single-entry accounting

single-entry accounting
A system of tracking business income and expenses that requires each item of income or expense to be recorded just once. Compare: double-entry accounting
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.

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  • Single-entry bookkeeping system — also known as Single entry accounting system is a one sided accounting entry to maintain financial information.OverviewMost businesses maintain a record of all transactions based on the double entry bookkeeping system. However, many small, simple …   Wikipedia

  • single-entry bookkeeping — UK US noun [U] ACCOUNTING ► a simple system of recording the money spent or received by a small business or organization in one account: »A checkbook is a single entry bookkeeping system where one entry is made for each deposit or check written.… …   Financial and business terms

  • single entry — single entry, adj. Bookkeeping. 1. an item noted only once. 2. a simple accounting system noting only amounts owed by and due to a business. Cf. double entry. [1820 30] * * * …   Universalium

  • double-entry accounting — A system of accounting that records each business transaction twice (once as a debit and once as a credit). For example, if you pay your monthly rent of $1,000, you you make a debit of $1,000 to the rent expense account and a credit of $1,000 to… …   Law dictionary

  • single entry — noun a simple bookkeeping system; transactions are entered in only one account • Syn: ↑single entry bookkeeping • Hypernyms: ↑bookkeeping, ↑clerking * * * noun : a method or system of bookkeeping that recognizes only one side of a business… …   Useful english dictionary

  • single entry — sin′gle en′try n. bus a simple accounting system noting only amounts owed by and due to a business Compare double entry • Etymology: 1820–30 …   From formal English to slang

  • single entry — /sɪŋgəl ˈɛntri/ (say singguhl entree) noun a simple accounting system in which each transaction is noted by only one entry …  

  • single-entry — one sided recording (Accounting) …   English contemporary dictionary

  • Accounting software — is application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It functions as an accounting information system. It may be developed… …   Wikipedia

  • entry — A declaration and request for customs release in respect of imports or goods intended for export. It is usually made on a Single Administrative Document ( SAD). Traders approved to do so can submit entries electronically. HM Customs & Revenue… …   Financial and business terms

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