A single-entry system of bookkeeping is only helpful if you wish to record the revenue and expenses of your business. It only records single entries of transactions making it difficult to spot errors and keep track of credits and debits. Double-entry system on the other hand records every credit and debit entry of each transaction. It keeps track of the account from which the money is being debited to the account it is being credited. This eases the recording of transactions and also makes it easier to spot any errors.