Accountant Explains
Accountant Explains
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How much tax do you pay? Employment Income tax 2023/24
What is the Tax on Employment Income? Tax due on your employment income in 2023/24 is based on your Net Adjusted Income across 3 Tax brackets.
If you are in England, Wales or Northern Ireland, this is the Tax you will pay on your Employment Income in the Tax year 2023/24 #tax #incometax #finance
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ความคิดเห็น

  • @lukevirtualgameruk3523
    @lukevirtualgameruk3523 11 วันที่ผ่านมา

    Thank you sir best video I seen.

  • @Noora-z8d
    @Noora-z8d 11 วันที่ผ่านมา

    Thanks Life saver❤

  • @AsimbongeMncube
    @AsimbongeMncube หลายเดือนก่อน

    Im gonna get a 100% after watching your vid

  • @KathrynLeaphart
    @KathrynLeaphart 2 หลายเดือนก่อน

    Great Video - You made this so simple

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Thank you for the comment! Glad it helped

  • @rochaaay
    @rochaaay 2 หลายเดือนก่อน

    The only video on youtube and person in the world that can explain this perfectly

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Haha i don’t think so, there are other great video on here too! But appreciate the feedback and support

  • @JamesLysaght-i8h
    @JamesLysaght-i8h 2 หลายเดือนก่อน

    legend couldn't understand my lecturer when she taught this but i could easily understand you

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Thank you for the comment and appreciation! Im happy this has helped you

  • @NazrawiSibhat
    @NazrawiSibhat 2 หลายเดือนก่อน

    You are legend my friend.

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      You are a legend for watching and leaving a comment! Thanks

  • @bueno1738
    @bueno1738 2 หลายเดือนก่อน

    Thank you sir very helpful 😀

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Thank you for the comment and feedback

  • @kembafranklyn6610
    @kembafranklyn6610 2 หลายเดือนก่อน

    Very helpful

  • @BolajiTosyrose
    @BolajiTosyrose 3 หลายเดือนก่อน

    This is amazing ❤❤ Thank you so much, I was so confused on the double entry. Your video has cleared up my confusion.

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      I’m glad this has helped clear your concepts! Thanks for the comment

  • @DularaNonis
    @DularaNonis 3 หลายเดือนก่อน

    Thank you so much for this video. I was struggling with DEBIT and CREDIT. Once again thank you so much ❤🙏🙏

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      I am happy this has helped you! Thanks for the comment and feedback

  • @Sanskruti_Bhujbal
    @Sanskruti_Bhujbal 3 หลายเดือนก่อน

    Thank you!!

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      You’re welcome Thanks for the comment and support

  • @Abdulrehmanshah-n5q
    @Abdulrehmanshah-n5q 3 หลายเดือนก่อน

    amazing....thanks

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      You’re welcome Thanks for the comment

  • @shanicesuper5982
    @shanicesuper5982 4 หลายเดือนก่อน

    Yo!!! I’m so happy I found this video

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Im glad this video has been helpful for you! Thanks for the comment and support

  • @xolizondo2081
    @xolizondo2081 4 หลายเดือนก่อน

    Thank you so much for this video. I have no accounting background and this video is the first one that has given me hope that maybe I am finally going to understand the double entry principle. You have saved my life.

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      That’s great to hear this has helped you clear your concepts! Thanks for the comment

  • @RenzoRenzi-ns7de
    @RenzoRenzi-ns7de 4 หลายเดือนก่อน

    thanks this rllyyyyy helped me 👍👍

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Thank you, I’m happy this has helped you!

  • @shyaamo
    @shyaamo 4 หลายเดือนก่อน

    Clear explanation...

  • @agyahannatu
    @agyahannatu 5 หลายเดือนก่อน

    Very interesting, have learnt alot, I'm preparing for accounting job, this will take me a long way, please sir, more videos 🙏🙏🙏

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      I’m sure you will do well in your job! And im happy this has helped you Will try to get back in making more content soon

  • @gillyk3466
    @gillyk3466 6 หลายเดือนก่อน

    DEALER is also good example

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Yes indeed! Thats a great way to understand debits and credits too

  • @Reatile_Ramafikeng
    @Reatile_Ramafikeng 6 หลายเดือนก่อน

    Sat through a 3 hour lecture and all my questions where answered in a 1minute video 😢

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Thank you for the feedback! And support

  • @nanaobengbismark42
    @nanaobengbismark42 6 หลายเดือนก่อน

    I can now work at the bank. why is it that our professors do not explain it this way.

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      Thank you for the feedback and comment I’m sure you are doing great at work!

  • @poolzones8464
    @poolzones8464 6 หลายเดือนก่อน

    Your method is ingenious and very appealing. I learned a lot. There are a few terms that are thrown around by others. Isn't a credit essentially a minus? I mean I look at credits with the minus figure in front of the credit figure. Another aspect that would make accounting easier to comprehend is using the full term of a concept. Take for example the word expense as an account. It is actually an expense ledger, is it not? I mean, are these just all different ledgers? Expense ledger, rent ledger, cash ledger, etc. That makes the concept easier to comprehend. So instead of saying the expense is a debit and the cash account is a credit. It seems clearer to say the expense ledger is debited (and increases) and the cash ledger is credited (and decreases, which also decreases the bank account). Also, each transaction must have a double entry. There is a skill to learn. But there are always two entries.

    • @accountantexplains
      @accountantexplains 12 วันที่ผ่านมา

      I dont know if i fully understood your comment but it seems like you are saying different people would present it differently which would be the case to some extent. Credit it shown with a bracket (can be seen as minus in some presentations) but if you were to show it in a T account you wouldn’t need to use the bracket to indicate its a credit instead you wouldn’t use positive and negative to indicate its value if you see what i mean. Then for the last query on ledger or expense, so yes each double entry transaction will hit two ledgers and by using the name of it for example expense, rent or income in the context of the explaining double entry or debits and credits would imply your posting the entry to that ledger. For example if i said i made a cash rent expense of £100 that is what has happened but when you post the entry you wouldn’t use positive just say debit rent expense and credit bank by £100. There needs to be some basic level of knowledge as a pre-requisite so this should to be too much of an issue i think. Thanks for the comment and appreciation!

  • @madmoneyfinances3249
    @madmoneyfinances3249 7 หลายเดือนก่อน

    Excellent video. Great, simple breakdown. Much appreciated. One thing though... If you think money in the bank is an asset and NOT a liability, your financial foundations and understanding is dangerously skewed.

    • @accountantexplains
      @accountantexplains 7 หลายเดือนก่อน

      Thanks for the comment. Although I didn’t quite understand the second part of it. This is a video on what the entries are for various accounts within double entry accounting concepts. And i don’t see how you are saying cash going into a bank account is a Credit entry? Whenever cash goes in the bank it will be a debit entry (increases your asset) 100% all the time, its never a credit entry. Is that what your saying? I would love to know how thats possible But if your referring to lets say you get cash in the bank account as a loan and that is what you call a LIABILITY then again your wrong in the theme of this video. Even in that case your journal entries would be Debit bank and Credit loans - so in this case even though its a loan (liability) but for you to post that transaction into your ledger you would still need to say your asset (bank) has increased so it will be a debit and a liability (loan) has also increased so it will be a credit. That is double entry accounting, when an asset increases but creates a corresponding expense or liability. Please do respond if i didn’t answer your concern properly and i’ll be happy to explain further!

    • @madmoneyfinances3249
      @madmoneyfinances3249 7 หลายเดือนก่อน

      @@accountantexplains "The Creature from Jekylle Island" by G. Edward Griffin

  • @sankyeat
    @sankyeat 7 หลายเดือนก่อน

    I'm confused on this. Debit = an entry recording a sum owed and Credit = an entry recording a sum received. Right? if liability takes money out of your account, how can it be a credit? Why does a decrease in liability count as a debit but an increase in liability is a credit to your business?

    • @nirajthakor9748
      @nirajthakor9748 7 หลายเดือนก่อน

      Who said credit means a sum received???

    • @sankyeat
      @sankyeat 7 หลายเดือนก่อน

      @@nirajthakor9748 Google.

    • @accountantexplains
      @accountantexplains 7 หลายเดือนก่อน

      Don’t look at it debit and credit as in and out of the bank (thats also the term banks use on their statements, a topic for another video) Instead see it this way, if you receive money your bank has increased in value. Bank is an asset by nature, if that goes up in value its a debit. So in the case that bank goes down in value (i.e. money leaves your bank) the same bank will be a credit. And to answer your other question, no Debit is not a sum owed or Credit is not sum received. I think you got this confused with how a bank statement shows money in and money out, that is looking at the cash movement from the banks perspective (this is another interesting topic i will make a video on as i see a few people get confused to see the bank statement showing money coming into the account as credit on their statement but here i say bank money comes in is a debit). I am explaining the double entry in which case it is a debit entry on your journal entry but the bank statement is from the bank’s point of view so for them to receive money its a credit for them as they will need to return it back whenever the customer (you) will withdraw it. As said its not easily explained within a comment so i will add this topic to the videos to do for sure!

    • @nirajthakor9748
      @nirajthakor9748 7 หลายเดือนก่อน

      @@accountantexplains Thanks sir..Btw i want to know too that on what basis they make entries? As you said that they do on their perspective but suppose i withdraw money from bank so they'll ofcourse debit my account but on what and even what do they credit??

    • @sankyeat
      @sankyeat 7 หลายเดือนก่อน

      @@accountantexplains Thanks, I appreciate the feedback. Do we know why certain things are debit by nature and why others are credit by nature? Or is this something accountants don't know or need to know?

  • @donfrancis1246
    @donfrancis1246 7 หลายเดือนก่อน

    Thanks a ton!

  • @Cherrykiller666
    @Cherrykiller666 7 หลายเดือนก่อน

    Thanks! Very useful information

  • @conradbo1
    @conradbo1 7 หลายเดือนก่อน

    Great and informative video. Thanks a lot.

  • @Jaassmmiinnee08
    @Jaassmmiinnee08 7 หลายเดือนก่อน

    Just wanted to say that I have watched so so many videos trying to wrap my head around double entry and this is the best one by far! Thank you so much for making this video, you have stopped me from giving up lol

    • @accountantexplains
      @accountantexplains 7 หลายเดือนก่อน

      I’m glad to know this helped you crack the code, it all links back to debits and credits believe me! Thank you for the feedback!

  • @JamesLowe-hv8qj
    @JamesLowe-hv8qj 8 หลายเดือนก่อน

    THANK YOU !!!! ALL I GOTTA SAY

  • @MelroyvandenBerg
    @MelroyvandenBerg 8 หลายเดือนก่อน

    This is the first youtube video I finally begin to understand double entry accounting. Thank you!

    • @accountantexplains
      @accountantexplains 7 หลายเดือนก่อน

      Great! Thanks for the comment, I’m happy this has helped you

  • @m.padmashree2519
    @m.padmashree2519 8 หลายเดือนก่อน

    I understood very well about debit and credit sir thank you but i request you to make lot of videos about financial accounting and all the concepts of accounting and also final accounts sir 🎉😊

    • @accountantexplains
      @accountantexplains 7 หลายเดือนก่อน

      I have not been active lately I accept that but I’m definitely working on getting back in the routine to making new content regularly soon. Thank you for the feedback, i’m glad you liked it!

  • @VikasKumar-qb3dv
    @VikasKumar-qb3dv 8 หลายเดือนก่อน

    Bro, my partner is not working at the moment can i also apply for the marriage allowance, where i wouldnt have to pay the tax.. Can u please answer.

  • @donfrancis1246
    @donfrancis1246 8 หลายเดือนก่อน

    I am someone with no background in accounting, yet I was able to get it. Your mnemonic is so good. Thank you.

    • @accountantexplains
      @accountantexplains 7 หลายเดือนก่อน

      Happy to help! Thanks for the feedback

  • @Virtues162
    @Virtues162 8 หลายเดือนก่อน

    'Accountant Explains ' host _____The Man______The Myth_______The Legend !!

  • @thebubble734
    @thebubble734 8 หลายเดือนก่อน

    Thank you so much! I just couldn't get my head around this concept and this has huuugely helped

  • @UNKNOWNPERSONALITY111
    @UNKNOWNPERSONALITY111 9 หลายเดือนก่อน

    My partner don’t work so if she apply, from 2016 which means today in 2024 I will get £1250 for 8 years in my bank account??

  • @La_fish
    @La_fish 9 หลายเดือนก่อน

    Extremely useful! Thanks man you should take my lecturers job cause they don’t know wtf is cutting

  • @Stichfans-mi
    @Stichfans-mi 9 หลายเดือนก่อน

    Very good video

  • @keisham
    @keisham 9 หลายเดือนก่อน

    thank you very much! debit and credit very well explained. otherwise people generally thinks debit means decrease and credit means increase. it all depends on type of transactions.

  • @prakhar3365
    @prakhar3365 9 หลายเดือนก่อน

    very helpful, thanks

  • @itz_PROCHANOD
    @itz_PROCHANOD 9 หลายเดือนก่อน

    Thank you so much.i understood everything you told and i liked subscribed commented and shared to everyone in my class :)

    • @accountantexplains
      @accountantexplains 9 หลายเดือนก่อน

      Thank you for the support, helps alot!

  • @famia1070
    @famia1070 10 หลายเดือนก่อน

    Thank you for this video. It helped me very much to understand the double entry book keeping.

    • @accountantexplains
      @accountantexplains 10 หลายเดือนก่อน

      I’m glad this has helped you🙂

  • @Jas-fm5wf
    @Jas-fm5wf 10 หลายเดือนก่อน

    explained better than my fat rass teacher

  • @OFNETWORK-y5c
    @OFNETWORK-y5c 10 หลายเดือนก่อน

    Thanks for this great video. It was really very useful for my learning. Gave me a better grab of the debit vs credit double entry struggles have been having. I appreciate. Felix

    • @accountantexplains
      @accountantexplains 10 หลายเดือนก่อน

      thank you for watching! & i'm happy to hear this helped you understand Debits & Credits

  • @abrahimshorbtli9714
    @abrahimshorbtli9714 10 หลายเดือนก่อน

    Why do you only have 1.7k Subscribers this video is a lifesaver your DEAD CLIC is extremely useful brother much appreciated I hope you reach 1 Million subscribers soon and become the best accounting channel on TH-cam 🙏

    • @accountantexplains
      @accountantexplains 10 หลายเดือนก่อน

      I am glad the concept has become more clear to you with the help of this video, really appreciate your kind words!

  • @5ickpirate
    @5ickpirate 10 หลายเดือนก่อน

    very well explained..cheers

  • @LOWRYDR7
    @LOWRYDR7 10 หลายเดือนก่อน

    Thank you a lot! You made my day bro, honestly. Спасибо Огромное! Katta Rahmat oka atdushe)

    • @accountantexplains
      @accountantexplains 10 หลายเดือนก่อน

      i'm glad you have got some benefit from this video, thank you for the feedback!

  • @sarahbeaumont8015
    @sarahbeaumont8015 10 หลายเดือนก่อน

    Thank you! Well presented, it now makes a lot more sense watching this along with my text books! 😁

    • @accountantexplains
      @accountantexplains 10 หลายเดือนก่อน

      Thank you for watching & i'm happy to hear this has helped you!

  • @dj28200
    @dj28200 10 หลายเดือนก่อน

    Great video thanks a lot 👍👍👍

    • @accountantexplains
      @accountantexplains 10 หลายเดือนก่อน

      I'm glad this helped, thank you for the feedback!

  • @syedshahzadshahzad3739
    @syedshahzadshahzad3739 11 หลายเดือนก่อน

    Simple ❤ in one line😍