Double-entry accounting is a bookkeeping system that requires two entries — one debit and one credit — for every transaction. Your books are balanced when debits and credits zero each other out.

Double-entry accounting is a system of recording transactions in two parts, debits and credits. This method of recording business transactions allows users to avoid errors and omissions.

Discover the key differences between debits vs credits in accounting — debits increase assets, while credits boost liabilities and equity. ... Tips for making debit and credit entries.