What is Double-Entry System | Accounting | MBA in Pills | 4wMBA

As any other language, the accounting system has its own. Indeed, in accounting in order for you to record a transaction you have to use the double-entry system. Double entry means that each single transaction needs to be recorded twice, on the left side if debited and on the right side if credited. Usually, when you think of debit or credit in real life is different compared to debit or credit in accounting. In fact, debit does not mean that you have a debt to be paid back; neither credit means that you have money to receive.

Subscribe to our youtube channel, to stay up to date with our content in the future.

[lakshanalinammaudhoo]

I have not understand anything as my English language is poor.
I am not telling that the guy has not explained the double entry system incorrectly but he has explained it in a marvellous way.
So I would like to encourage you to keep on uploading these helpful videos as it helps a lot of students.

[HiHi-yqht]

I read paragraphs but couldn't understand, your video was very helpful. thank you very much.

[tannieyahh]

Thank you so much!Looking forward for more video tutorials!More power and God bless!

[hoody]

I have learned from this video and really helped me in the understanding the double entry system ( please keep going like that (:

[mokshpatel]

Thanks alot
i knew about the debit and credit but this video showed me where to put the money in the double entry

[deviyantiputri]

it's such nice video.. it, s help me soo much for understanding my major.. thank you

[XXX-szlt]

When Jim pays for furnishing store, why did you registered as asset (furniture account) and not as expense with furniture? I understand that furnishing the store increases the value of the asset (store), but it is also an expense. Please explain.

[accountingforbeginners]

Good double entry principle explanation

[rabarkhalil]

it was very useful keep sharing with us

[anthonediergaardt]

I really didn't understand anything 💔😭

[AliAhmed-hjdk]

when i pay someone the remaining amount by cash what will be the transactions

[cornbrains]

One sentence finally cleared things up for me because the words debit and credit were lost on me. If a transaction is leaving an "account" it is a credit (right side of the T) and if it is entering the "account" it is a debit (left side of the T). I think?

[enockmarial]

Can anyone explain to more about how does income decrease debit bcz yo me it supposed to increase debit

[asammar]

I guess I am one of those people who will never quite grasp the idea of debits and credits, as they do, indeed, run counter to and different from real life. To me, debit means down, as when you use a debit card, the amount of your account goes down, immediately. I cannot see how a debit increases an account, and I have not seen anyone, yet, who can give an explanation that makes sense. To me, a credit increases, as when you put money into a bank account, the bank credits your account for the amount. Or when you pay a utility bill, the utility credits your account, although to you, it is like a debit, because, in essence, you are losing money to the utility. It seems to come down to a debit decreases, a credit increases, but not in accounting.

[rk-clre]

congrats on winning britains got talent

[-faisalosman]

merci beaucoup j'ai bien compris
continuer

[AllIsWellaus]

It ran far too fast. Just looking at the table went in an instant.

[ammarmufaris]

Well I tormented myself by listening to this Google translate voice .

[senixahaa]

"how this looks like"... get better English