Single Entry System

                                     Single Entry System

From the very name of the system it aparently seems that a system in which only one aspect of a transaction is  recorded , is called single entry system.But in fact it is not so. This system does not observe any systematic rule. Under this system, some transactions are recorded on both sides like Double Entry System, some are recorded on one side only, while some other are not recorded at all. According to Arthur Fieldhouse, "Single Entry is faulty, incomplete, inaccurate, unscientific and un systematic style of  account-Keeping".

Single Entry is a misnomer. So it is very difficult to give a propper definition of the system:

               "Single Entry is that which is not a Double Entry ".

                   "A system is nothing but a mixture of Double

                            Entry, Single Entry and No Entry".

• For some transactions both the ascepts are recorded, while for some other only one ascept is concidered. Again , some transactions are not recorded at all. Thus, complete analysis of a transaction is not always possible.
• Only cash a/c and Personal Accounts are maintained.
• Mistakes and defalcations cannot be detected easily.
• There is no rules here as such.