What is double-entry accounting banzai?

Banzai is an accounting software that utilizes double-entry accounting. Double-entry accounting is a system where every transaction is recorded in two separate accounts - a debit and a credit. This ensures that the accounting equation (assets = liabilities + equity) remains balanced at all times.

With double-entry accounting, each transaction is recorded with equal debits and credits, providing a complete picture of a company's financial transactions. This system helps to prevent errors and fraud, and provides a clear audit trail.

Banzai's double-entry accounting system allows businesses to track income and expenses accurately, reconcile accounts, and generate financial statements such as balance sheets and income statements. This helps businesses make informed financial decisions and ensures compliance with accounting standards.