https://www.youtube .com/watch?v=ivrHlW7XsUU
Welcome to another video in my free online bookkeeping course. This course teaches the basics of double entry bookkeeping. In this video, I teach the basics of t accounts. Next Video: https://youtu.be/H87k83Ws5jU 30 day FREE trial for Sage Business Cloud Accounting – http://sage.qumg.net/AVy3J – NO card needed Facebook – https://goo.gl/mNuaaW Twitter – https://goo.gl/Y8JjE8 Instagram – https://goo.gl/cPps5K Many more FREE videos and courses at www.freebookkeepingaccounting.com The ULTIMATE bookkeeping and accounting course – https://goo.gl/bstcB3
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Hi i would like to ask when it comes to sale it was on credit side. how come it reflected as debit in the bank account if it is a sale. I am confused. Should it be on the credit side?? Please help. Thanks
Credit sales, debit the bank. I hope this helps. Thanks for watching.
Having watched a number of your videos I find them clear and interesting. Generally when watching accounting videos something that does confuse at times is the difference between Sales and Revenues, Dividends and Purchases! Are they simply different terms used?
Sale and revenue can be the same thing. Dividends are payment of profits to shareholders. Purchases are cost of sales. I hope this helps. Thanks for watching.
Is T accounts bookkeeping used instead of or with double entry bookkeeping? Thank you. Lisa
With. ‘T accounts’ are an old term now though. Nowadays they are usually called nominal accounts. I hope this helps.
I am so glad my manager shared your link with me, I appreciate the time and effort you have put into explaining and how easy it is to understand. Thank you
This was an excellent video. I really understood the information presented. Thanks.
Glad you enjoyed it! Thanks for the comment
Afterr learning this course and quickbook can we do freelancing?
You will need some experience first. Thanks for watching.
great video thanks
one question what is the difference between quickbook and bookkeeping? and do we need to know about quickbook in order to do bookkeeping?
Yes, QuickBooks is bookkeeping software. I hope this helps. Thanks for watching.
Hey, are the different T accounts also known as ledger accounts? Hope this makes sense.
Yes, they can be. Also nominal accounts. Thanks for watching.
@BookkeepingMaster Thank you!
If the T account is called Loan, do we still have to write loan on the Cr or we should write the corresponding accounting name
The accounting name but you can write whatever is going to make sense to you and/or anyone else reviewing the accounts. Thanks for watching.
Thanx, I am HOOKED up to your Basic Bookkeeping course, I think for me the BEST thing to learn is to learn the BASICs, and then gradually SCALE up when you already acquired some confidence in your newly acquired skills, BIG Thanx, from a fan from the Philippines.
Great to hear! Thank you so much for watching
Great video! Thank you!
You bet!
I would liked to say thank you i found your youtube channel about bookkeeping, I am new to this course and for me your the best teacher very well explain.
Awesome! Thank you!
Thank you again.
Thank you for watching!
Thank u for the encouragement
Thank u for the view and comment
I still can’t figure out if I’m just reselling items online how I will go about it? First I have to add the journal transaction item under debit and bank account under credit. But when I sell the item at the higher profit how do I go about it? I know i have to add the transaction as dr bank account and cr sales but is that it?!
Hi Alex. You are right… The very basics are DR Purchases CR Bank, then DR Bank and CR Sales. The profit and loss will then show the difference between the purchase price and the sale price. I hope this helps. Thanks for watching.