double entry bookkeeping
noun [ U ]
ACCOUNTING ukus(also double entry accounting)the most commonly used system of recording financial information, in which each amount spent or received is recorded twice. For example, an amount a company spends to buy supplies is recorded as a debit to the company in one account and as a credit to the seller of the supplies in another account:
Double entry bookkeeping, where each debit has a corresponding credit entry, will be used, which provides an arithmetic check of the books.