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Financial Control Using Self Employed Single Entry Bookkeeping System
Financial Control Using Self Employed Single Entry Bookkeeping System
By: Terry Cartwright
Double entry bookkeeping is an accounting technique to record the financial transactions of a business where every transaction is entered twice, equal and opposite transactions. Double entry is required for all businesses that must produce both a profit and loss account and a balance sheet.
All limited companies are required to produce a statement of assets and liabilities and maintain a system of financial control and invariably need to adopt a system of double entry bookkeeping usually using an accounting software package.
