Debit vs Credit Explained | Accounting Basics Made Simple
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YouTubeBrieflyFinance
Debit vs Credit Explained | Accounting Basics Made Simple
Confused by debits and credits? In this quick video, you'll learn what debits and credits are, why every accounting transaction has two sides, and how they work using a simple example. Whether you're studying accounting, preparing for an exam, or starting your accounting career, understanding debits and credits is one of the most important ...
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One of the first & hardest hurdles to overcome when you start learning double entry is … what’s going on in the bank!! You’ve spent your whole life knowing that a direct DEBIT comes out of the bank,& if someone is to CREDIT your account with a refund it’s money coming in, and now all of a sudden that’s all flipped on its head!? 😳😵 My top tip for overcoming this hurdle is just stick to what dead clic says & forget what you knew before starting your studies… but if you are like me, and need an e
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Replying to @April Mills debits and credits are the fundamental building blocks of accounting and one of the most important topics we cover in intro accounting. The key here is that most people initially think that debits and credits mean something they don’t. All that debit means is “left” and credit means “right”. How they affect specific accounts depends on the account TYPE (asset, liability, equity, revenue, expense). Once you are able to classify accounts by their types I think it should he
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