Double Entry Bookkeeping
Double Entry Bookkeeping provides a wide variety of tutorials, examples, references, and no-nonsense advice on bookkeeping and accounting. It aims to answer all those questions you’ve always wanted to ask …and some you didn’t know you needed to.
At double entry bookkeeping.com you will learn how to understand and use your accounting records to manage your business. We offer free tutorials in all aspects of bookkeeping and accounting.
Double Entry Bookkeeping Tutorials
Select a category from the menu to the left or chose one of the Tutorials below.
- Direct Labor Variance Journal
- Cost of Goods Sold Basics
- Future Value of a Lump Sum
- Lower of Cost or Market
- Retained Earnings Statement
Double Entry Bookkeeping Examples
The best way to learn is to look at examples. At double entry bookkeeping.com you can look at examples of how you can apply the principles and concepts discussed in the Tutorials in practice.
Select a category from the menu to the left or chose one of the Examples below.
- Paid Cash for Supplies
- Non-Cash Capital Introduction
- Dividends Declared Journal Entry
- Inventory Write Off
- Fixed Asset Purchases With Note Payable
Double Entry Bookkeeping References
At double entry bookkeeping.com you will find references for all our topics. The references are usually in the form of tables and serve as quick guides or cheat sheets for each bookkeeping and accounting topic.
- Chart of Accounts Example
- Excel PMT Function
- Excel SYD Function
- Continuous Compound Interest Formula
- Excel IRR Function
Double Entry Bookkeeping Quizzes
Test your knowledge of debits and credits. At double entry bookkeeping.com you will find a selection of accounting quizzes.
- Quiz 1: Bookkeeping Basics
- Quiz 2: Accounting Equation
- Quiz 3: Debits and Credits
- Quiz 4: Debits and Credits
- Quiz 5: Accounting Principles
At double entry bookkeeping.com you will find an A to Z guide to the world of bookkeeping and accounting.
Popular Glossary Terms
You can find free double entry accounting templates, accounting forms, bookkeeping templates and bookkeeping forms.
Popular Accounting Templates
- Bank Reconciliation Template
- Journal Voucher Template
- Petty Cash Voucher Template
- Expense Claim Form Template
- Fixed Asset Register Template
Double Entry Bookkeeping Accounting Ratios
You will find information on what are considered to be the most important accounting ratios used in managing a business.
Popular Accounting Ratios
- Working Capital Turnover Ratio
- Overhead Ratio
- Return on Equity – ROE
- Asset Turnover Ratio
- Days Sales Outstanding
Why Do We Need Double Entry Bookkeeping
When you set out to start a business as an entrepreneur you need to be in control of your finances and be able to monitor closely the overall performance of the business. The only way to achieve this is to have good accounting information and be able to understand what the information is telling you.
Bookkeeping is the process of recording all your business transactions to produce a set of accounting records, it is the start of the accounting process which allows you to produce useful accounting information such as details of your sales, expenses, working capital etc.
A Bit Of History On Double Entry Accounting
Double entry accounting is a system of bookkeeping which records each transaction twice and originated from a 15th Century monk Luca Pacioli. The first entry records what comes into the business (a debit) and the second entry what goes out of the business (a credit). Every Debit must have a corresponding equal and opposite Credit.
All small businesses are under pressure from all sides and only well managed businesses will survive. We started the website with one clear objective in mind to offer users a wide variety of tutorials, examples, references, and no-nonsense advice on bookkeeping and accounting.
We aim to give you the information you need to help you understand and use your accounting records to manage your business. We make double entry bookkeeping and accounting more usable, easier to navigate, faster and more reliable. In other words: we make your double entry bookkeeping records work.
Whilst there are many places that you can learn double entry accounting and bookkeeping, they tend to provide you with a confusing array of information. The first requirement for any business is to know what you’re doing, and what you’re aiming for. The only way to do that is to have good double entry bookkeeping records to provide quality accounting information and to be able to understand what that information means for your business.