what is single entry bookkeeping 
in single entry bookkeeping every transaction is recorded just once rather than twice as in double entry bookkeeping as either income or an expense single entry bookkeeping is less complicated than double entry and may be adequate for smaller businesses companies with single entry bookkeeping systems can perform a form of reconciliation by comparing invoices receipts and other documentation against the entries in their books the bottom linereconciliation serves an important purpose for businesses and individuals in preventing accounting errors and reducing the possibility of fraud 