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.
- Economic Entity Assumption
- Liquidation of a Partnership
- Subsidiary Ledgers in Accounting
- How to Calculate a Mortgage Payment
- Closing Journal Entries
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.
- Bad Debt Recovery – Allowance Method
- Buy Equipment with Down Payment in Cash
- Accrued Expenses Example
- Loan Repayment – Principal and Interest
- Consumable Supplies Expense Recorded
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.
- Factoring Accounts Receivable Journal Entries
- Write Down of Inventory Journal Entries
- Future Value Annuity Due Tables
- Excel EFFECT Function
- Excel PV 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
- Quiz 2: Accounting Equation Quiz
- Quiz 3: Debits and Credits Quiz
- Quiz 4: Debits and Credits Test
- Quiz 5: Basic Accounting Principles Quiz
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
- Accounting Ratio Calculator
At double entry bookkeeping.com you will find an A to Z guide to the world of bookkeeping and accounting.
Popular Glossary Terms
Double Entry Accounting Ratios
You will find information on what are the most important accounting ratios used in managing a business.
Popular Accounting Ratios
- Debtor Days Ratio
- Operating Leverage Ratio Analysis
- Working Capital Turnover Ratio
- Inventory Days
- Cash Flow Ratios Calculator
What is 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 track the 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 the Double Entry Accounting System
Double entry bookkeeping is a system of bookkeeping which records each transaction twice. The system was first developed in the 13th century and used by Italian merchants. In 1494 Luca Pacioli a monk and mathematician was the first to publish a treatise which included details of double entry bookkeeping. Pacioli recommended the Venetian method which included three books of account, the memorandum, the journal, and the ledger. The treatise was widely available and accessible and formed the basis of double entry bookkeeping practiced today.
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 businesses are under pressure from all sides and only well managed businesses will survive. We started the website with one clear goal in mind to offer users a wide variety of tutorials, examples, references, and no-nonsense advice on small business 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 system 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 rule 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 accounting system records to provide quality accounting information and to be able to understand what that information means for your business.