| | InvestHub.com's
Finance Dictionary and Glossary of Investment Terms
single-entry bookkeeping
Definition 1.
An accounting method in which transactions are recorded as a single entry, rather than as both a debit and a credit as in double-entry bookkeeping. When using single entry bookkeeping, taxable income is just the difference between cash expenses and cash receipts over the relevant time period. Single entry accounting tends to be suitable only for small companies with simple financial statements.
|
|
|