What is Single Entry System
Under Single Entry System or Si ngle Entry Bookkeeping , there is no proper maintenance of Books of Accounts . Only one aspect of Business Transactions is recorded in the Books of Accounts of Business. Which Type of Accounts Are maintained Under Single Entry System? If Debit Side of Accounting Journal Entry is recorded, then you may not find Credit Side and hence incomplete accounting records are maintained. Sometimes, we find complete Accounting Journal Entry and Accounting record. Sometime i ncomplete records are found and sometimes complete information related to an account is missing. That is why we find only few books of accou nts which are mai ntained like for all accounts General Journal is prepared, Cash mai ntained under Cash Book , Accounts Receivable mai ntained under Accounts Receivable T Account , Accounts Payable mai ntained under Accounts Payable T Account , etc but some information is missing ...