Thanks. I give you credit for having one of the clearest and concise explanations. Using the zero and the red and green arrows are very beneficial for those who are visual learners. I have been searching for an explanation that would help me grasp how debits and credits work, and yours is the one!
I've been trying to make sense of debits and credits for 6 weeks of my first semester of school for my associates in accounting and I have been so lost. This helped tremendously!
Your a living legend my man! I’ve been taking accounting for just over a year and never could wrap my head around the whole debit and credit situation but thanks to ur video I feel comfortable with this topic THANK UUUUUUUUU
FINALLY! Thank you for a tool to use when trying to figure out where to place the debits and credits. The arrows honestly simplified this for me and took away the great mystery that was leaving me to be so lost!
This is the best explanation of debits and credits I have ever seen. Ya see... HOW things are taught is as important as WHAT is taught. Well done, Al Wallace!
This was the best explanation of debits and credits that I have encountered. I just couldn't wrap my head around it until now. This has helped me tremendously in my Accounting I class. Thank you!! Thank you!! Thank you!!
I have been absolutely stumped by the concept of WHY things worked the way they did with T accounts in the expanded equation, and suddenly the lightbulb went off. Thank you!
Genius. Although I've already understood the normal balances, but your perspective is really unique and easier to master. Many of my classmates are still confused at this matter, and my instructor can not find the other way to help them out. I gave this video thumbs up when I watched it at the first minute.
Oh. My. Gosh. You actually made it make sense. I have been so confused for YEARS. THANK YOU SIR! You rock. Thank you for having a passion to teach. Thank you for teaching me.
Just wanted to say thank you. I’ve been struggling in my Accounting class for weeks now; everything seemed so complex and convoluted. This method is so beautifully simple and intuitive. You really made my day. I have some hope walking into my midterm this week. Thank you again so much for sharing this!!!!
Wow!! Awesome video. The simple hands-on method that you teach made so much sense vs. having to guess which side the values are to be placed. Thank you
Fantastic. I also like to classify income and expense accounts separately so you can then demonstrate the linkage of the Income Statement to owners equity. Keeps things really clear.
You my man are a bloody genius!!! Thank you for explaining it so I can understand. I have a test to complete and could NOT get this. Now it's simple. THANK YOU!
Incredible! I never comment, but this time i had to. So clear and simple explanation. I have been wracking my brain for days to try and understand balance sheet accounting. This should be taught just like this in every accounting course!
I'm currently in an online 8-week Accounting class through Indiana University that is completely self-taught. I was really struggling to grasp the concept of debits and credits, but this one video helped me so much and made the explanations in my textbook so much clearer!
Thank you so much!! I could not understand this credit and debit concept. I was equating credit with plus and debit with minus and I was so confused! This make so much more sense! why don't they explain it like this in school?? feels good to get it!! I want to hug you.
Had so much trouble understanding other accounting videos you explained it so well that it was easy to understand. Others teach you like your in Harvard but you teach it so even a 6 year old can understand. Thank you very much.
Thanks! Worked in a bank when i was younger, started my own business and struggled to understand why everything is backwards in accounts ever since. Never seen it explained till now.
So true! I watched hours and hours of videos, and still didn't get the Debit vs Credit concept, until I landed on this one. This has a simple formula to understand the two. Going towards or away from 0, is the best concept, a fundamental concept, to understand Debit vs Credit. Hats off to Al Wallace!
Yep ! i Don't remember how MANY times i've told people that if your child isNT excelling in Maths at school, the problem is . . . . . THE TEACHER, period ! Not that the teacher is GENERALLY BAD, but to be exact, the teacher is GOOD for OTHER kids, but his style of language, communication and choice of examples, do NOT match your child's WAY (style of language, comm., examples) of perceiving things, Teacher-to-Learner brain-wiring mis-match !
I've been through so much videos and lecturers explaining it to me, i finally can say I understood the logic. Your technique is amazing!!! Thank you so much! I nailed my MBA because i could not understand that tiny details!
That 0 just saved my life I've been watching TH-cam videos since 9 this morning and 2 days chapter reading and you put it in a way I can find the understand thank you so much
Wow!! Been through a number of videos trying to understand this, FINALLY !! Accounting made VERY easy. Thank you, thank you. Please post other accounting topics.
I know it's a bit late in the video, but for the cash for supplies example at 5:41 after the supplies have been used and no longer in the business do we alter the account further more? I can understand both sides of keeping supplies at $40 to show our cash expenditure and at the time the account's affected, but wouldn't there be an offset in the balance sheet if our supply asset decreases down to $0 after they've been used?
Thanks for the great illustration, I just need to know if the equity & cash are affected by the bought of the asset. You mentioned that the account payable will increase, but I think by doing this the cash will decrease and the equity too..
4 weeks of Financial Accounting I class and watching this video I get a lot better understanding after 12 minutes of video versus textbook reading after 4 weeks.
Fifteen years ago someone told me accounting is not about math - it’s about rules. I didn’t understand it. But now that I’m learning accounting it all makes sense. To learn accounting you must first learn the rules of accounting or it won’t make any sense!
No memorization required, it's all intuitive Credit > the source, "give him some credit" Debit > the destination, receiving, being "indebted" In every transaction, some account is the source of money (it gets the credit), and another account is the destination of money (it is indebted). You earn a fee from a service. The source of money is the "fees earned" account (credit), the destination (debit) is the cash account. You buy a building with a loan. The building is the destination of money (debit), the loan is the source of the money (credit). You pay back a loan with cash. Your loans payable account is the destination of the money (debit), your cash account is the source of money (credit).
Been in debit sucks. I took a risk management. I collected a loan from the bank and invested in Bitcoin forex trading. After making thousands of dollars from the trading market. I clear up my loan now I'm comfortable
Bank this days invest with your money you saving with him. So They make profit while you don't. Instead your money drop in value when I been kept in the bank.
So I'll advise any one to invest on bitcoin and be careful whom you invest with. That's why I chose to trade with a professional expert trader like Mr Sean
The secret to debit is buy expensive things that are meaningless and won't appreciate with time , While the secret to Credit is investing in the little way you can for possible massive returns. It's funny how the school system don't teach that
Great point, It's funny how the school system teach a lot of irrelevant stuffs about credit instead going straight to the point and hit the nail on the head
Derek Rodney I make more than 100% of my investment because i use the help of Mr Gregory Davids who is a Pro Investor from wall street. You can reach him on What(s)app #44 77 2371 6941 gregorystevedavids (qt) g m q i l - c o m ...Pro Investors perform magic with their trading pattern and strategy
toward the zero is brilliant !!! thanks for video !!!! one question: the service charge revenue is $20 credit and $20 debit to Customer deposit -- but it balances on the same side of the equation one is liablity other is OE. why is there is no balance to the asset side of the equation??
In your last example (photography shop), when the bank charges a $20 service, I could also say that this transaction will increase the bank's assets by $20, and thus, because in your method Assets increase to the left, then it should represent a DEBIT instead (debit=left). Can you tell me why this reasoning is wrong?
I have been interviewing for entry level accounting jobs and I might be getting one soon (depending on how tomorrow's call goes, wish me luck) so I'm here to understand accounting concepts that I learned 3-4 years ago but have forgot
Thanks. I give you credit for having one of the clearest and concise explanations. Using the zero and the red and green arrows are very beneficial for those who are visual learners. I have been searching for an explanation that would help me grasp how debits and credits work, and yours is the one!
Me too. Ive been searching for something that made sense. This one.
I've been trying to make sense of debits and credits for 6 weeks of my first semester of school for my associates in accounting and I have been so lost. This helped tremendously!
Your a living legend my man! I’ve been taking accounting for just over a year and never could wrap my head around the whole debit and credit situation but thanks to ur video I feel comfortable with this topic
THANK UUUUUUUUU
Incredibly helpful way of explaining to a math inclined, visual learner like myself. Bravo!
Your explanation was excellent. Clear and simple to understand. Thank you!
FINALLY! Thank you for a tool to use when trying to figure out where to place the debits and credits. The arrows honestly simplified this for me and took away the great mystery that was leaving me to be so lost!
I've watched soooo many videos trying to understand this concept, but it finally clicked with your visual! Thank you for uploading!
Crystal clear! Thank you for explaining and sharing this wonderful lesson.
This is the best explanation of debits and credits I have ever seen. Ya see... HOW things are taught is as important as WHAT is taught. Well done, Al Wallace!
This was the best explanation of debits and credits that I have encountered. I just couldn't wrap my head around it until now. This has helped me tremendously in my Accounting I class. Thank you!! Thank you!! Thank you!!
I have been absolutely stumped by the concept of WHY things worked the way they did with T accounts in the expanded equation, and suddenly the lightbulb went off. Thank you!
I have watched 15 videos trying to grasp this. Definitely the best video I have seen!
Genius. Although I've already understood the normal balances, but your perspective is really unique and easier to master. Many of my classmates are still confused at this matter, and my instructor can not find the other way to help them out. I gave this video thumbs up when I watched it at the first minute.
Try this one: Anything which increases A-L-E is a debit. Anything which decreases A-L-E is a credit.
Oh. My. Gosh. You actually made it make sense. I have been so confused for YEARS. THANK YOU SIR! You rock. Thank you for having a passion to teach. Thank you for teaching me.
You, Sir Al Wallace, are a true hero, a hero's hero. This should be a Ted talk - thank you for taking the trouble to teach it!
Just wanted to say thank you. I’ve been struggling in my Accounting class for weeks now; everything seemed so complex and convoluted. This method is so beautifully simple and intuitive. You really made my day. I have some hope walking into my midterm this week. Thank you again so much for sharing this!!!!
Wow!! Awesome video. The simple hands-on method that you teach made so much sense vs. having to guess which side the values are to be placed. Thank you
Spent 3 weeks in class lost with this concept, literally 5 minutes into this video it clicks. Thank you for explaining this!!!
Fantastic. I also like to classify income and expense accounts separately so you can then demonstrate the linkage of the Income Statement to owners equity. Keeps things really clear.
You my man are a bloody genius!!! Thank you for explaining it so I can understand. I have a test to complete and could NOT get this. Now it's simple. THANK YOU!
Thanks for the kind words
Incredible! I never comment, but this time i had to. So clear and simple explanation. I have been wracking my brain for days to try and understand balance sheet accounting. This should be taught just like this in every accounting course!
You took a confusing concept and watered it down to simplicity ... nicely done ... thanks for taking the time
mind blown.... so this is how you visualize it! you're a life saver sir, thank you very much for this explanation.
I really appreciate you, you master it very well. I was confused and could not absorb it. With your explanation, I will not miss it at all.
Thank you
OMG - I have just watched about 6 videos trying to understand this and FINALLY I get it.
You have explained it well! Thank you :)
I'm currently in an online 8-week Accounting class through Indiana University that is completely self-taught. I was really struggling to grasp the concept of debits and credits, but this one video helped me so much and made the explanations in my textbook so much clearer!
Thank you so much!! I could not understand this credit and debit concept. I was equating credit with plus and debit with minus and I was so confused! This make so much more sense! why don't they explain it like this in school?? feels good to get it!! I want to hug you.
Had so much trouble understanding other accounting videos you explained it so well that it was easy to understand. Others teach you like your in Harvard but you teach it so even a 6 year old can understand. Thank you very much.
Why did my professor not explain it this way? Thank you so much! You are a blessing.
Thanks! Worked in a bank when i was younger, started my own business and struggled to understand why everything is backwards in accounts ever since. Never seen it explained till now.
Wow, you are amazing and I love the Arrow analogy. You make sense and it's very helpful! Thanks so much!
Hands down BEST explanation on TH-cam!!!!!! Good work and thank you!
man.... Great one.. 6 hours of mine cleared in 5 mins.. God bless u
12 weeks of uni, didnt get it, 5 mins here, understands it completely hahaha
Strongly agree.. I trashed $500 in my accounting class.. while here I leaned it for free..
hahaha very true.... now for i do most of leranings on youtube let it be on sickness, graphics, coding..all on youtube cause i easily understand here
So true! I watched hours and hours of videos, and still didn't get the Debit vs Credit concept, until I landed on this one. This has a simple formula to understand the two. Going towards or away from 0, is the best concept, a fundamental concept, to understand Debit vs Credit. Hats off to Al Wallace!
Yep ! i Don't remember how MANY times i've told people that if your child isNT excelling in Maths at school, the problem is . . . . . THE TEACHER, period ! Not that the teacher is GENERALLY BAD, but to be exact, the teacher is GOOD for OTHER kids, but his style of language, communication and choice of examples, do NOT match your child's WAY (style of language, comm., examples) of perceiving things, Teacher-to-Learner brain-wiring mis-match !
Hi sir nice Explanation of Dr.Cr. concept ...
Thank you so much for this video! I could not understand the debit/credit concept in my accounting class for anything. Now it makes perfect sense!
I've been through so much videos and lecturers explaining it to me, i finally can say I understood the logic. Your technique is amazing!!! Thank you so much! I nailed my MBA because i could not understand that tiny details!
I have always struggled to understand and remember debits and credits. However, after this video I won't forget thank you very much.
Wow! I understood immediately. I am in week three of Accounting one, training to be a bookkeeper. I already get it thanks to you!
I've been struggling so long now but finally got it thanks to this! Thank you sir!
the feelings to finally understand this is incomparable, great explanation
very helpful, you are such talented teacher.
I FINALLY understand!!!!! Thank you for taking something so confusing and making it seem SO simple!!! Brilliant!!!
That 0 just saved my life I've been watching TH-cam videos since 9 this morning and 2 days chapter reading and you put it in a way I can find the understand thank you so much
You saved my career choice! The towards zero concept really helped me connect some important dots!
the red and green arrows made it easy to understand where to place the transaction, thanks
Thank you for explaining so we could understand it. I could not get it through my head until I watched.
Wow priceless video right here, I’m starting an accounting class in 4 weeks and this will be a tremendous help, thank you sir !
This has to be the BEST video ever explaining debits and credits!!!
Excellent explanation, would have helped so much when I was still attending. Thank you for posting, I see in the comments it has helped many others.
Wow!! Been through a number of videos trying to understand this, FINALLY !! Accounting made VERY easy. Thank you, thank you. Please post other accounting topics.
I'm really impressed!! This is one of the hardest parts and you nailed it! Thank You! Great job!
I know it's a bit late in the video, but for the cash for supplies example at 5:41 after the supplies have been used and no longer in the business do we alter the account further more? I can understand both sides of keeping supplies at $40 to show our cash expenditure and at the time the account's affected, but wouldn't there be an offset in the balance sheet if our supply asset decreases down to $0 after they've been used?
Thanks for the great illustration, I just need to know if the equity & cash are affected by the bought of the asset. You mentioned that the account payable will increase, but I think by doing this the cash will decrease and the equity too..
Thank you, your explanation was simple and easy to grasp.
Al, that was very easy to understand, thank you for making this recording, I look forward to watching your other instructional videos as well.
4 weeks of Financial Accounting I class and watching this video I get a lot better understanding after 12 minutes of video versus textbook reading after 4 weeks.
OMG, Thank you so much!!!! You are AMAZING!!!! Please keep making more great videos!!!
Fifteen years ago someone told me accounting is not about math - it’s about rules. I didn’t understand it. But now that I’m learning accounting it all makes sense. To learn accounting you must first learn the rules of accounting or it won’t make any sense!
Your explanation is excellent thanks a lot.
This helped so much -- thank you. What a beautiful accent you have.
This is an excellent explanation of debits and credits.
Classic discussion and presentation. Nice.
This video is so good my teacher showed it to us in class, and I'm from Portugal, thank you sir!
Thanks for sharing! You simplified the concept tremendously. God Bless!
Really good explanations with the examples - Thank you
I cant thank you enough. Brilliant Work
There is a lot of good staff here,well done
Thank you!!! Much easier when you have such a nice voice too!
Thanks so much for your video. It turned on the light and answered the question about banking!
No memorization required, it's all intuitive
Credit > the source, "give him some credit"
Debit > the destination, receiving, being "indebted"
In every transaction, some account is the source of money (it gets the credit), and another account is the destination of money (it is indebted).
You earn a fee from a service.
The source of money is the "fees earned" account (credit), the destination (debit) is the cash account.
You buy a building with a loan.
The building is the destination of money (debit), the loan is the source of the money (credit).
You pay back a loan with cash.
Your loans payable account is the destination of the money (debit), your cash account is the source of money (credit).
I just want to thank you!! Because with your technique i was able to help my sis with her assignment 😊😊😊😊😊
Been in debit sucks. I took a risk management. I collected a loan from the bank and invested in Bitcoin forex trading. After making thousands of dollars from the trading market. I clear up my loan now I'm comfortable
I don't think that's possible with the risk
Risk management and trade are better by expensive account
Bitcoin is by far the biggest Crypto market going on how.
Bank this days invest with your money you saving with him. So They make profit while you don't. Instead your money drop in value when I been kept in the bank.
So I'll advise any one to invest on bitcoin and be careful whom you invest with. That's why I chose to trade with a professional expert trader like Mr Sean
Explaining that its NOT (+) or (-) on each side VERY important. Thanks!
Thank You! Great visual and explanation.
You deserve millions of likes from my side...brilliant explanation and clarity personified
Whaoo. In 12 minutes you simplified an otherwise complex process. Thanks
this is by far the best technique to use debit/credit jargon !!
That zero in the middle thing and red and green arrows got me off the bench and into the game. More, more, more!!!
Very well explained. Thank you so much!
The secret to debit is buy expensive things that are meaningless and won't appreciate with time , While the secret to Credit is investing in the little way you can for possible massive returns. It's funny how the school system don't teach that
Great point, It's funny how the school system teach a lot of irrelevant stuffs about credit instead going straight to the point and hit the nail on the head
According to statistics, the world will face a major economic recession in the coming year, and are you planning ahead for it?
@@nevilleoscar6613 During Economic Recession Millionaires are made in the wall street.
I want to make money too can anyone recommend me to any wall street trader?
Derek Rodney I make more than 100% of my investment because i use the help of Mr Gregory Davids who is a Pro Investor from wall street. You can reach him on What(s)app #44 77 2371 6941
gregorystevedavids (qt) g m q i l - c o m ...Pro Investors perform magic with their trading pattern and strategy
thank you so much for this video i’ve been trying to understand this for hours and i watched your video for a couple minutes and understood it!
The first 1:39 of this video is exactly what I've been searching to understand this whole time! Thanks lol
Al, thank you sooo much. This is the best accounting tutorial I have ever seen! I luv you for this!
toward the zero is brilliant !!! thanks for video !!!! one question: the service charge revenue is $20 credit and $20 debit to Customer deposit -- but it balances on the same side of the equation one is liablity other is OE. why is there is no balance to the asset side of the equation??
You are the greatest being of all time for this video!!!!
In your last example (photography shop), when the bank charges a $20 service, I could also say that this transaction will increase the bank's assets by $20, and thus, because in your method Assets increase to the left, then it should represent a DEBIT instead (debit=left). Can you tell me why this reasoning is wrong?
OMG thank you for this! The diagram helps so much.
Thank you very much sir. I understood in 5 minutes.
Thank you.
And Thank You for explaining why I was confuse in the first place.
Thanks. Took me years to figure this out. You explained it in 10 mins.
Thanks for this video! My textbook confused me, but this cleared it up!
I have been interviewing for entry level accounting jobs and I might be getting one soon (depending on how tomorrow's call goes, wish me luck) so I'm here to understand accounting concepts that I learned 3-4 years ago but have forgot
You are an amazing teacher. The first time it got through to my brain. Lol
i learn a lot from here..the demonstrator explain clearly
This has been the best video ever on this topic!
Thanks for a perfect explanation!
It's insane that we haven't found a better way to do this that people can understand easily
@@stevexracer4309 I think you're right
OMG!!!! Now it makes perfect sense!!!!! Why doesn’t everyone explain it like this?!
thanks a lot for your excellent explanation .
Thank you for helping me to finally comprehend for my Intro to Accounting class. I was starting to think accounting wasn’t for me. :)