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What is triple entry system.
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Answer / krish......
triple entry system shows discount allowed and recived
discount,debit bank balance and credit bank balance and also
shows debit cash balance and credit cash balance......
| Is This Answer Correct ? | 24 Yes | 6 No |
Answer / praveenprashanthi
Momentum Accounting and Triple-Entry Bookkeeping is an
alternative accountancy system developed by Yuji Ijiri and
is the title of the 1989 monograph that he wrote.[1] It is
hard to imagine alternatives to the universal system of
double-entry bookkeeping, but this is one.
In regular, double-entry bookkeeping, changes in balances
such as earning revenues and collecting cash are recorded.
These events are recorded with two entries, usually a debit
and a credit, assigned on a given date. In momentum
accounting, changes in changes are the recognized events.
For example, an acceleration in revenue earning, such as a
$1,000 per period increase of revenues from $10,000 per
month to $11,000 per month, is a recordable event that would
require three entries to implement.
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / h.r. sreepada bhagi
I know about Single Entry & Double Systems of Accounting.
Now Internationally Double Entry System is recognised and
used, but came across this new 'Triple Entry System".
I am also interested to know about it, if it's indeed there
and anyone knows about it.
I am not convinced with the answer by MuniKrishna.
| Is This Answer Correct ? | 9 Yes | 8 No |
Answer / akasha mehar
Triple entry system have three sides of every transaction. One is debit, second is credit, or third side is the receipt side. it's like an evidence. It helps in the absence of receipts.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / duraiamuthan
A online virtual currency called BitCoin uses the triple entry system...More info about this currency can be found in the below link..http://bitcoin.org/en/faq#what-is-bitcoin
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / christella
The triple entry follow the double entry system (for every debit entry there is an equal and corresponding credit entry) except now, debtors and debted individually.
| Is This Answer Correct ? | 0 Yes | 2 No |
Answer / munikrishna
The system which consist of three way matching of the
accounts.
Cash, Receipt, and ledger are the three.
| Is This Answer Correct ? | 6 Yes | 18 No |
Answer / nagesh
This is a Trick question ,
No such method is invented yet.
| Is This Answer Correct ? | 2 Yes | 14 No |
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