Debits & Credits and the Accounting Equation (for beginner bookkeepers!)

Debits and credits and the accounting equation, for beginner bookkeepers. I'll demystify debits and credits, explaining how they relate to the key accounts in accounting: assets, liabilities, and equity. By understanding the accounting equation of assets equaling liabilities plus equity, you'll gain clarity on how financial transactions impact your business's financial health. I then take you inside QuickBooks Online to show you how to create a journal entry using debits and credits.

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[FinePointsBookkeeping]

How do you remember debits and credits?

[franshayera]

I've been struggling trying to understand those concepts. You are the first and only to have cleared those up for me, and you did it in just 14 minutes. Thank you so much for this and all your content!!!

[lennydelgado]

as the sky. I’ve been struggling with these concepts. I am also a visual person. Thank you.

[careymelanson]

Great video! As a beginner bookkeeper I just Love your channel !! 💕💕👍

[matt]

Do you make closing and adjusting entries at the end of each month? Things like depreciation, prepaid expenses, and accruing expenses to match revenues?

[beccaboo]

Great video thank you for showing how to check my self so i know if i did it right!
One thing im not sure of is the credit memo vs discount. So if i wanted to give everyone lets say $20 off there December service. Is there a best practice on which to use for that or is it more of a personal choice?

[melisab]

Hi, my question doesn't relate to this video but I want to know do you recommend Booming Bookkeeping Business or Bookkeeper Launch?