1. Single Entry Introduction
Under Single Entry Accounting System Two fold effect for each transaction is not given. Hence it is recorded only once in the ledger. Therefore Trial Balance and Profit and loss account cannot be prepared. To know the profit or loss of that year comparison is made with opening capital of that year with closing capital.
In this topic we are going to see how to convert Single entry in to Double entry System.

2. Total Debtors Account Total Debtors Account
With the help of Total Debtors Account it is possible to find out Credit Sales,Opening/Closing balance of debtors,or cash received from Debtors.
Total Debtors Account
Debit
Credit
To bal (opening)
To Sales
To Bills Receivable
By Cash
By Debtors
By Return Inwards
By allowances
By Bad Debts
By Bills Receivable
(receivable during the
year
By balance(closing)

3. Total creditors account
Debit
credit
To Cash
To discount
To Allowances(received)
To returns outwards
To Bills Payable(accepted
during the year)
To Bills Recei(endorsed)
To Balance(closing)
By balance
By purchases
By Bills Payable
(Dishnourable)
Total Creditors Account

4. Total Bills receivable Accounts
Debit
credit
To Balance(opening)
To Debtors(Bills Received
during the year)
By Cash
By Debtors ( bills Dishnoured)
By Creditors(Bills endorsed)
By Balance(closing) _
Total Bills Receivable Account

5. Bills payable Account Bills Payable account Particulars To cash(paid)
To creditors(B/p dishnoured)
To Balance(closing)
By balance(opening)
By creditors(bills accepted during the year)
Bills payable Account

6. How to find missing balances of these accounts?.
The difference between the totals of the two sides of the above accounts indicates the missing items such as credit sales/credit purchases,opening/closing Balance etc.