GENERAL LEDGER: Visual Guide to Posting Journals

[@AccountingStuff]

Hey there, it's been a while!! Ledgers confused me for a long time when I started out in accounting. I hope you find this explanation helpful. If you have any suggestions for future vids then please let me know :) ⏱️TIMESTAMPS 00:00 - Intro 00:08 - General Ledger Definition 00:25 - History of General Ledger 01:19 - Ledger Definition (Old) 01:28 - Types of Ledger (General Ledger vs Subledger) 02:04 - Ledger Definition (New) 02:13 - General Ledger Definition (New) 02:22 - Channel Memberships 02:43 - EXAMPLE 1: MANUAL JOURNAL ENTRIES 05:46 - EXAMPLE 2: AUTOMATIC JOURNAL ENTRIES & SUBLEDGERS 09:03 - Outro

[@mapl3af]

Could you talk about your work experience and what you liked / disliked the most about your work? (Auditor, industry, public accounting etc)

[@AccountingStuff]

@@mapl3af Thanks for your suggestion!

[@mapl3af]

@@AccountingStuff no problem! It's always refreshing to see a channel related to accounting. I'm a student and I'm always looking for new resources :)

[@biLLisboredmlg]

Would love to see a video about accounts receivable, notes receivable, bad debt expense, the allowance method and direct method. Or maybe one about financial fraud as well ;) Love the channel btw

[@AccountingStuff]

@@biLLisboredmlg Thanks for all your suggestions!

[@muradmuradov8895]

A cute girl in my class recommended you thanks to her and You, I managed to pass my exam after failing.Great job keep up the good work man!

[@AccountingStuff]

Congrats on passing! That's awesome news :)

[@nightking9435]

Marry the girl, then make Accounting Stuff the best man.

[@muradmuradov8895]

That's the plan then. Wish me luck 😃

[@abdunabinurmatov1162]

@@muradmuradov8895 u study at wiut?

[@muradmuradov8895]

@@abdunabinurmatov1162 If you're asking am I studying in Taskent, no But in IMC

[@TheOriginalNikkiSerenity]

Thank you so much for the visual. People forget we retain 20% of what we hear and 60% of what we see. I appreciate you

[@aysha111]

YOU HAVE HELPED ME SO MUCH, please do carry on with advanced accounting stuff✌🏽 I’ve officially understood the diminishing balance, straight line and your visual start helps alot. Thank you

[@AccountingStuff]

Thanks Aysha and cheers for your suggestion!

[@kwonjihoon2270]

I feel like I've been enlightened to new learning when it's supposed to be a review for me. I am really thankful that you upload very informative accounting stuff. This is a really big help to me since I am studying accountancy again after 9 years.

[@AccountingStuff]

No problem, all the best with your studies!

[@mdh3855]

8:37 I am a Functional Consultant for an ERP, and I love the way you made it crystal clear how the entries affect the ledgers, sub-ledgers and the GL

[@AccountingStuff]

Thanks, glad you enjoyed it!

[@tomstanely]

Oh my god. I finally understand the difference between an account and a ledger, and also a subledger and the general ledger. The accounting software automates this so much that it's so hard to grasp this. All other videos explain the differences without considering the fact that we use software these days. But I love how you explained it to us, who don't use "books" and instead use software to keep records.

[@AccountingStuff]

Thanks! Honestly this topic used to confuse me so much as well. Glad it's making sense for you :)

[@HectorGarciaCPA]

Brilliant stuff man.

[@AccountingStuff]

Cheers Hector!

[@jewris.art11]

Welcome future accountants 😇

[@MK8_KIDD]

What about the CPF people? CPF=cramp pass forget

[@zoharizwan1129]

i just started and i am definetly not enjoying the general ledgers lol

[@user-zi2ry9ik1i]

Shit career option unless you are corrupt

[@HighwayToOblivion1]

Nah after this year I'm dropping it now it's getting hard

[@scarlettnatalia]

Hiiii

[@iliveitup7418]

Thanks mate. I am doing a MBA and have zero accounting background. These videos are helping me more than any other accounting handbook out there. Cheers!

[@1986Unlimited]

This is a great channel. Your visuals and graphical transitions added into the videos really help a visual learner like me, understand things much more easily. For example, those graphical transitions from the Journal Entry into the Subledgers and into the General Ledger makes that difference. It compliments your already great explanations. Thanks so much. Cheers from Canada

[@garethwright9820]

I'm just starting my AAT Level 2 course from a standing start in regards to accounts knowledge and I'm finding your videos so helpful! I love your teaching style - everything is clear and concise, and I like how you avoid going off on a tangent by recommending other videos if something isn't making sense. What a great revision tool. Thanks so much!

[@AccountingStuff]

Thanks Gareth, all the best in your studies!!

[@garethwright9820]

@@AccountingStuff Cheers, James! I got my result back for lvl2 this morning, and I passed with a distinction with 96% for the whole course! 😁

[@jackmarkwell1713]

Such a helpful content creator bought his cheat sheet and I don't regret it one bit, all I want to say is thanks bro keep up this top tier content.

[@AccountingStuff]

Thanks Jack! That's great to hear. All the best :)

[@joshpampers]

I'm doing a MSc and this is helping lots bro, really appreciate your work. I need to buy you a beer.

[@AccountingStuff]

All good Joshua, glad you're finding these useful. Best of luck with your MSc!

[@sadafchowdhury2885]

I had an exam on general ledger tomorrow! Omg you're a life saver James! Thank you for making these cool videos!

[@AccountingStuff]

Best of luck in your exam! Let me know how it goes :)

[@brandongood5401]

Definitely should make a video about bad debt! That would be really awesome!

[@AccountingStuff]

Cheers for your suggestion :)

[@tomstanely]

@@AccountingStuff And provision for doubtful debt too :D

[@johnathanvanderschyff3513]

This is the thing I struggled the most with during class because it never really made sense until now. Thanks for making it easy and simple to understand! I wish that I had searched this before I started Grade 9.

[@TheRadRingo]

"And then they had THE PRECIOUS" had to pause for a minute to stop laughing. Great videos James, you have basically taught me financial accounting over 2 years with these videos.

[@AccountingStuff]

Haha, glad you enjoyed the Gollum reference! All the best with your studies :)

[@44godson]

This clarified the process a lot simpler than in my textbook. I will have to review a few times just so I can encapsulate the process and have no questions. Thank you

[@danielagonzalez17]

The lady that used to do this at my job left. Now I'm doing it and learning with no accounting background what so ever. And here I am. Thankyou!!!!

[@AccountingStuff]

Ouch! That's a tough situation to be in. Best of luck with it

[@terri0075]

You are a star. No, you are the brightest star💥. You don't take anything for granted which is definitely what I need as a Systems Engineer learning Accounting

[@AccountingStuff]

Glad you found it useful :)

[@garyshaeffer5349]

I'm not even in college anymore or even an accountant, but I love watching your videos and staying fresh with these principles. Thank you!

[@AccountingStuff]

Good on you!

[@user-nn1gr3bo6t]

Wow, all of your videos are so easy to understand, and very interesting to watch. Thanks to you i understand accounting even better. Keep up on your work🥳

[@AccountingStuff]

Thanks, great to hear you're finding the channel useful!

[@itx_shayyna559]

No words man!! I have started accounting and found your channel...these videos are simply amazing...entertaining as well as informative...You are a LegenD.. a big round of applause and appreciation for you👏👏👏👏👏

[@AccountingStuff]

Thanks! Glad you're finding these helpful. All the best with your studies :)

[@itx_shayyna559]

@@AccountingStuff I have started mY own accounting channel now...In Urdu❤

[@qww760]

Fantastic video! You make accounting simple. I have learned more from your videos than all the classes I took in college.

[@AccountingStuff]

Thanks buddy! Hope your studies are going well :)

[@amh9738]

You are the best utube channel for accounting what brilliant way to explain topics that many would not think they can understand them

[@AccountingStuff]

Thanks for your kind words!

[@marcusc4476]

I just have to say. I genuinely love the fake business names. "I Want To Hold Your Udder" just took it to another level. Also fantastic work you are doing to explain these accounting principles!

[@AccountingStuff]

Thanks, great to hear you enjoyed it!

[@StevesterLi]

I am just soo glad I found your channel. a few videos in and the help is already greater than all other channels combined. You are doing god's work. thank you so much

[@AccountingStuff]

Cheers Steve, I'm glad you're finding them helpful. All the best!

[@ourlittleworld7064]

I have been breaking my head on Finance and specifically General Ledger and ur video made it easy like a cake walk........ Thanks a tone!!!!!!! Bless u :p

[@AccountingStuff]

No problem, glad it's making sense! This topic confused me for so long

[@phantom4703]

You've got better video quality and content than channels with millions of subscribers - Keep going and you'll be there in no time!

[@AccountingStuff]

Thanks for your kind words :)

[@lifezungu6943]

Ever since I found this page I’ve been getting 90’s on my accounting tests 🙏🏾🙏🏾bigs ups brvh 🔥🔥🔥

[@AccountingStuff]

Nice one! That's awesome to hear :)

[@hecgar1016]

certainly on youtube is where you find the best education, thanks for your help!

[@habeebbabatunde817]

Simple, easy to understand and follow through. Good work👍👍👍

[@AccountingStuff]

Thanks!

[@shivaniarunkumar1248]

I love your videos a lot.. they've helped me understand .. if only our teachers at school taught like this.. Anyway, YOU are a LEGEND ✨

[@AccountingStuff]

Thanks for your kind words. Hope your studies are going well :)

[@UnknownMFe]

These are really fun to watch and they actually help with my studies too. I'm treating this like a new series to binge haha :)

[@AccountingStuff]

Thanks, glad you're enjoying them

[@anushkasharma4852]

Just write your own Accounting book, I'll read that okayyyyyyyyyy!!!!!!!!!!!!!! PS: Please cover other aspects of corporate accounting. I would really really love to watch your content on that.

[@AccountingStuff]

Perhaps someday! Cheers for your request

[@fadiajouli4779]

Hi James, thank you for your videos, I'm about to start my accounting course and searching KZbin I found your videos among the best that I have watched so far, very clear approach. big thumbs up!!

[@AccountingStuff]

Best of luck in your course!

[@JS-pm2gn]

Thank you soo much for these! I'm watching these videos and understanding sooo much more than I am in my accounting class!

[@AccountingStuff]

That's great to hear! All the best :)

[@OneGamblor]

I am using your videos to help prepare for a job that I am totally under qualified for and it’s helping a lot 😂 thanks a bunch! Have you ever considered a job in marketing? The names of your companies are brilliant.

[@barrygriffies459]

Watching all your videos to prep for an interviews. You’re the man

[@AccountingStuff]

Best of luck in your interviews :)

[@barrygriffies459]

@@AccountingStuff it went well and I’ve moved onto phase 2 where I meet with the controller of the company next! I have an accounting degree but been doing more billing more so I will be watching all your videos to refresh my brain!

[@AccountingStuff]

Nice one! Fingers crossed 🤞@@barrygriffies459

[@italopessoacontador]

I’m Brazilian and I appreciate your video’s Chanel

[@Abecenna]

James thanks a lot, tomorrow is my accounting quiz. Here I had a much better time getting my head around it than ever before.

[@AccountingStuff]

How did it go?

[@Abecenna]

@@AccountingStuff 14/15😇thanks again

[@AccountingStuff]

@@Abecenna Congrats!!!

[@jaretwilliams2564]

Keep posting these great videos! I'm taking my first accounting class this semester and found your channel

[@AccountingStuff]

Will do! Best of luck with your classes

[@tehilacastro2230]

thank God I found u love the way u transfer and relate the different accounting methods

[@fahadibrahim8575]

Very helpful videos man!! Really appreciate it I have learnt soo much from you My accounting job starts from tomorrow so i am ready thanks to you :)

[@AccountingStuff]

Congrats on landing you new job! Hope it goes well :)

[@loveless0729]

Your videos have been an absolute life saver the last few weeks!! thank you!

[@AccountingStuff]

Cheers Taylor, glad you're finding them helpful!

[@daarkthunderr]

thanks so much .please dont stop .your way in explaining things is so amazing

[@AccountingStuff]

Thanks! I plan to release many more of these :)

[@naveenkgeorge2000]

Your editing and visual presentation is mind-blowing

[@AccountingStuff]

Cheers Naveen!

[@bl8596]

This channel just keeps on giving! Thank you James!

[@AccountingStuff]

You're most welcome :)

[@wovarino]

these videos have taught me more than my teacher

[@AccountingStuff]

Glad you're finding them helpful :)

[@christineliberty1900]

This is SOOOOO helpful! A million thanks!🤩

[@AccountingStuff]

You're very welcome :)

[@ranchoraccolto]

finally understanding accounting and English is not even my first language. but it's great that therms and definitions very well explained..

[@AccountingStuff]

Glad it's making sense!

[@thesyedhouse1981]

hey thankyou i under stand more from you than my teacher

[@dwanejohnson3772]

I'm a 14 year old who is trying to be financially literate so that I can be financially independent someday. I'm still confused as to what the purpose of accounting is. Could everyday people find benefit from it? Or just business owners? lol

[@charr007]

Accounting and bookkeeping is a superpower for every young student, young jobseeker!

[@AccountingStuff]

Good on you for taking an interest in this at 14! Business owners / Entrepreneurs / Investors are the ones that need to know it the most. If you want to become Financially Literate then I'd recommend starting with Personal Finance books. I can recommend 'Millionaire Teacher'

[@tomstanely]

Accounting is a way of keeping business financial records. The reason why it's a whole big subject is because of the need for different businesses to keep records in a similar way, and a need for a business to be consistent in the way they keep financial records. So we all have to follow the same type of standards. This is mostly so that governments (to know if they can introduce more taxes or reduce taxes) , banks (to know if they can give you a loan instead of another business) , investors (to know if they should put money into your business instead of another business) and other people who are "outside" the business can compare different businesses when making decisions. And also so that they can identify trends when comparing a business's financial performance or financial position from year to year. Being financially literate is different. As James mentioned, start by learning about Personal Finance.

[@babblesp1367]

Accounts Payable is the person that pays the company’s bills. Accounts Receivable is the person that sends the bills out and collects the money coming into the company. A person who does Payroll is the person who makes sure that everybody working for the company gets paid. A Controller is the supervisor of those people and they are the ones who ensure everything is being done correctly and are also in charge of all financial statements such as your income statement, balance sheet, and statement of owner’s equity.

[@garrom5652]

Good on you lil bro 👍

[@AnakinNightWalker465]

Sir, you are AMAZING! I appreciate every second of your videos.

[@AccountingStuff]

Thanks for your kind words!

[@jayzee2634]

Top tier video man!

[@AccountingStuff]

Thank you :)

[@JacksonC-8000]

Thank you for the Beatles puns. It makes learning accounting much easier so I don't cry instead.

[@AccountingStuff]

Thanks, glad you enjoyed it!

[@peterdavila3045]

At 6:39 in the video, the "I Want To Hold Your Udder" account. That was great. Just for that, you get 2 thumbs up. One thumb for great videos and the other for the cow.

[@Ivan-qy4lm]

I learnt more with this 10 minute video than in many classes

[@AccountingStuff]

Thanks, I'm glad you found it useful!

[@omarriaz3187]

So good to see you back buddy. I was just going to comment on a few posts, asking for a comeback but its happened on it's own. Brilliant xD Hopefully have a lot in store for us now😛 Only way we can pass haha

[@AccountingStuff]

Cheers Omar, I appreciate your support! I have plenty of new videos in the pipeline :)

[@jeandamourmusic5782]

i follow you here in ZAMBIA, SOUTHERN AFRICA

[@talaw690]

whenever i get lost in studying, i come here ! thank you for sharing your knowledge .

[@AccountingStuff]

No problem!

[@nikkiau1]

Do you do your own editing? I love how you teach in telling a story and giving realistic examples! 👍🏽👍🏽👍🏽👍🏽👍🏽

[@s.marsaiah]

Thanks bro, i have an economics management sciences exam tomorrow

[@AccountingStuff]

Good luck!!

[@holtspunk6202]

Thanks for this sooo much its gonna help me 😁love from a 10th grader (from south africa)

[@AccountingStuff]

No problem! All the best :)

[@alwells99]

Please do a video on best practices for naming digital source files such as electronic receipts to quickly find if audited

[@oybekdavronov5638]

thank you brother making it clear, uni does teach like you, easy plain

[@edoceruti6314]

James you are saving me thank you vary much!! It is a pleasure to watch your videos! Keep going! You are great ! Like to support!!

[@AccountingStuff]

Cheers for your kind words!

[@aldrinarmstrongeusebio5201]

THANK YOU. MAY THE UNIVERSE BLESS YOU. SUBSCRIBED AS A THANK YOU!

[@Christina-fc7ul]

Very helpful as we are not taught how exactly the accounting software works

[@AccountingStuff]

Glad to hear it!!

[@kahramankasimov3589]

Thank you very much for useful videos

[@AndreaIngham]

good timing. assignment due today

[@AccountingStuff]

Best of luck with it!

[@ndcarrillo84]

You're amazing please don't stop making these vids

[@AccountingStuff]

I plan to make many more :)

[@tishathomas21]

Hi James. Your way of teaching is exceptional. Can you please do a video on tax base when you get a chance

[@AccountingStuff]

Hey Tisha, thanks for your suggestion!

[@kittyzhang2336]

Really help! Thanks!

[@aklilugb6412]

Keep shining all over us bro. I like you.

[@marcing7192]

Great video, greetings from Poland

[@AccountingStuff]

Thanks Marcin!

[@KA-oi4yf]

Thanks a ton sir! Respect from India🔥🌻

[@blackiebinno]

We appreciate you so much.❤❤❤

[@AccountingStuff]

Thanks, glad you're finding the channel useful :)

[@KyoheiYoshida]

I devoured all of your content in two days... Helped me tons. Would you elaborate on CapEx pleaese?

[@KyoheiYoshida]

Also, I'm so confused on deferred income taxes.

[@AccountingStuff]

Cheers for your suggestions!

[@qiaochuhan9738]

you explain this clearer than my prof lol

[@AccountingStuff]

Cheers, glad you found it useful :)

[@tigerlils3910]

Yep...I can see why I failed my cpa exams now. I never really understood accounting enough to explain the basics in simple terms like you do. I understood it enough just to pass my college exams. Wow 😅 I wish I had discovered your channel a year ago before I spent thousands of dollars on Becker, just to have them tell me to underline and circle a bunch of stuff. 😭 (PS: thank you for making these videos! They're incredibly helpful. Never had ANY professor explain accounting as well as you do. And make it fun!) Also, quick question about the channel membership: is it similar to a Patreon? Where more content is available for members only? Thanks! x

[@AccountingStuff]

Thanks for your kind words! Do you get a chance to resit your cpa? The channel membership is a way for viewers to support the channel. It's similar to Patreon but hosted by KZbin. Currently I put out all of my content for free so don't feel obliged to sign up

[@brunabraz5853]

You rock James ! Thanks for all !

[@laurenfino6686]

you literally saved my life

[@stephenjohnmillara5753]

Your video is very helpful!!

[@AccountingStuff]

Thanks!

[@JenniferEmelia01]

Thank you so much great explanation

[@AccountingStuff]

No problem, hope it made some sense

[@cloudnationmedia8326]

This is awesome!

[@charr007]

Bravo! Keep up the hard work! Greetings from the Atlantic ocean!

[@AccountingStuff]

Cheers Harry, will do!

[@merry6362]

Most of examples are The Beatle's stuff, I've learned and enjoy as well, my minds are singin'

[@pradhiilshak3537]

Thanks for the stuff I really got an understanding of GL clearly

[@AccountingStuff]

Nice one! Glad it's making sense :)

[@ayamoukadem21]

amazing explanation

[@AccountingStuff]

Thanks!

[@ZarahSadruddinNanji]

Love it James! Thank you for making these awesome videos!!!

[@ay_beats]

This given me a good overall understanding on general ledger thanks 🙏🏽

[@AccountingStuff]

That's great to hear!

[@julianaelizaprovido6633]

Are T-Accounts and Ledger accounts the same thing? Watching your vids are helping me so much I'm very nervous with the upcoming midterms this is giving hope I'd pass

[@rickschreuder8848]

Hi accounting stuff! I have gotten much knowledge from your vids especially for my exam bit it seems you post a lot about FA(Financial Acounting) is there any chance you will go in depth about MA(Managerial Acounting). Thess 2 are usually the 2 main topics in an accounting course and would therefore be very nice to include in your list!

[@AccountingStuff]

Hey Rick, cheers for your suggestion. I do plan to cover Management Accounting at some point but I wanted to get through all the Financial Accounting basics first

[@marinechapssemperfiout9939]

Outstanding!

[@ah-chakhan682]

Could you do a video on asset register how you would develop and maintain one and what would be included in one.

[@AdityaSingh-fn6cu]

Please make a video on interpretations of ratio analysis. Really appreciate your efforts mate. keep doing the good work. Cheers

[@AccountingStuff]

Hey Aditya, thanks for your suggestion!

[@saqibrahman1016]

Excellent Sir!

[@AccountingStuff]

Thanks Saqib!

[@justahumanwithamask4089]

Finally got this on my 2 rewatch.

[@AccountingStuff]

Glad it's making sense!