What is the advantage of recording every transaction twice in two separate accounts instead just recording it once?
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It makes it far easier to detect mistakes. It also makes it easier to manage more complicated transactions since it enforces a discipline to break down the transaction into a series of credit and corresponding debit entries.
It also makes it much easier to compare transactions across accounts – say between two companies. This makes it easier to resolve disputes as each company will keep a record of both sides of their transactions -ie if company A and B are in dispute there will be 2 entries in company A and 2 in B and each can be compared to understand where the dispute lies. This makes it harder to forge payments and far easier to verify.
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