Bookkeeping

the art of keeping books in which pecuniary transactions are sO unremittingly and so accurately entered that one is able at any time to ascertain the exact state of his financial affairs, or of any portion of them, with clearne and expedition. It is generally divided into bookkeeping by single and bookkeeping by double entry. In the former every entry is single, i. e., is placed to the debit or ered it of a single account, while in the latter it is double, that is, it has both a debtor and creditor account. In other words, by single entry each transaction is entered only once in the ledger, and by double entry twice.