Double Entry Accounting

by Samuel
(Abuja, Nigeria)

Q: What is double entry accounting and who introduced double entry?

A: The answer to your first question is fully explained in the lessons in the section on double entry accounting. To put it simply, double entry means two entries - the entry of debit (left) and credit (right), which is based on the accounting equation.


The double entry system came about in published form in Italy during the Renaissance (1300s to 1500s). Some have found this in use as early as the 1200s and some even earlier. The main person credited for the development of the double entry system is an Italian monk and mathematician by the name of Luca Pacioli. He may not have invented the system, but he definitely got it typed up in book form, well-known and in use.

Anyone else have any information about the origins of the double-entry system?