ONE-WRITE SYSTEM Definition

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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

SFAS is Statement of Financial Accounting Standards or Statewide Fixed Assets System.

NORMALIZED EARNINGS is earnings that have been adjusted in order to take into account the effect of cycles in the economy.

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