Double entry means that you have one column for money going out of an account and one column for money going into an account. Thus, it very easy to keep track of cash inflow and outflow (just add up the columns). With single entry, there is more error because you mistakenly count a debit as a credit. The advantage is huge when you have to do things by hand. It also helps you track errors more quickly. Fabio
On Thu, 27 Jun 2002, Bryan Caplan wrote: > What exactly is the advantage of double-entry accounting over > single-entry accounting? > -- > Prof. Bryan Caplan > Department of Economics George Mason University > http://www.bcaplan.com [EMAIL PROTECTED] > > "He wrote a letter, but did not post it because he felt that no one > would have understood what he wanted to say, and besides it was not > necessary that anyone but himself should understand it." > Leo Tolstoy, *The Cossacks* >
