Debits & Credits | Learn to Understand and Make Journal Entries

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In this video, we're focusing on debits and credits from an accounting perspective. You don't need to memorize any complex rules or acronyms like DEALER to understand them. My goal here is to give you a solid understanding of how debits and credits work within journal entries. Whether you're new to accounting or just need a refresher, this beginner's guide will walk you through the basics step-by-step.
I'll be honest here, I struggled to fully grasp debits and credits until I let go of what they mean in the real-world. In everyday life, debit and credit primarily relate to the movement of money in and out of your bank account. But in financial accounting, debit and credit are part of a broader system called double-entry bookkeeping. Their purpose is to track the financial health and activities of a business, not just the movement of cash. So, we'll focus on their accounting-specific roles in this video. I'm really excited to share my experience and insights with you!