Accounting glossary
What is double-entry bookkeeping?
The 500-year-old rule that every transaction records equal debits and credits. A sale is revenue AND cash-or-receivable; a purchase is inventory AND payable. The payoff: books that prove their own arithmetic, because the two sides must always agree.
Example
A $1,000 sale on credit debits accounts receivable $1,000 and credits sales $1,000. Every transaction touches at least two accounts, and the debits always equal the credits.
That symmetry is what makes a trial balance meaningful: if total debits do not equal total credits, something is missing or half-written.
In SeroBooks
SeroBooks is double-entry throughout — verified in production by a harness that penny-asserts every stage. General ledger →
Nearby terms
Stop looking terms up. Start seeing them work.
Free to start, on Windows, Mac, iPad and Android. No credit card.