ONE-WRITE SYSTEM Definition

Bookmark and Share

ONE-WRITE SYSTEM (also known as PEGBOARD SYSTEM) is a useful system for small and home-based businesses. It captures information at the time the transaction takes place. These One-Write Systems are efficient because they eliminate the need for recopying the data and are compatible with electronic data processing if you should decide to computerize. Many small businesses rely totally on the One-Write System for simplicity and versatility. With only two pieces of paper, a check and a ledger, you get all the benefits of sound bookkeeping: accuracy, money distribution, check control, audit trail, running bank balance, and instant review.

Learn new Accounting Terms

TRADEMARK is a formally registered symbol identifying the manufacturer or distributor of a product.

PLACEMENT is bank depositing Eurodollars with (selling Eurodollars to) another bank is said to be making a placement.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.