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Answer Posted / akshitha
There are two main systems for keeping the accounts of
small businesses. These are single entry book-keeping and
double-entry book-keeping. Their names really explain
themselves. In double-entry book-keeping, for every entry
recorded, it is in fact recorded twice, whereas in single
entry book-keeping, it is just recorded once. For very
small businesses, the single entry system is often
preferred, but I personally prefer the double entry book-
keeping system, because when mistakes happen (and they
always will!) they are much easier to find. This system can
also deal with unpaid bills and accounts. Therefore the
rest of this article will concentrate on double entry book-
keeping.
There is much more that can be learnt about this subject -
and if there is enough interest, further articles may be
possible. However, I trust that this article will help you
as you seek to serve the Lord in whatever work you are
involved with.
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