Monday, May 24, 2010

Disadvantages of double entry system of A/C? everywer only merits of Double entry system are mentioned.?

Disadvantages:





Can be difficult to learn.


Requires multiple entries for the same transaction.


More prone to mistakes.


Finding mistakes can take longer.





Compare to single-entry or pegboard accounting systems for reference. Single-entry is faster to learn, but offers less flexibility and generally requires a smaller Chart of Accounts.





Basically, you are looking at a difference between using Quicken and Quickbooks (single-entry vs. double-entry).





Good luck!


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