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Single Entry Or Double Entry which one is best accounting practice ?

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تم إضافة السؤال من قبل Falak Sher Khan Khan , Accountant , Star Marketing (Pvt) Ltd
تاريخ النشر: 2015/02/28
مستخدم محذوف‎
من قبل مستخدم محذوف‎

Double Entry accounting practice best

FITAH MOHAMED
من قبل FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

.>>>>>>>>>>Double Entry<<<<<<

Naveed Abbas Rana
من قبل Naveed Abbas Rana , Accountant/ Consultant , Aboriginal Peoples Television Network

              Double Entry accounting system.  Single entry is only a conventional system the drawbacks/demerits of which lead to the development of Double Entry System.

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Definitely double entry system, as it tracks the implications of transactions,

 

A simple example would be the "Gratuity GL" in a simple restaurant business.

 

Meals are mostly paid for by credit card, therefore the transaction must be split between revenue and gratuity, otherwise revenue is overstated, taxes are overstated, and Tips (Gratuity) not tracked. The Gratuity account needs to be zero out when waitrons are paid their Tips.  

 

In effect the double entry system becomes an internal control.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Indian Multinational Banking and Financial services company: State Bank of India having approximately18,000 branches of which200 approx overseas offices.

The above information is given just to remind the complexity of accounting functions--With the double entry system only we can compile large financial data and allow financial operations in every fraction of seconds.

Single entry is only a conventional system the drawbacks/demerits of which lead to the development of Double Entry System.

Abd ElRahman Mohammed Idris Mohammed
من قبل Abd ElRahman Mohammed Idris Mohammed , Internal Audit Manager , Kenana Sugar Company Limited

Double Entry is the best accounting practice.

Talitha varghese
من قبل Talitha varghese , credit controller cumAccountant , Gallo images

DOUBLE ENTRY BOOK KEEPING SYSTEM IS THE BEST

Alex Al Yazouri
من قبل Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

Definitely Double Entry...................

AWAIS GHANI ACA
من قبل AWAIS GHANI ACA , Group Accountant- Senior Analyst Finance - HQ , VEON

Double Entry is the best ONE

Ahmed kandil
من قبل Ahmed kandil , Cost Controller , Battour Holding Cpompany

Double entry is the best way to implement .....

Jawwad Qureshi
من قبل Jawwad Qureshi , SENIOR FINANCE OFFICER , DAWLANCE GROUP

Double entry as its makes Financials up to date.

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