Welcome to the final video of our four-part Accounting Basics tutorials. Here you will see everything you have learned from the first three videos come together to crystalise how it all relates to double-entry accounting. In the first video, Debits vs Credits – Accounting Basics – Part 1, you learned a golden principle that governs…
In this video, you will discover how to use a handy visual tool called T-Accounts to map out your debits and credits to help you get on top of your business transactions. Once you master T-Accounts, you will be able to figure out the debits and credits for any transaction that occurs in your business….
If you want to know how to decide whether an entry you make into a general ledger account should be made on the debit or credit side, check out the second video of our Accounting Basics series. This video explains clearly the nature of the five main account types: Assets Liabilities Owner’s equity Revenues Expenses…
Debits and credits are the building blocks of accounting and bookkeeping. While they are so widely used, they are so poorly understood. That’s because it’s not easy to explain how debits and credits work without using lots of confusing accounting jargon. That’s why we have put together a series of four video tutorials to simply…
Do you have a bill to pay for your business and you’re not sure how the GST works on the stamp duty part of the expense? Are you also wondering how to account for the transaction in Xero so the right information goes through to your BAS return? Because stamp duty is outside GST law,…
Have you purchased an asset for your business and you are wondering how GST works on the stamp duty you’ve paid? And are you wondering how to account for the transaction in Xero so the correct information flows through to your BAS return? Because stamp duty is outside of GST law, you need to make…
There are lots of times you will pay a bill or get a receipt from spending some money only to find that the amount of GST you’ve been charged is not 10% of the total. Usually when this happens, the amount of GST is less than 10% of the total amount of money you’ve spent….
If you give gift cards or vouchers to your employees as a reward for their hard work, you may be wondering how to properly account for the GST in Xero. Well, it’s easier than you may think! Buying a gift card and giving it to an employee is different to buying them a physical gift….
Are you starting a business and want to keep costs down by designing your own logo for free? Well, you’ve come to the right place. Our video tutorial will teach you how to easily and quickly make a business logo for free in Canva. You will discover how simple it is and will have the…
So you’ve picked the perfect name for your business and you’re ready to take the exciting step of registering it and making it your own. But how exactly do you go about registering a business name in Australia? This is exactly what our guide and video will show you. 3 Main Ways to Register a…
Coming up with the perfect name for your business can be as difficult as coming up with a name for your first child. That’s because your business’ name is an important part of your branding and how customers perceive your business, so you want it to stand out in a good way. And as someone…
When we hear the word blockchain, most of us think of cryptocurrency. But there’s a big difference between blockchain and cryptocurrency. And it’s the blockchain that many prominent businesses are interested in. Companies like Walmart are using or experimenting with blockchain technology to improve the way they do business. A lot of innovation is happening…
