Bookkeeping

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Bookkeeping

The process of systematically and methodically recording the financial accounts and transactions of an entity.

Double-entry bookkeeping is an accounting system that requires that for every financial transaction there must be a debit and a credit. When merchandise is sold for cost, there is a debit to cash and a credit to sales.

See: accounting, computation, registration
References in periodicals archive ?
Those healthy balance books and mid-table sustainability (or the top eight if you are lucky), seem to be the height of United's ambition.
He said that money cannot be used to pay for teacher salaries, amid fears that schools will have to lay off staff to balance books.
In Bradford, the council says cuts of pounds 31million are needed to balance books - about 600 job losses are expected.
Let's get rid of Coun Whitby and the Lib Dems before thousands more lose their jobs under a council that can't add up or balance books.
When the government pumped tens of billions of pounds into the banking system earlier this year there was an expectation that once their balance books had been firmed up, they would pass on this largesse to the consumer.
Managers of all departments are taking action to balance books.
That is patently being ignored by those LEAs in their rush to balance books.
Gordon tells us the economy is sound but his pre-Budget statement revealed he's to borrow pounds 10bn more than expected to balance books.
We require our receptionist to look after a busy till and be able to balance books at the end of the night.
Despite 70 per cent of hospitals, primary care trusts and other services scoring extremely well where the balance books are concerned, the actual quality patients receive on the wards is a very different story.
Newry last week effectively placed their entire playing staff on the transfer list in a bid to balance books.