Single Entry is a simple accounting method used primarily by small businesses and sole proprietors. It involves recording only cash transactions, such as income and expenses, in a single ledger. This method is straightforward and requires less time and effort compared to more complex systems, making it accessible for those without extensive accounting knowledge. However, Single Entry has limitations, as it does not provide a complete picture of a business's financial health. It lacks the detailed tracking of assets, liabilities, and equity found in Double Entry accounting. As a result, it may not be suitable for larger businesses or those seeking detailed financial analysis.