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Double Entry Accounting Defined. True to its name, double-entry accounting is a standard accounting method that involves recording each transaction in at least two accounts, resulting in a debit to one or more accounts and a credit to one or more accounts.
Examples of Double Entry Accounting. As an example of how double entry accounting works, if you were going to record earnings of $500, you would need to make two entries: a debit entry of $500 to an account called Cash and a credit entry of $500 to an account called Revenue.. Another example might be the purchase of a new computer for $1,000.