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In Single entry system we put only either Debit or Credit column of Ledger and corresponding Credit or Debit is made to one General Ledger maintained.
In Double Entry system for every Debit in one ledger there is Corresponding Credit in another ledger.
The double entry system always takes both debit & credit sides resulting an accurately balanced sheet whereas the single entry system sometimes only debit or credit entry causing mismatch in a balance sheet.
The diffrence between single entry system and double entry system are if the double entry system transaction will effect one account transaction with another account transaction. whereas the single entry system the transaction only effect one account only which is recording acquisition is limited only in cash-in and the cash-out, so in this case in single entry system only used by the small business. and we also can't make journal,balance sheet,income statement and financial report based on the standard accounting well-known.
