T Accounts Explained in Detail | Double Entry Bookkeeping System - Part 3

The T Accounts are the next steps in mastering the double entry bookkeeping system after you learn how to create Journal Entries.

This video explains the role of T Accounts in the Accounting Process and what are the parts of an ideal T Account.

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Timestamps:
00:00 Introduction
00:31 What are T Accounts?
00:49 Journal Entry Postings to T Accounts
01:00 The T Accounts during the Closing Date
01:10 The Trial Balance
01:26 The Parts of an ideal T Account
01:30 Debits and Credits
01:38 Transaction Dates
01:47 Transaction Description
01:51 Debit and Credit totals
02:07 Net Debit Balance
02:31 Net Credit Balance
02:56 Adding up all net debit and net credit balance
03:20 What's next?
03:31 Outro

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