DEALER: The Number 1 HACK for Debits & Credits
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- Äas pĆidĂĄn 7. 07. 2019
- đDebits and Credits Free Quiz â accountingstuff.com/blog/debi...
đ„Debits and Credits Cheat Sheet â accountingstuff.com/shop
đDebits and Credits Practice Questions â accountingstuff.com/practice-...
The easiest way to remember Debits and Credits in Accounting! Watch this video to find out what DEALER means and how it can deepen your understanding of Debits and Credits. This is my favourite Accounting Basics trick to identify and distinguish between debit and credit accounts.
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#accounting #accountingbasics #accountingstuff
What are your Accounting Hacks??
đUSEFUL LINKS
âȘDebits and Credits Free Quiz â accountingstuff.com/blog/debits-credits-quiz
âȘDebits and Credits Cheat Sheet â accountingstuff.com/shop/debits-credits-cheat-sheet
âȘDebits and Credits Practice Questions â accountingstuff.com/practice-questions/debit-credit-question-pack-1
My accounting hack is the "Accounting Stuff" channel. (And I love this short and sweet format...)
@@ikekeonwu Haha, that is kind of you to say!!
I always find it hard to wrap my head around the fact that expenses go on the same side as assets. After all, expenses don't sound like something good, like assets. But I think of it that way: If you have more expenses then this means your operations are also going up. If you provide online services, for example, and your electricity bill goes up, that means the probably it was due to more clients and more services provided. So your expenses went up but your revenue also went up. So bottom line, expenses are a good thing (of course if they provide you with some benefit and are not just a waste of money). Not sure if it is exactly a hack but that's how I think about it.
@@zamf Thanks mate, it's good to hear a fresh perspective on the subject. Cheers!
Could you please do a separate video on COGS
I learned more in 3 minutes than I did in my whole intro accounting course! Thanks so much!
No worries! Glad to hear that the video helped
Same!
Right!?
I seriously made this poster before a job interview. I had "passed" a job interview with the CEO of a company and then he had his CPA firm interview me via phone call. I had pinned this up on my wall before my phone interview. Every question had something to do with how I would put something on the balance sheet. "If you took out a loan on a new car, how would you record it." This hack literally got me a job!!! Thanks!!
Congratulations đ
I'm an accountant and I still learn from you. Thanks !
Cheers Gamal, happy to hear that the vids are helping you out!
I'm scared for your clients then 0_0
Hopefully your clients do not see this xDDDD
3:11 That really was my reaction after understanding DEBITS and CREDITS
Haha, glad they're making sense!
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@@AccountingStuff thnk u sir
This was brilliant! I now understood why DEA are debits (destination) and LER are credits (source). It all makes sense now :) Thanks!
No worries Lena, great to hear it's making sense :)
BRO THIS IS THE VIDEO I NEEDED 3 YEARS AGO *crying*
Honestly you provide more insight than books and training companies combined with a video. Kudos!
Thank you my brother. I'm taking an accounting class in my first semester in college and to say I was confused is an understatement. Your a life saver!
This video is the best! I am a little embarrassed to say I finished my degree years ago but this topic has always been fuzzy for me. Thank you for the simplicity and clarity.
No problem :)
That is absolutely a fantastic explanation. Finally, after 5 years in Business, I started understanding accounting staff. Thank you so much!
Amazing -- I've watched a number of videos trying to understand why dividends and expenses are considered sources (including some of your other videos). I simply couldn't figure it out. And now, voila -- in 3 simple minutes I now get it. Thanks.
Thank you so much. I struggled to decide if I want to go to college, and which career would suit me best. I stumbled upon your channel BEFORE I enrolled in college and accounting classes. These videos have helped a lot!
Thank you so much for making these videos. I just started my first Accounting class and your videos have helped so much explaining everything on a beginners level.
its insane how much you can learn from your short videos!!! super helpful!
Glad you found it useful :)
I've taken several accounting classes and I, too, just learned something in 3 minutes that I could not understand after a year and a half of business school. Amazing!
Thank you so much for this. Most books and videos just tells me where to put the accounts when they increase and decrease and memorize a cheat sheet but doesn't give me a reason or explain why I have to put it there. Because of your simple explanation, my questions have been answered. I learned a lot because of your videos.
Honestly the best Accounting channel ever. Thank you so much!!!
I am taking a basic accounting class and I have really struggled with grasping the concept. Your videos are so good and you explain things that didn't make any sense to me seem so clear. I really hope that this will help me to complete this course as I want to get my certification. THANK YOU!! Any tips or advice is welcomed but I really wanted to express my gratitude.
Hey Emily! Glad to hear that things are starting to click. There are really only a few concepts to understand in Accounting. Once you get you're head around those, it'll all start to make sense. Best of luck with your class!
Love it. I've been struggling for hours wrapping my head about the concept of credits and debits. Thanks for the enlightenment đ€©
No problem, great to hear it's clicking for you :)
Best video ever about understanding debits and credits. Thanks
oh my god, this video helped me a lot. thank u so much, pls keep doing accounting videos as many as u can, i really love it
mind was just blown!!! I am just starting out on my accounting journey and I rewatched this video and it just clicked THANK YOU!!!! Please keep posting videos you are such a help!
No worries Jen! I don't plan on stopping any time soon
this is one of the best things i've ever seen in my life :) finally feel like i actually get accounting! thank you so much for these videos!!!
Glad it helped!
Thanks a lot. This 4 video playlist has been so valuable to me. You explained such hard concepts in such easy to understand way. I can now easily visualise all the concepts. Top quality videos.
Brilliant how you can communicate so much value in 3 minutes. Great work!
Cheers Hector!
Seriously, thank you! I had such a hard time wrapping my head around these terms (debits and credits) and this totally cleared it up for me!
No problem, you're very welcome :)
Iâve never subscribed so fast in my life! Great content:))
Wooo! Great to have you on board :)
Awesome thanks for the video. I was stumped on origins of what we consider DR/CR
As an accounting graduate who works in big4 now, I still learn from you! thanks!!!
No worries Joanne, you are very welcome!
I really appreciate you for sharing this, thank you.
I start my Accounting course in September, your videos have helped me prepare so much, Thankyou!
Good luck in your course Ashley! I'm sure you'll crush it with all of this preparation work you've been doing
Wow. You make this stuff so logical, as it should be. Thanks again!
Cheers mate, you are very welcome :)
I am going to watch this video 100 times until I get it. I'm transitioning into accounting and I feel like I'm learning a new way of thinking entirely. Your videos explain things so well and I'm finding them very helpful.
Best of luck with the career change! I hope it works out for you
How did it work out?
You changed my whole accounting life!
I FINALLY understand this. Great job with the simple accurate explanation
That's great to hear!
My favorite accounting of all the time.
When fun and knowledge are besties.
Thanks
Cheers, glad you enjoyed it!
So much to learn.
So eay to absorb! Thank you James!
No worries Carolyn, you are very welcome
you are a genius bro, like its been half a month that I am struggling with yet couldn't get it
Great work James! Compliments from a long-time video professional and now arts administrator expanding my bookkeeping skills. I picked up "Credit the giver--Debit the receiver" from Daniel, another on-line tutor, and find it helps too.
Cheers, I'm glad you enjoyed it! And thanks for sharing the tip
This hack helped me nail my interviews and still helps me make impression on accounting debates during my internship. Thank you so much!
That's great! DEALER ftw
how did you uses DEALER in the interview? did they just ask you whats a debit/credit and stuff like that. ive used the DEALER hack and i love it
This is awesome! I have learnt so much in this video. I have been frustrated with learning accounting, this video destroyed that frustration. Thank you!!!
Thanks! Great to hear you found it useful :)
So grateful I came across your channel, James! đ This definitely will help me with my job.. ! Thank you!
No worries, hope it helps!
Thank you so much James. Your videos are very helpful and easy to understand.
No worries Karen, I'm happy to help :)
So helpful in my teaching bookkeeping classes to non-accounting students.
I FINALLY understandđđđthank you so much!!!!đ
Well explained, James. God bless you.
I keep a sticky note with DEALER right by my computer to keep it all straight! I have also been sharing your channel with all of my classmates and professors that give me the opportunity. THANK YOU!
Great to hear you're finding it helpful! Cheers for sharing, I appreciate it
period this is my favorite video on the internet
Thanks!
Thank you so much for your videos ! They have been so extremely insightful and helpful for me !!
Cheers Jon, great to hear that the vids have been helping!
What a simple and a great video!!!
Watched done đđŒ. This is insane đđ
your videos helps me a lot , thankyou so much !!!
That's great to hear!
Thanks this is som much better than a class. The source and destination bit helped massively
Nice one! Hope it's making sense :)
Learning a lot through your tutorial videos.
Thank you so much
Awesome!
Great video and explanation. Thank you! âš
Love your videos! KEEP THEM COMING! Thanks
Will do, I'm on holiday atm so there will be a bit of a break but I have plenty more planned for the future!
The credits as the three sources of where the monies can come from and the debit as the three destinations of where the monies can go to was absolutely brilliant. Mind blown again. đ€Ż Thank you. đđ€
Great to hear it's clicking for you!
this has been the easiest way anybody have explain DEBIT and CREDITS to me
Hey Fathia, hope it's making sense for you :)
So grateful for this. Saving my life!
Cheers Shawnay!
This was unbelievably helpful - thank you :) !
No worries Jovanna, great to hear your found it useful!
THANK YOU THANK YOU THANK YOU! great way to teach and helps in retention!
No worries, hope it helps!
You break down so good! I catch on so easily
Cheers, glad to hear it!
I'm currently enrolled in college, for accounting. You're videos are a LIFESAVER! Thank you so much!
No worries, I hope your studies are going well :)
You are a genius to explain Accounting!
Thanks Dori!
Your videos are so helpful, thank you so much
Cheers!
I think this particular video should be recommended in links for your other videos, as this is the basic of basics...
Great great videos as always James
Cheers Willy!
James, you have made it very easy to understand
Glad to hear it :)
Thank you, sir, for these great videos!
No problem at all! Hope you find them useful :)
Thanks a ton, your videos helped a lot.
Glad it helped!
This is the greatest channel ever. You are so funny and cool and did such a great job of explaining all this- Much Love
Thanks, that's kind of you to say!
Perfect explanation!
I'm going to buy your all-in-one cheat sheet bundle!
Thanks Lauren and cheers for your support!
Love it, I had watched the other video and was still confused but this video just đ€Ż.
I just picked up on accounting after having an interest for years when I was in college for another career, everyone's comments make me feel so lucky to have found your channel.
Glad it's making sense!!
There it is! How you explained it at the end connected everything. The whole Credit vs Debit concept seemed entirely counter intuitive until you broke it down each letter and demonstrated DEA as destinations & LER as sources.
Thanks, glad to hear it's clicking for you!
"Dealer" is a total game changer! Thank you!!!
No worries :)
GOLD! Thanks for sharing the DEALER!
Cheers Michele!
This guy is awesome and deserve more subs. Also the thumbnail will bring you to watch the entire video.
That's kind of you to say :)
Wow Iâm great full for your videos please donât stop!
Cheers Justin, I plan to release many more
Accounting Stuff canât wait!
Very well explained. Keep posting videos because it is of great help. Plus, your speaking voice and appearance is pleasing and lovely..that makes it less confusing because you are interesting đ
Cheers for your support :)
dude love your style so down to earth
cheers
Thanks Caleb!!
So you useful đđđkeep up the work. Your videos help a lot.
Thanks Oliver! Will do, there are plenty more videos coming soon.
BLEW MY MIND!
You make accounting subject a fun and exciting way to learn đ
Thanks Bennelyn!
This is amazing đł
Best explanation everâThank you so muchâŁïž
Thanks Ilana, hope it helps
Tysm! This was really helpful!
Glad you found it useful :)
D- Drawings
E- Expense
A- Assets
L- Loss
Dr. Increases Cr. Decreases
C- Capital
L- Liability
I- Income
P- Profit
Cr. Increases Dr. Decreases
Nice one, whatever works for you!
Amazing !!
This is a fantastic video!! Great Job..
Thanks Albert!
wow he's good. I DEF went to click away and he said "but before you click away" lol he knows his people
Stand out from the crowd is Your Cool attitude and Awesome highclass editings !
Love from India â€âŁ
Thanks for your kind words!
Lovin this, very helpful!!!!
No worries Syahira!
Thank you! This really helped me.
No worries, I'm happy to help!
I love this guy
The DEALER hack worked. I had my First Accounting Exam and I got a 99 out of 100. I had 4 problems with Journal Entries, T Accounts, Trial Balances, Balance Sheets, Income Statements, Statement of Retaining Earnings, and Statement of Cash Flows. Once I remembered it then everything fell into place.
Congrats! You nailed it :)
Hi James!
I wanted to thank you for your amazing videos that really helped me in my Accounting I course. I'm about to begin Accounting II and I wanted to know if you could post a video on amortizing bonds?
Thank you & all the best!
Cheers Ariella, it's great to know that the videos have helped you. Thanks for the suggestion!
Thanks this helped so much đ
Awesome!
Iâm definitely sharing this with my entire acct class
Thanks Britt!
You explain it with such an ease, thank you. Can you please do some videos with examples on FIFO and LIFO?
Thanks Nadia, I plan to cover those topics very soon
Thank you sir