Single-Entry Bookkeeping

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Definition: Single-Entry Bookkeeping

Single-Entry Bookkeeping
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Full Definition of Single-Entry Bookkeeping

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.

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https://payrollheaven.com/define/single-entry-bookkeeping/
Modern Language Association (MLA):
Single-Entry Bookkeeping. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 24, 2024 https://payrollheaven.com/define/single-entry-bookkeeping/.
Chicago Manual of Style (CMS):
Single-Entry Bookkeeping. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/single-entry-bookkeeping/ (accessed: April 24, 2024).
American Psychological Association (APA):
Single-Entry Bookkeeping. PayrollHeaven.com. Retrieved April 24, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/single-entry-bookkeeping/

Definition Sources

Definitions for Single-Entry Bookkeeping are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 11th August, 2022 | 0 Views.