What is the main characteristic of double-entry bookkeeping?

The main characteristic of double-entry bookkeeping is that each transaction is recorded in at least two places. This method ensures that the accounting equation, which is assets equal liabilities plus equity, remains balanced. When a transaction occurs, it is documented in two accounts: one account is debited, and another is credited for the same amount. This dual entry creates an accurate financial picture of the business, helps prevent errors, and facilitates the detection of discrepancies. Thus, the essence of double-entry bookkeeping lies in its ability to provide a comprehensive record of financial activity by simultaneously tracking both sides of every transaction.