A double entry system records all transactions we usually keep in journals. It prepares all final accounts and closes the books of several accounts. It ALSO posts journal entries REGULARLY in all ledger accounts and then prepares for a proper trial BALANCE. Some of the disadvantages of the double entry system include having an compensatory errors which is difficult to find out in this system, the system that NEEDS a lot of clerical labour and that it is hard to find all errors have been recorded in books. It is also smart to disclose the information which is not recorded in any journal.

A double entry system records all transactions we usually keep in journals. It prepares all final accounts and closes the books of several accounts. It also posts journal entries regularly in all ledger accounts and then prepares for a proper trial balance. Some of the disadvantages of the double entry system include having an compensatory errors which is difficult to find out in this system, the system that needs a lot of clerical labour and that it is hard to find all errors have been recorded in books. It is also smart to disclose the information which is not recorded in any journal.