A DBA can be highly beneficial for business marketing, but setting up bank accounts in the name of a DBA rather than in the legal name of the individual or entity that owns the business can be complex and require documentation proving that you have a right to use the business name.
Most businesses use double entry accounting, a system in which every financial event causes two transactions, a debit in one account and an equal offsetting credit in another account. When a company establishes an accounting system, it must choose to use either a single entry system or a double entry system.
Princeton's WordNet(1.00 / 1 vote)Rate this definition: 1  accounting(noun) a convincing explanation that reveals basic causes. 2  accounting(noun) a system that provides quantitative information about finances. 3  accountancy, accounting(noun) the occupation of maintaining and auditing records and preparing financial reports for a business.