What is double-entry accounting?
Double-entry accounting is the universal accounting method in which every financial transaction is recorded in at least two accounts — one debit and one credit — that must always balance. The fundamental equation Assets = Liabilities + Equity is preserved at every transaction.
Double-entry is required under GAAP, IFRS and Turkish accounting standards. Cloud accounting systems (QuickBooks, Xero, Microsoft Dynamics, Logo, ETA) implement double-entry by default, ensuring auditable books and consistent financial statements.