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Meaning of Single Entry System

Accounts from Incomplete Records or Single Entry System is a system in which accounting records are not kept according to double entry principle of book keeping.


Unlike Double Entry System in Single Entry System, no set rules are followed - even the books of accounts to be maintained are not certain. Usually, under this system, the cash book and personal ledgers are maintained; real and nominal accounts are not. Since both the aspects of transactions are not recorded, the system is known as “Accounts from Incomplete Records” or “Single Entry System of Accounting”.

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