bookkeepingâ is one of them. Even some | | | | bookkeeping is to understand that every financial |
| bookkeeping and accounting experts are also not | | | | transaction has a double effect. Usually medium and |
| aware of this particular method of bookkeeping. | | | | larger businesses use a double entry system for |
| Double entry bookkeeping is a simple method by which | | | | recording business transactions. Thus, double entry |
| every transaction is recorded by entries to two or | | | | accounting develops from the fact that every |
| more accounts and according to this method the total | | | | transaction has double effects. |