Double-entry accounting has origins spanning back hundreds of years, enable businesses to track assets, liabilities, and equity; the inflow and outflow of funds and resources in a business.

Between two parties or businesses, two sets of double-entry ledgers were maintained to account for transactional activity between the two.

But double-entry accounting, too, is prone to error, because a single transaction might be managed by two different entities in two different organizations. Records also can be fairly easily falsified under a double-entry system. source

Triple entry Accounting, w

Single-entrybookkeepingdealtwithonlystockaccounts,suchasassetsand liabilities,while double-entrybookkeepingextendedt to alsoincludeflowaccounts,suchasrevenuesandex-penses,under aninterlocking,articu-latedframework.1The roleof flow