Single-entry accounting is like keeping a cash book. Entries generally include a date, description, amount and remaining balance. Let’s say you paid rent and received a loan from the bank in ...

Single-Entry Bookkeeping ~5000BC to ~1400BC. Early bookkeeping methods were rudimentary, relying on a simple record of transactions in a single account. Merchants in ancient Mesopotamia, for example, ...

For example, if a business owner purchases $1,000 worth of inventory with cash, the single-entry system records a $1,000 reduction in cash, with the total ending balance below it.