Master the double-entry accounting system with this fascinating free online course that instructs you on how it operates, its advantages and how it can increase a company’s profitability. You will learn how this method provides you with more comprehensive data about a transaction compared to the single-entry technique. Nowadays, the majority of modern accounting system structures are based on double-entry accounting and at least two records are altered after all transactions. Generally, you won’t be able to save entries in your system except if the transaction balances.

This course will advise you on how the double-entry method helps accountants in reducing errors. The accounting period differs for different business levels. You use the double-entry system to meet the source of the accounting equation, which states that the assets are identical to liabilities and owner’s equity. There are multiple accounts used to write entries through the use of the double-entry system. You will explore all these significant accounts and where you record all these transactions as you work through this course. A double-entry system also serves to disclose information about the fiscal situation of a company, essential when making critical decisions regarding the future of a business.

The double-entry accounting system has proven to be the most effective method of recording transactions. With this practice, a company can control the business operations and examine the comprehensive information available. The system is a dependable method of accounting as every phase of the transaction gets included. The record of both clients and merchants is done for each transaction. Are you interested in accounting or becoming a business owner? If so, this course is invaluable. Why are you waiting? Start this course today and learn how to become an expert in no time!