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….
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…
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…
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…
