---
title: "Double-entry bookkeeping"
url: https://prosperousboomer.com/
description: "A plain-language glossary of money and tax: what taxes are for, how they changed over time, bookkeeping basics, tax years and filing cycles, and how to read a set of."
---

# Double-entry bookkeeping

TERM OF THE DAY · BOOKKEEPING

Double-entry bookkeeping is the practice of recording every transaction twice: once as the thing that changed, and once as the source of the change. Because the two entries are equal and opposite, the totals of a complete set of books must agree, and a disagreement is evidence that something has been missed or mistyped.

[Read the full entry for double-entry bookkeeping](https://prosperousboomer.com/terms/double-entry-bookkeeping/)

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