double-entry bookkeeping
1
5.1
- noun
- /ˈdʌbəlˈɛntri ˈbʊkˌkiːpɪŋ/
- Specialized
:
contabilidad por partida doble
- Many businesses rely on double-entry bookkeeping to maintain balanced financial records and prevent errors.
Examples
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Learning double-entry bookkeeping is essential for anyone pursuing a career in finance or accounting.
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Doing it on paper first required teaching him double-entry bookkeeping.
Blog text (18) -
All this can be represented in double-entry bookkeeping.
Blog text (27) -
So some of the owners of the bonds could not have been doing double-entry bookkeeping.
Blog text (23) -
Hi Tippy, the issue here is between single and double-entry bookkeeping.
Blog text (23) -
European merchants were already using modern business methods: credit, loans, checks, bills of exchange, double-entry bookkeeping, insurance of goods in transit.
Academic text (1992) -
Double-entry bookkeeping is reality, while governments live by single-entry bookkeeping.
Blog text (26) -
And that's why double-entry bookkeeping is designed to capture offsetting entries using the same accounting time period.
Blog text (27) -
In double-entry bookkeeping, every financial transaction is recorded as both a debit and a credit to ensure accuracy.
Synonyms
1
4.2
A bookkeeping system that records every transaction as a debit in one account and a credit in another
A system of recording each transaction twice, once as a debit and once as a credit to ensure accuracy
How Detailed
- Specialized
17
4.2
- Specialized
199
3.2
- Specialized
1
5.1
- Specialized
26
3.0
7
3.3
Surface Forms
Morphology
double-entry + bookkeeping
The phrase is compositionally transparent: 'double-entry' literally signals making two entries and 'bookkeeping' denotes keeping financial records, so a learner who knows those words can infer a system where transactions are recorded twice. Although somewhat technical, the components map directly to the defined practice and comparable terms exist in many languages, making the meaning accessible to a B1 learner.
Etymology
Double-entry bookkeeping comes from the simple idea that every money transaction is written twice, once as a debit on one side and once as a credit on the other, like two matching columns in a book. That double record keeps the accounts 'balanced' and makes mistakes easy to find.