Chart Of Accounts And Journal Entries In Accounting Explained!

Accounting Basics: In this episode of Accounting Basics for Beginners, I explain Journal Entries and Chart of Accounts.
In this episode of Accounting Sphere Basics Series, you will learn what are journal entries and chart of accounts. I've covered the following topics:
▪ The definition of accounting Journal Entries, as part of Basic Accounting for Beginners.
▪ What is a Double Entry system
▪ The definition of accounting Chart of Accounts, as part of Basic Accounting for Beginners
▪ What accounts are part of a Chart of Accounts and the logic behind it.
▪ How to check that your Journal Entries balance.
▪ Review accounting principles
▪ Journal Entries for Dummies
▪ And... of course, we will talk through Journal Entry examples.

⏱️TIMESTAMPS
00:00 Intro
00:27 Double Entry system
00:52 Chart of Accounts
02:01 Balance Sheet Accounts
02:27 Income Statement Accounts
02:45 How the Chart of Accounts Works
04:30 Journal Entries Examples
07:06 Chart of Accounts Examples

🔗VIDEO LINKS

The interface between journal entries and the chart of accounts is not immediately visible to some persons, hence I made this video about journal entries chart of accounts to help you understand!

So if you would like to find out more about the Chart of Accounts and Journal Entries, check this video and my channel for other Accounting Basics videos!

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#accounting #accountingbasics #accountingsphere #financialstatements #financialaccounting #accountingreporting #incomestatement #balancesheet #cashflow #journalentries #chartofaccounts

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