I'm loving learning from your videos thank you for explaining in lamens terms! Could you possibly write next to any abbreviations their full title ie: PEARLS = Thank you I'm now a fan of your website & channel 👍
I have a 'better' understanding on my 'debits', and 'credits' now, and, once again, these videos were kept 'simple', and explained very well !! Quick question here, do you require 'ledgers', for, CASH, PETTY CASH, and the BANK ? Many thanks!!
Thanks for your tutorial. I understood your lesson very well. but i have problem with fixing errors. what would your advice be for fixing complected errors?
Great video, would have been even better if the sales tax/VAT example on the spreadsheet was worked too. Perhaps Part 3 is imminent, maybe including a few comments on FRS too?
Thank you so much for the videos BookkeepingMaster! My goal is to build a client base of small business owners and run my own bookkeeping business...One day. I've watched through this 10 video series. What would you recommend to watch next?
Hello sir. I am not quite clear regarding why aren't we debiting the debtor/AR when we are making a sale on credit!? Or making a purchase and crediting the Account payable. Why control account!? Thankyou.
Control accounts are used for goods or services purchase on credit. Debit the expense and credit the liability. Credit the sale and debit the asset. I hope this helps.
Hi please can you explain how the net salary control account work. At my work we have a Dr balance in our net salary control account what dose that means. Ideally what is paid by the company should be exactly what is posted by the payroll however sometimes the debit is more than the payroll journal. And sometimes we pay less as per the pay roll journal. Dose the Dr balance means the company has paid more.? Also please can you explain how to reconcile the net salary control account by the end of each month?
The Sales Ledger Control Account is accounts receivable, you are correct. Other control accounts are not called accounts receivable though, such as the purchase ledger control account (accounts payable) and wage control accounts. Thanks for watching.
Yay, thank you. 5.03 - exactly what I needed confirming! Great explanations thank you.
No problem. Thanks for watching.
So clear! It's easy to watch and understand. Thank you.
Glad it was helpful! Thanks for watching.
I have my bookkeeping controls exam at the end of the month and this is super helpful! Thank you
Glad it was helpful! Good luck!
I am learning so much through your teaching, thank you so much, your a good teacher.
So nice of you. Thanks for watching.
Great courses explained very well. I particularly like the short video length instead of cramming everything into one very long video. Thank you sir.
No problem. Thank you for watching.
Thanks
Thanks so much!
Thank you, so helpful. I've just started my bookkeeping course.
Wonderful! Thank you so much!
You are a life saver! I completely understand! Thank you & God bless
Thank you. God bless you too.
Thank You Bookkeeping Master 🙏
My pleasure! Thanks for watching
Great video, I am studying aat, wasn't quite sure about control accounts. I am now, thank you.
The AAT is a superb qualification. Good luck!
I'm loving learning from your videos thank you for explaining in lamens terms! Could you possibly write next to any abbreviations their full title ie: PEARLS =
Thank you I'm now a fan of your website & channel 👍
Great suggestion! Thanks for the comment and for watching
Thank you Sir.
You are most welcome. Thank you for watching and for the comment
You forgot to do the sales tax, cos I really want to learn about taxes. By the way thank you so much for these videos, you're legend 👏🏼👏🏼
No problem. Thanks for watching.
So clearly explained. Thank you!!!!!
Thanks
I have a 'better' understanding on my 'debits', and 'credits' now, and, once again, these videos were kept 'simple', and explained very well !! Quick question here, do you require 'ledgers', for, CASH, PETTY CASH, and the BANK ? Many thanks!!
Glad it was helpful! Your comment is much appreciated. Ledgers, yes, control accounts, no.
@@BookkeepingMaster Thanks for that !! Merry Christmas!!
are the control accounts interchangable sith individual supplier and customer accounts?
I am not sure what you mean. Feel free to email me - info@bpfs-online.com. Thanks for watching.
Your videos are fantastic. It is really helping me understand double entry etc. Do you have any videos on how daybooks and cash books work please?
Thanks a lot. I currently have nothing on those items but I will add them to my list. Thanks for watching.
Thanks for your tutorial. I understood your lesson very well. but i have problem with fixing errors. what would your advice be for fixing complected errors?
It depends on what the errors are. You would need specific guidance for each error.
Great video, would have been even better if the sales tax/VAT example on the spreadsheet was worked too. Perhaps Part 3 is imminent, maybe including a few comments on FRS too?
Thanks for the suggestions. Please check my website for more free accounting courses and tutorials.
Question: for the $500 credit purchase can the business pay $300 via the bank and $200 via petty cash if they don't have sufficient cash in the bank?
Yes, that is not a problem. Thanks for watching and for the question.
Thank you so much for the videos BookkeepingMaster! My goal is to build a client base of small business owners and run my own bookkeeping business...One day. I've watched through this 10 video series. What would you recommend to watch next?
Good luck! Just head over to my website - www.freebookkeepingaccounting.com. Thanks for watching.
Hello sir. I am not quite clear regarding why aren't we debiting the debtor/AR when we are making a sale on credit!? Or making a purchase and crediting the Account payable. Why control account!? Thankyou.
Control accounts are used for goods or services purchase on credit. Debit the expense and credit the liability. Credit the sale and debit the asset. I hope this helps.
Brilliant thanks
No problem. Thanks for watching.
you haven't mentioned what happens to the VAT account, coz that follows the sale/purchase account
??
Hi please can you explain how the net salary control account work. At my work we have a Dr balance in our net salary control account what dose that means. Ideally what is paid by the company should be exactly what is posted by the payroll however sometimes the debit is more than the payroll journal. And sometimes we pay less as per the pay roll journal. Dose the Dr balance means the company has paid more.? Also please can you explain how to reconcile the net salary control account by the end of each month?
This video should help: th-cam.com/video/mJw_zeYGpYQ/w-d-xo.html
I thought it would be trade recievables and trade payables
It can be that also, there are a few different terms that can be used. Thanks for watching.
I've been calling control accounts "Accounts Receivable." Still an asset, but you haven't been paid yet.
The Sales Ledger Control Account is accounts receivable, you are correct. Other control accounts are not called accounts receivable though, such as the purchase ledger control account (accounts payable) and wage control accounts. Thanks for watching.