Debits and Credits MADE EASY with ADEx LER
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- Äas pĆidĂĄn 29. 06. 2024
- Get Access to My Course "Fundamentals of Financial Analysis" here đ www.xelplus.com/course/learn-...
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.
âŹïž Download the practice file here: pages.xelplus.com/debit-credi...
âšWhat You'll Learn:
âȘïž Basics of Debits and Credits: Discover how every financial transaction involves both debits and credits.
âȘïž T Accounts Simplified: Learn how T accounts are used to track debits and credits in a visual format.
âȘïž Balancing Act: Get to grips with balancing transactions and how debits and credits must always equal.
âȘïž Impact on Account Types: Understand how different types of accounts are affected by debits and credits.
đ Essential Concepts:
âȘïž Two Main Account Groups: Assets, Dividends, Expenses (ADE) vs. Liabilities, Equity, Revenue (LER).
âȘïž Easy Mnemonic: Remember 'ADEx LER' to keep track of which accounts are debit or credit.
âȘïž 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
Challenge accepted? Download the practice file now and see how many journal entries you can ace đ 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 đ€Ł
đđ
I user DEALER - for this reason being able to identify what sits in DR and CR columns
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. CZcams University for the win!
you-versity
You're paying for infrastructure (theirs). Not an education (yours).
@@bettyangwenyi1797
Precisely!
đŻ
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 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) shouldnât it is a credit account??
@@enyiomaloveslearning746 thatâs funny! Iâm a registered nurse going into accounting / finances
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!
Thanks Leila for your content! I wish I was just sit in a classroom watching you :) Very composed and clear teacher
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
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.
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!! đ€Ł 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!
OMG! No one has ever explained this so clearly! Thank you!
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're a really good teacher! You explain it so well, I understood my first go round! Thank you!
accountants Dont EXpect Low Earning Rates! I love this hint!! Thank you!
So, the banks are not backwards, they're just telling the consumer what THEIR books say or indicate. This is the best explanation yet.
finally! someone cleared the difference of debit /credit in accounting with the debit/credit in banking. nice video. LOVE!!
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.
9:07 " do the general rules of accounting not apply to them" .... your best quote to date
Debits and credits are so important to learn the basics Accounting. Thanks for the content
Tysm to clear this in depth
The Atm bank card part had always confused me while learning accounts, now you've cleared it đ
After searching for countless similar topics on CZcams, it is the most straightforward and logical explanation for debit and credit in accounting. Professional, no drama expression like some CZcams production, understandable speech speed and intonation.
Totally agree
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.
Wonderfully explained at the right pace. Your delivery is awesome.
Finally a video that I 110% understand. Thank you for being so clear!
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 have seen many CZcams 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
Excellent video. Really easy to follow, and the on-screen visuals aided my understanding immensely. Thank you!
This is a great refresher for someone who took accounting a long time ago, thank you!
You're very welcome!
the last 1 minute solved the confusion i had from the past whole day i.e my first accounting class thank you soo much!!!!!
Leila, you are the definition of genius: uncomplicated.
Thank you Leila. This has been very helpful for an absolute beginner. I starting to believe you CAN teach an old dog new tricks.
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.
Thank you for explaining debit/credit from the bank perspective vs ours. Very helpful! You unconfused me! Marvelous!
You are so welcome!
Account Don't EXpect Low Earning Rates !! Very imformative wording â€ïž You are always best!
Somehow we have to remember it :)
thank you so much ! honestly the first video that accurately explained and answered every question i had.
You're very welcome!
The best video I have watched on this topic!
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.
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!
Hi Leila, this was explained really well, Iâve took an interest in accounting and learning the basics, I can now memorise ADEX LER Just after watching this video.
Thank you for your good presentation of accounting lessons especially debit and credit methods.
Awesome video Leila. Thank you!
Finally! Thank you so much for explaining why credit and debit is the opposite of what it actually means to most of us.
These videos are very helpful thank you for making these.
This was a very clear explanation of a concept that I was having trouble with. Thanks!!
Glad it helped Vanessa!
Thank you for your clear explanations!
Thanks for this video, really needed to refresh my memory about this đč
truly fruitful, what a way to explain things !!
Thank you so much Ms. Leila waiting for more.
There will be more Ismail :)
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.
Extra thanks for clearing up the credit card-debit card confusion!
Thanks for so useful video, clear and direct. YouÂŽre great Leila. Greetengs from Mexico
Solid example. Thank you!
Good explanation of the debits/credits from the bank's perspective.
Much better explanation than other channels
Thank you Leila for this wonderful explanation.
Thank you.This was reallly really helpful.â€
Thank you so much for this video you got me back up to speed in my principles of accounting course!
Glad it was helpful!
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 đđŻ
Thank you Leila for such a amazing video
Explain well and in a very professional way. Thanks!!
Glad you enjoyed it!
Very informative, thank you đ
Thank you for your videos! Our favorite teacher! Thank you
Wow, thank you Nelson!
Extremely helpful. Bless you!
Thank you. It was very explained.
Thanks for the nice explanations. Your good in accounts
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.
I don't even use Excel, I just watch because she is so sweet, beautiful, and a genuine CZcamsr! â€ïž
Yay! Leila hearted my comment! đ
You are beautiful too.
She's so sweet, beautiful And a genius CZcamsr đâ€
Daim you exlapined it soo goood.Loved it.
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 the Debit card explanation. This really helps me to explain what is happening in our account. Thanks.
Happy to help!
Thank you for the very informative video. It has helped me a lot.
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.
I love your explanations....please consider preparing a good chart of accounts & Trial Balance.Thank you
Wow what a good explanation.. especially at the end.
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.
Beautifully presented
Thank you for this amazing video. It helped me understand the concept though I am not accountant.
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!
I have loved the point of view part. Resolves the confusion. Thanks a lot
Glad it was helpful!
thank you for the upload. Very Helpful.
Thanks for explaining the banking side of it. Makes sense now
Glad it's helpful.
An excellent video, thank you very much.
Thank you so much for this video.
wow thanx. Cristal Clear.the Bank part in particular
thank you so much.......great insight
So helpful, Leila. We are beginning Quickbooks! Thank you :)
You're so welcome, Alana!
Great teaching right here!!
Excellent excellent.. đ„ đ đ€
Keep on sharing.. Very well presentation
Great way to remember.
Beautiful explanation. ..the video is a good example of clarity ..brevity and accuracy. ..well done lady
Glad you like it!
Perfect! â„ïž
Thank you so much... I never came across such a wonderful explanation....
Glad you liked it!
You are just too awesome. Thanks a lot
thank you for the lesson
this is so clear, as it was puzzling me at first. thanks.
Great to hear!
So clear !!!!!! Thank u :)
Amazing explaining of accounting principles...
Thnx alot...!
My pleasure. Glad you like it.
Thank you for this! Now everything falls into place. THank you for the aha moment.
You're so welcome!
this is so helpful thank you very much