difference
This query is : Resolved
dinesh khanna
(Querist)
06 July 2011
what is the difference between double entry system ond double accounting system
CA PARAS BAFNA
(Expert)
06 July 2011
Double accounting refers to the duplication of accounting work. For example in case of accounting of a branch , H O as well as Branch both maintain separate records.
In double entry System each transaction is having its effect in debit side as well as in credit side. One ledger account is being debited then against that another account is required to be credited.
In double entry System each transaction is having its effect in debit side as well as in credit side. One ledger account is being debited then against that another account is required to be credited.
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