What Does Single-Entry Bookkeeping Look Like: Explanation and Examples

Look at examples and explanations of single-entry bookkeeping to track your business’s finances. And find out if you should use this bookkeeping type.

You may have heard about the double-entry accounting method to keep track of a business’s finances. 

But do you know there’s another method called single-entry bookkeeping that has been commonly used since the 1400s?  

In this article, we’ll tell you in more detail about this ancient bookkeeping method with some easy-to-follow examples so that you can understand it. 

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Double-entry Bookkeeping Best Practices for Small Businesses

Find out the double-entry bookkeeping best practices that you’ve been missing out on! Pictures, examples, and more…

If you’re a small business owner setting up your bookkeeping, you must decide on your accounting system: double-entry or single-entry?

Though single-entry bookkeeping is very straightforward and easy to implement, it can’t provide a business with sufficient financial data and a secure, accurate recording system. 

That’s why double-entry bookkeeping might be more beneficial to your business, and if so, this article is written just for you. 

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What Are a Bookkeeper’s Responsibilities?

While a bookkeeper’s responsibilities can vary significantly from business to business, some duties are fundamental.

Bookkeepers are essential for any business. The core function of a bookkeeper is data collection and data input of a business’ accounting cycle.

If you’re considering hiring a bookkeeper for your small business or if you’re considering bookkeeping as a career, it’s important to understand bookkeeper responsibilities to move ahead with your goals.

Here’s a bookkeeper responsibilities list, covering the core competencies of what a bookkeeper does within the small business accounting process and why each aspect matters.

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