A metering system uses an electronics assembly with a single transducer to determine flow rate. The meter assembly emits an ultrasonic beam from the transducer and splits the ultrasonic beam into a first partial beam and a second partial beam. The first partial beam is transmitted over a first path that returns to the electronics assembly, and the second partial beam is transmitted over a second path that returns to the electronics assembly. The first path goes over a first net distance of a measuring channel. The second path goes over a second net distance of the measuring channel. The meter assembly detects the return of the first partial beam and the second partial beam, measures a time difference between the return times, and determines a measurement of a fluid flow through the measuring channel based on the time difference.