What is single entry system of Book-keeping?

This system ignores the two fold aspect of each transaction as considered in double entry system. Under single entry system, merely personal aspects of transaction i.e. personal accounts are recorded. This method takes no note of the impersonal aspects of the transaction other than cash. It offers no check on the accuracy of the posting and no safeguard against fraud because it does not provide any check over the recording of cash transaction. Therefore, it is called as “Imperfect accounting”.

Hayward PVC Ball Valve Single Entry 3 4

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According to Kohler: “Single entry system is a system which records each transactions and transactions relating to personal accounts.”

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