0 a system that a business uses to record its financial situation, where each sum of money is shown as money received in one part and money spent in the other part --
1 the most commonly used system of recording financial information, in which each amount spent or received is recorded twice. For example, an amount a company spends to buy supplies is recorded as a debit to the company in one account and as a credit to the seller of the supplies in another account: --
Double entry bookkeeping, where each debit has a corresponding credit entry, will be used, which provides an arithmetic check of the books.
Referring to double entry bookkeeping, he shows that the emission of money is an instantaneous event taking place every time a payment is carried out by banks.
Some have suggested that the development of double entry bookkeeping would provide a powerful argument in favor of the legitimacy and integrity of usury but this is an obvious "non-sequitur".
Instead, relational databases take their place, but still typically enforce the double entry bookkeeping system and methodology.
I have been a local authority member for only 30 years, and in my view, ordinary central budgeting is like simple double entry bookkeeping compared with the rate support grant.
