How do Debits & Credits work in bookkeeping? скачать в хорошем качестве

How do Debits & Credits work in bookkeeping?

📚 New! Get my 2nd Edition Accounting Cheat Sheet Bundle → https://accountingstuff.com/shop In this video, you'll discover how Debits and Credits work in accounting. You'll also learn my number one Accounting Hack... DEALER. Debits and Credits are words that we use to reflect the double-sided nature of financial transactions. If you're new to Accounting, these words can seem a little counterintuitive. But listen here... They aren't good, they aren't bad... they're actually quite simple, and they have everything to do with "Double-Entry Accounting". Double-Entry Accounting is a bookkeeping system that says every accounting entry must have an opposite corresponding entry in a different account. In Double-Entry Accounting, we have two main groups of accounts: ▪ Normal Debit Accounts ▪ Normal Credit Accounts Normal Debit Accounts represent destinations that Economic Benefit flows to. They increase when debited & decrease when credited. Normal Credit Accounts work the other way around. They represent the sources that Economic Benefit flows from. Normal Credit Accounts decrease when debited and increase when credited. A simple acronym to help you remember the Normal Debit & Credit Accounts is DEALER. DEA represents the Normal Debit Accounts: Dividends, Expenses & Assets. LER represents the Normal Credit Accounts: Liabilities, Equity and Revenue. 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mf... ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🚶FOLLOW ME ON ▪ Instagram →   / accountingstuff   ▪ TikTok →   / accounting_stuff   ▪ Facebook →   / accountingstuff   ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #accounting #accountingbasics #accountingstuff