Double-entry bookkeeping is important because it helps to prevent errors in recording financial transactions. Because the amount debited must be equal to the amount credited, it means the total amount on each column must balance the total amount on the other column. If the amounts on the two columns are not equal, you will know there is an error immediately. This way, double-entry bookkeeping helps to check for errors when recording transactions in a general ledger or in financial statements such as income statements and balance sheets.