Description:

In this video we teach you accounting basics. How debits and credits works

 

Video:


 

Table of contents:

 

  • 00:00:39 – Debits left side, credits right side (with example)
  • 00:01:20 – Dea/ler acronym (Dea: dividends, expenses, assets; Ler:  liabilities, equity or owners capital, revenue or sales)
  • 00:02:45 – Debit accounts (increased, left side) ; Credit accounts (increased, right side) and viceversa
  • 00:03:23 – Total debits = total credits
  • 00:04:03 – Example (journal entry in QuickBooks Online)
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