As you are aware Government of India has demonetized Rs. 500 and Rs. 1000/- currency and placed several restrictions on cash transactions to deal with cash crunch problems as a result of it. The main restrictions are
The single contributing factor for the success of modern day business is the double entry system. Prior to that the accounting systems that were followed were diverse and lacked proper system. The double entry system of accounting is in its present from more than 700 hundred years.