single entry bookkeeping
[ˈsɪŋɡəl ˈɛntri ˈbʊkkiːpɪŋ]
noun
contabilidade de entrada única
1. A simplified bookkeeping system that records only one side of a financial transaction, typically used by small businesses and individuals to track income and expenses
The small grocery store used single entry bookkeeping to keep track of daily sales and expenses without complex accounting systems.
A pequena mercearia usava contabilidade de entrada única para acompanhar as vendas diárias e despesas sem sistemas contábeis complexos.
2. A method of record-keeping where transactions are entered once, usually in a cash book or expense log, without the use of debit and credit accounts
Single entry bookkeeping is less formal than double entry bookkeeping and requires less accounting expertise.
A contabilidade de entrada única é menos formal que a contabilidade de partidas dobradas e requer menos conhecimento contábil.
Single entry bookkeeping is particularly common among microenterprises and informal businesses in Brazil, where many small business owners use simplified accounting methods. In contrast, double entry bookkeeping is mandated for larger businesses and corporations. The Brazilian government recognizes single entry systems for certain categories of small business taxpayers (MEI - Microempreendedor Individual), making this method culturally and legally significant in the Brazilian business context.
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