Single-entry bookkeeping
In accounting, single-entry bookkeeping means recording each transaction once, as a line in a running list — usually of cash — with no second side to check it against. It says what happened to cash, not what happened to the business, and an error in it does not show.
Not a rule. Bookkeeping convention — not codified. US GAAP governs recognition, measurement and presentation, not bookkeeping mechanics. Sources
The lesson that teaches this
From the free founder back-office course, taught on one company's books, with exercises to work it yourself.
What it is not called
Each of these means something else. Use one here and an accountant reading the product notices.
- simple bookkeeping
- cash book for a double-entry ledger
Nearby in the catalog
No component names this concept outright. These sit in the same part of the system.
Also in Foundations
Defined in Lexicon. This page is generated from that document, so the two can't disagree.