# I would love a better understanding of multi entity accounting and how it all works as this is new to me.

I am concerned about intercompany payables and receivables not being handled appropriately for tax purposes

##### Post Metadata
- Posted at: over 6 years ago
- Net upvotes: 1


## Comments
### Comment 1

Hello Christina:

I "assume" you are referring to dual entry accounting.  If not, please post as a reply in the comments.

If you are asking about multi entry accounting (a/k/a dual entry accounting), this refers to having entries with debits and credits.  Each set of transactions (debits and credits) must balance.

This is one of the essentials for Generally Accepted Accounting Principals (GAAP) and is the foundation for ensuring that all accounting is uniform across various industries.

I hope this information helps.  If you have any questions or need additional information, please let me know.

Best Regards,

Kevin

##### Comment Metadata
- Posted at: over 6 years ago
- Author title: SVP of Finance at Addiction Recovery Care




## Related Product
[Sage Intacct](https://www.g2.com/products/sage-intacct/reviews)

## Related Category
[Accounting](https://www.g2.com/categories/accounting)

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