Exactly How JOURNAL ENTRIES Work (in Accounting).



Journal Entries Cheat Sheet → Accountancy Fundamentals Lesson 4. In this episode of Accounting Fundamentals for Novices, I explain Journal Entries totally! In this episode of Accounting Things – Accounting Fundamentals Lesson 4 – you will certainly uncover:. ▪ The definition of accountancy Journal Entries, as component of Standard Accounting for Beginners. ▪ The most regular Journal Entry Format as well as exactly how Journal Entries are taped. ▪ How to check out that your Journal Entries equilibrium. ▪ I will certainly similarly take you via the differences in between Handbook Journals & Automatic Journals. ▪ And … normally, we will certainly speak with 2 Journal Entry instances. ▪ Journal Entries for Dummies. Subscribe for even more Accounting Tutorials → ⏱ TIMESTAMPS. 00:00 – Introduction. 01:15 – Why do we Record Deals? 02:15 – What are Journal Entries? 02:26 – What does a Journal Entry look like? 03:51 – Handbook vs Automatic Journal Entries. 04:20 – Journal Entry Example. 05:47 – Wrap-up. REGULARLY ASKED QUESTION. ▪ My Favourite Accounting Reserve for Novices → CLOUD ACCOUNTING SOFTWARE APPLICATION. ▪ QuickBooks Online U.S.A. (FREE TRIAL/DISCOUNT) → ▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → ▪ Xero → ▪ Freshbooks → SPREAD SHEET SOFTWARE APPLICATION. ▪ Sheets → ▪ Excel → ADHERE TO ME ON. ▪ Insta → ▪ Twitter → DISCOVER ACCOUNTING ESSENTIAL TOTALLY FREE. ▪ The Complete Playlist → ________________________. PLEASE NOTE. A few of the web links over are associate web links, where I make a little compensation if you click the web link and also get an item. You are not bound to do so, nevertheless it does aid cash these video clips in hopes of bringing worth to you! ________________________. #accounting #accountingbasics #accountingstuff

Journal Entries Cheat Sheet → Audit Fundamentals Lesson 4. In this episode of Accounting Fundamentals for Novices, I define Journal Entries entirely! In this episode of Accounting Things – Accounting Fundamentals Lesson 4 – you will certainly find:.

19 thoughts on “Exactly How JOURNAL ENTRIES Work (in Accounting).

  1. I am watching this to recall but I didn’t find the different types of accounting with their examples.
    Can you elaborate please?

  2. Your videos are super useful, man!
    I’m at my university doing an Introductory Accounting course. Your videos are more useful than the 2 hour lectures.

  3. I am still not sure why the cash account credited in your laundry example. Can someone clarify?

  4. Your videos are so helpful! Do you think you could make one focusing on FoB Shipping and FoB Destination

  5. Great video! Just a quick question about the example: I’m just a little confused as to why the cash is credited if cash is considered an asset (based on DEALER, assets should be on the left side of the equation). Or, it is simply that because the laundry cost is an expense, the cash has to be on the left side to balance it out? If that is the case, then is the cash considered revenue in this scenario (So cash can be both an asset or revenue depending on the scenario)? Thanks in advance!

  6. Hi James, thank you soooo much for these amazing videos! Pure gold. I’m at the end of my financial year (slightly overdue) as a small business owner, which I set up last year, which means first tax return, eeek! Just trying to get my head around all of this stuff, and don’t know if I’m going too deep with all of your videos! But I’m finally beginning to understand the terms! The double entry bookkeeping is still one that is boggling my mind. Wish I had known all this stuff at the start of my business. Now it seems I need to back track all this stuff to create my balance sheet!

    One question: As an artist do I include my own labour into the production costs when it comes to cost of goods sold in the Loss/Profit Sheet?

    I would really appreciate if you could do a special for artists or even manufacturers when it comes to inventory and assets.
    Keep up the great work!!! Thanks so much

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