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What is the concept of double-entry bookkeeping?

What is the concept of double-entry bookkeeping?

Tracking customer payments twice

Generating duplicate invoices

Managing payroll 2x each quarter

Recording every transaction with equal debits and credits

Double-entry bookkeeping is a system of accounting in which every transaction is recorded in at least two accounts, with each transaction having both a debit and a credit entry. This ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced. This system helps to maintain accuracy in financial records and provides a clear audit trail for all transactions.

FROM RESPONSES ONLY!!!!!!

Recording every transaction with equal debits and credits