Double-Entry Bookkeeping

A bookkeeping system where every entry to an account requires a corresponding entry to a different account.

- Used in day-to-day bookkeeping and journal entries to record transactions correctly.
- Used when preparing trial balances and reconciling accounts.

- Example: Accountants use **Double-Entry Bookkeeping** when recording transactions and preparing the trial balance.

- Why it matters: Ensures accurate records, supports reliable reporting, and reduces posting and reconciliation errors.