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Double Entry Accounting Defined. True to its name, double-entry accounting is a standard accounting method that involves recording each transaction in at least two accounts, resulting in a debit to one or more accounts and a credit to one or more accounts.
You will always use both a debit and a credit for every journal entry. That is what the system of double-entry bookkeeping is based on. You have two columns in your journal entry. Each will have an equal entry â one for a debit, one for a credit.