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 ?
CBS's Dan Rather offered a two-line news-read drily announcing the plan and then led into the day's White House report: a feature detailing how Clinton had cunningly evaded his pledge to cut the White House staff by 25 percent through a bookeeping maneuver.
The services of a physician or therapist tended to be provided by a consultant agreement, but inkind staffing was usually for fiscal manager or bookeeping services.