https://www.youtube .com/watch?v=DVU3byLNtOQ
The basics of double entry bookkeeping including simple ways to remember debits and credits. Need help with Sage or other accounting software? Drop us an email at [email protected] Take our Online Sage training course http://www.bpfs-online.com/p/online-sage-training-course.html Create a bookkeeping spreadsheet using Microsoft Excel Sage Accounts Bookkeeping Tutorial/Training Learn more at www.bpfs-online.com
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Thank you so much im doing Booking keeping and trial balance this video made the introduction to it so much easier
Glad to hear it. Thanks for watching
Thanks so much! After watching this video, it all makes so much sense. All the other reading i have done has been explained in terms that are confusing and i felt i was going in circles. Great video!
Thanks. Glad that my video helped.
Why did the company change the name of Peachtree to Sage? This is offtopic but I noticed them changing it. I tried using Peachtree before but it’s hard. Haha.
Peachtree is the US and Canadian version of Sage
@BookkeepingMaster Oh I see. Is there a difference between the 2?
Yes, totally different
Hello, I enjoy your videos about double-entry bookkeeping. I’ve noticed that you’ve represented your Debits (Left Side of T representation) with a plus (+) sign for an increase and with a negative (-) for a decrease. In Accounting, do we ever represent the Credits (Right Side of T representation) with plus (+) signs or negatives (-) signs?
Debit is not + and credit is not -. The bank account may work like this but that is not how debits and credits work in general. Thanks for watching.
Thank you for your videos! Question : Do you need to record T Accounts if you have a software that records sales and expenses for you?
No, T accounts (nominal accounts) and the double entry is all done for you. You still need to know these principles if you want to understand what the software is doing and the financial reports.
Thanks for watching.
Hi your vidoes are really good and helpful, thank you for this. In this video you created a T column it was so quick I didn’t get that, also how to replicate that as you did in the other parts as well. Thank you.
You need to format the cells and add borders to the cells. Perhaps try re-watching the video again? Thanks for watching.
Brilliant thank you so much 🙂
You’re very welcome! Thanks for watching Emma
Excellent introduction to book keeping. I’m a newbie so simple questoin: Do I have to track amounts in the monthly overview as well as in the T accounts? It seems like duplication or do they serve different purposes?
Thanks for the comment and for watching.
Which monthly overview are you referring to? A bookkeeping spreadsheet or accounts software is generally the quickest way to account for transactions.
@BookkeepingMaster In your accounting basics videos, you created an Overview and a P&L statement. The Overview contains Income, Assets & Liabilities, Expenditure and Expenditure codes. That seems to track the ins and outs as in the double entry T-charts. I am trying to track a small amount of self-employed income with related equipment purchases, so accounts software might be overkill, and I want to learn the basics out of general interest. I want to make sure I am not duplicating effort unnecessarily. Thanks for the videos they are just the right level for a beginner like me.
I love your tutorial sir.Will stay here to learn more of your amazing tutorials on bookkeeping
Handsome
Thank you for your sharing Video and knowledge
My pleasure. Thanks for watching.
I have been having so much trouble figuring out when to Debit and when to Credit ! The PEARLS idea will help ! Thanks !!
So glad! Thanks for watching.
@7:15 really easy and useful trick.
Glad you liked it. Thanks for watching!
Thank u so much
No problem
I thought when taking money out the the business its a Drawing
It can be, if the business is a sole trader and they’re withdrawing profits. Thanks for watching.