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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.
1 Double Entry Accounting (2008) â How Quickbooks accounts for transactions you enter in to the accounting syatem. 2  Accrual vs. Cash Basis Accounting (2008) â How Cash Basis and Accrual Basis of Accounting differ and affect your reports.