Debits and Credits MADE EASY with ADEx LER
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- เผยแพร่เมื่อ 28 เม.ย. 2024
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Dive deep into the world of accounting with our easy-to-understand guide on debits and credits! Perfect for beginners, this video demystifies these fundamental accounting concepts. Whether you're a student, a budding entrepreneur, or just curious about accounting, this video is your first step towards mastering the field.
⬇️ Download the practice file here: pages.xelplus.com/debit-credi...
✨What You'll Learn:
▪️ Basics of Debits and Credits: Discover how every financial transaction involves both debits and credits.
▪️ T Accounts Simplified: Learn how T accounts are used to track debits and credits in a visual format.
▪️ Balancing Act: Get to grips with balancing transactions and how debits and credits must always equal.
▪️ Impact on Account Types: Understand how different types of accounts are affected by debits and credits.
🔑 Essential Concepts:
▪️ Two Main Account Groups: Assets, Dividends, Expenses (ADE) vs. Liabilities, Equity, Revenue (LER).
▪️ Easy Mnemonic: Remember 'ADEx LER' to keep track of which accounts are debit or credit.
▪️ Debit and Credit Cards: Clear up common confusions about how these banking tools fit into accounting principles.
00:00 Easiest Way to Learn Debits & Credits
00:53 T-Account Basics
01:08 Rule #1 in Accounting
01:25 Rule #2 in Accounting
02:04 Balance of a T-Account
04:10 Rule #3 in Accounting
04:34 Which Accounts are Debits and which Credits
06:34 ADEx LER (the secret to remember)
06:41 Accounting Debit / Credit example
08:00 Debit and Credit in Banking (Debit Card)
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#Accounting
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Challenge accepted? Download the practice file now and see how many journal entries you can ace 👉 pages.xelplus.com/debit-credit-practice-file
Thanks! You can also remember DEALER (might be easier). D = Dividends, E = Expenses, A = Assets (all three are Debit Accounts...think dividends, debit for this grouping)...then L= Liabilities, E = Owners Equity, R = Revenue (these three are Credit Accounts)
or you could use LEADER !! that's me.. I lead you to total confusion, don't I?
@@jon8796 yes, exactly! I panicked for a second when I realized, "oh great there's 2 E's, how will I remember that one? DUH! LOL 🤣
😊😊
I user DEALER - for this reason being able to identify what sits in DR and CR columns
So, the banks are not backwards, they're just telling the consumer what THEIR books say or indicate. This is the best explanation yet.
I use DEAD CLIC >> Debit for Expenses, Assets, Dividends; Credit for Liabilities, Income and Capital :)
Haha. That's a good one too :)
0
My husband just taught me that! He is an accountant turned Registered Nurse lol!
@@LeilaGharani how does owner's Withdrawal fit into the equation? (as it is an owner's equity) shouldn’t it is a credit account??
@@enyiomaloveslearning746 that’s funny! I’m a registered nurse going into accounting / finances
It's still confusing, but EXCELLENT video. I appreciate that you are clear, and that you admit it is confusing, rather than stating the facts as if it should naturally make sense.
Still struggling
I am paying thousands of dollars to take my Accounting courses and my Professor cannot get me to understand this. College is a rip off. TH-cam University for the win!
you-versity
You're paying for infrastructure (theirs). Not an education (yours).
@@bettyangwenyi1797
Precisely!
💯
being a dyslectic when I found out the "left-right" trick for debit/credit, I ended up getting a masters degree in accounting. Knowledge is useless unless is shared and explained properly so anyone can enjoy regardless of the status he is in; and you have a gift in explaining with simple words and right to the point, excellent job..
Thank you very much for the kind words Christos!
Yes, THANK YOU!!!! Thank you!!!! I have studied, asked my instructor, read and re-read. Watched a million and one videos and yours is the ONLY one that made it click. Thank you so much.
Wonderful! That's really great!
Your a fabulous teacher!! I went to go see if you had more videos, so, I was SUPER excited to see that you have so many!! 🤣 Bless your heart... pages and pages!! Yay! I am so greatful. Thank you for helping those of us that need this. You are definitely doing what you need to be doing. Fulfilling one of your gifts. God bless!
The Golden Rules of Accounting
Debit The Receiver, Credit The Giver. This principle is used in the case of personal accounts. ...
Debit What Comes In, Credit What Goes Out. This principle is applied in case of real accounts. ...
Debit All Expenses And Losses, Credit All Incomes And Gains.
Debit is by the window! Sorry, couldn't resist. All humans ie non-accountants to ignore ;-}
the third line confuses me a lot, please explain further
After searching for countless similar topics on TH-cam, it is the most straightforward and logical explanation for debit and credit in accounting. Professional, no drama expression like some TH-cam production, understandable speech speed and intonation.
Totally agree
Thanks Leila for your content! I wish I was just sit in a classroom watching you :) Very composed and clear teacher
Extra thanks for clearing up the credit card-debit card confusion!
I am in business school now and I come from a non-business background/undergrad. Your videos have been very helpful in providing context into accounting, which I greatly needed to understand my current classes Thank you.
Leila, you're a really good teacher! You explain it so well, I understood my first go round! Thank you!
9:07 " do the general rules of accounting not apply to them" .... your best quote to date
finally! someone cleared the difference of debit /credit in accounting with the debit/credit in banking. nice video. LOVE!!
Wonderfully explained at the right pace. Your delivery is awesome.
Tysm to clear this in depth
The Atm bank card part had always confused me while learning accounts, now you've cleared it 😅
Debits and credits are so important to learn the basics Accounting. Thanks for the content
accountants Dont EXpect Low Earning Rates! I love this hint!! Thank you!
Excellent video. Really easy to follow, and the on-screen visuals aided my understanding immensely. Thank you!
Finally !
Someone who removes the confusion behind the logic.
An excellent excellent teacher !
Thank you
Glad it was helpful!
@Leila Gharani
I'm new to your channel, this is the first video I've watched of yours. You answer every question without me having to ask or wonder.
I'm going to watch all of your accounting and excel videos, and enroll in your courses.
Thank you again.
OMG! No one has ever explained this so clearly! Thank you!
Thank you so much for this!! I have been struggling with this concept for ages and love the explanation at the end about the bank cards :)
I became a big fan of you, I love Excel more than anyone on the earth, thus you always inspire my passion of Excel with your perfect videos and your easy way of sending tricks, lessons and information directly to understanding centers in our brains, Thanks a lot for everything and looking forward for more amazing videos and ideas from you.
Finally a video that I 110% understand. Thank you for being so clear!
This is a great refresher for someone who took accounting a long time ago, thank you!
You're very welcome!
thank you so much ! honestly the first video that accurately explained and answered every question i had.
You're very welcome!
I'm glad you addressed the example of debit accounts with your bank at the end! This helped clear up the confusion, understanding that it is from the perspective of the bank.
Leila, you are the definition of genius: uncomplicated.
Thank you for explaining debit/credit from the bank perspective vs ours. Very helpful! You unconfused me! Marvelous!
You are so welcome!
Thank you Leila for this wonderful explanation.
the last 1 minute solved the confusion i had from the past whole day i.e my first accounting class thank you soo much!!!!!
This was a very clear explanation of a concept that I was having trouble with. Thanks!!
Glad it helped Vanessa!
Solid example. Thank you!
Thank you Leila. This has been very helpful for an absolute beginner. I starting to believe you CAN teach an old dog new tricks.
You are amazing Leila. So informative and clear explanation. I really appreciate your videos and your way of teaching! Thank you so much
Thank you Evgenia! Always nice to see your comments.
Yeah
Thank you for your good presentation of accounting lessons especially debit and credit methods.
The best video I have watched on this topic!
Thank you for your clear explanations!
Account Don't EXpect Low Earning Rates !! Very imformative wording ❤️ You are always best!
Somehow we have to remember it :)
Explain well and in a very professional way. Thanks!!
Glad you enjoyed it!
I have seen many TH-cam videos regarding debit and credit mam.....your video is best. You cleared my confusion when you explained how the bank treats one's cash account as liability account not as asset account. Thanks a ton mam
I have loved the point of view part. Resolves the confusion. Thanks a lot
Glad it was helpful!
Awesome video Leila. Thank you!
Thank you.This was reallly really helpful.❤
These videos are very helpful thank you for making these.
Once again, thank you Leila for doing this great presentation - even my accountant brother-in-law gets confused over debit and credit, especially where the bank is involved as they see these terms from their side of the fence! Accountancy is not a matter of maths, rather classification and how to decide where to put each item, e.g. a partial refund of a charge that had tax on it, now where to put that tax component!!! However, it is a great discipline and everybody should learn at least a little about it.
Absolutely agree George.
Beautifully presented
Thank you so much for this video you got me back up to speed in my principles of accounting course!
Glad it was helpful!
Beautiful explanation. ..the video is a good example of clarity ..brevity and accuracy. ..well done lady
Glad you like it!
Hi Leila, this was explained really well, I’ve took an interest in accounting and learning the basics, I can now memorise ADEX LER Just after watching this video.
Thanks for this video, really needed to refresh my memory about this 🌹
Good explanation of the debits/credits from the bank's perspective.
Thank you for the Debit card explanation. This really helps me to explain what is happening in our account. Thanks.
Happy to help!
Thank you so much Ms. Leila waiting for more.
There will be more Ismail :)
Wow, that was super Cool. I have always wanted to learn the basics of Accounting as I am not an Accountant. Coz often I have to struggle to get whether it is debit or credit. Thanks a lot. I think I will always remember this little trick.
Finally! Thank you so much for explaining why credit and debit is the opposite of what it actually means to most of us.
Thanks for so useful video, clear and direct. You´re great Leila. Greetengs from Mexico
Extremely helpful. Bless you!
wow! thank you, thank you, thank you. No one has been able to explain this like you do. Thank you for your simplicity. Teachers and book publishers think if they make accounting very complicated, that you will have more respect for them. And pay more money. You actually care if people understand these difficult to grasp principles. That is the essence of a good teacher.
Glad it was helpful!
I love your explanations....please consider preparing a good chart of accounts & Trial Balance.Thank you
thank you for the lesson
Much better explanation than other channels
Thank you so much to make every lesson so easy to understand. big fan of you from Algeria.
I'm really happy to hear that!
Thank you for your videos! Our favorite teacher! Thank you
Wow, thank you Nelson!
This is really good. Simple and clear. Thank you. I'm trying to teach this to 6th graders so this is the level I need.
Why are 6th graders learning accountancy? wow.
truly fruitful, what a way to explain things !!
Wow what a good explanation.. especially at the end.
Very informative, thank you 🙏
Thank you. It was very explained.
thank you so much....i had the exact same confusion...as i was looking @ my account from My PoV.....so glad I watched this video.
Leila fist for thanks for clearing my confusion about debit and credit now I am understand about your presentation so keep doing all the best 👍💯
Thanks for the nice explanations. Your good in accounts
Thank you for the very informative video. It has helped me a lot.
Daim you exlapined it soo goood.Loved it.
Thank you Leila for such a amazing video
Even though I am working in Finance and know all of these as they are very basics but I still watched it because I love the way you explain any topic and want to learn this from every video you make.
Thank you for the kind feedback. We will post more videos on accounting next year.
thank you so much.......great insight
Thank you for this amazing video. It helped me understand the concept though I am not accountant.
Amazing explaining of accounting principles...
Thnx alot...!
My pleasure. Glad you like it.
wow thanx. Cristal Clear.the Bank part in particular
very helpful especially the last part of it as i always had a confusion with that of banks handling the credits and debits rules.. tysm....
Glad you found it helpful.
this is so clear, as it was puzzling me at first. thanks.
Great to hear!
thank you for the upload. Very Helpful.
Thanks for explaining the banking side of it. Makes sense now
Glad it's helpful.
So helpful, Leila. We are beginning Quickbooks! Thank you :)
You're so welcome, Alana!
Thank you so much for this video.
Excellent way to explain in the simplest manner. Thanks Leila. This is internet. How your 2019 video helped me in 2021 and will keep helping others like me in coming years.
You're very welcome!
I don't even use Excel, I just watch because she is so sweet, beautiful, and a genuine TH-camr! ❤️
Yay! Leila hearted my comment! 😊
You are beautiful too.
She's so sweet, beautiful And a genius TH-camr 😘❤
Thank you very much Leila your amazing teacher i watch it countless videos but explanation is top and I subscribe to your channel
Awesome, thank you!
You explained better than my teacher! ❤
Glad to hear that!
It's my first time learning accounting and it seems very simple with your teachings
Ur simp
I used to use your channel for google sheets but this was a really helpful video. I'm gonna start to use your channel for accounting purposes as well.
Awesome, thank you!
the bank point have been the confusion to me today is cleared up, thankx
Glad it was helpful.
Great explanation 😃 ❤
Thank you so...much Leila for putting this a great video together about Debit and credit. I am a financial analysis but I never understand the accounting side of Debit and credit. It's so confusing to me. Now I landed a new position that requires me to understand it. Your video had made it so easy to understand and you explained so clearly. God bless your heart for sharing your knowledge.
Hey Sammie. I'm Sunday from Nigeria. I'm an Accounting graduate who has strong interest in Financial Analysis. Please, can we talk?🙏
@@sundayoyelakin4540 hello-how can I be your assistant?
Thanks for this video.
Loved the last part where you cleared the Bank's POV. That was creating a lot of confusion in understanding concepts.
Glad it was helpful.