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.
Accounting. 1  to close (an account) by crediting or paying all outstanding charges: He plans to cancel his account at the department store. 2  to eliminate or offset (a debit, credit, etc.) with an entry for an equal amount on the opposite side of a ledger, as when a payment is received on a debt.