Single-Entry Bookkeeping
Definition
A simple method that records each transaction once, much like a cash book, without the matching debit and credit of double entry. It is easy but cannot produce a full balance sheet or catch many errors.
Related Terms in Core Accounting
Narration
A short explanation attached to a journal entry describing what the transaction was for. Good narrations make the books auditable and help anyone reviewing the entry understand it later.
Voucher
A document that supports and authorises an accounting entry, such as a payment or receipt voucher. Vouchers provide the evidence trail behind the figures recorded in the books.
Cash Book
A book of original entry recording all cash and bank receipts and payments. It doubles as both a journal and a ledger account for cash, and its balance should reconcile to the bank statement.
Day Book
A book of prime entry where transactions of a particular type — sales, purchases, returns — are first listed in date order before being posted to the ledger. It keeps the ledger uncluttered.
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