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double-entry bookkeeping

   Also found in: Legal, Financial, Wikipedia 0.01 sec.
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Noun1.double-entry bookkeeping - bookkeeper debits the transaction to one account and credits it to another
bookkeeping, clerking - the activity of recording business transactions


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Furthermore, he practices double-entry bookkeeping in that every loan he makes is faithfully recorded as an asset on his balance sheet.
Despite this, the scorecard needs to clock up a few more years of popularity before it can be mentioned in the same breath as the profession's most enduring innovation: double-entry bookkeeping.
Among Luca Pacioli's many achievements was to have been the first writer to codify double-entry bookkeeping.
 
 
 
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