Double Entry System

Who invented double entry system?

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vasudeo007

  • Oct 12th, 2008
 

It is not really known but the one who is credited for the same is

LUCA DE BARGO PACIOLI

he was calss mate of Leonardo da Vinci.

book Summa de arithmetica in 1494 was wrote by him

This book mentions double entry book keeping system as one of the methods of record keeping. But he surely was not the inventor of the method. But he was first one to mention it.

In India we used to have Mahajani system which was single entry book keeping system. But there were other methods as well.

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