T Accounts Explained SIMPLY (With 5 Examples)

[@AccountingStuff]

Thanks for watching! Please let me know if you have any video requests :) 🔗USEFUL LINKS ▪T-Account Cheat Sheet → accountingstuff.com/shop/t-accounts-cheat-sheet ▪Free T-Account Quiz → accountingstuff.com/blog/t-account-quiz ▪T-Account Practice Questions → accountingstuff.com/practice-questions/t-account-question-pack-1 ⏱TIMESTAMPS 00:00 - Intro 01:03 - What is an Account? 01:13 - What is a T-Account? 01:35 - What is the General Ledger? 01:43 - What does a T-Account look like? 02:07 - Simple way to remember Debits and Credits 02:35 - How does a T-Account work? 03:59 - Why do we use T-Accounts? 04:30 - What is Double-Entry Bookkeeping? 05:12 - T-Account Examples and Solutions 10:04 - Recap

[@MohammedAsif-p4j]

why new supplies are being on credit side? new supplies is an asset account when there is increase in an asset we debit the account i can see bill payment is a liability an increase in liability we will credit why not same for new supplies? why don't we debit the account ?

[@makaylajelley2268]

You literally explained what I needed to learn in my 3.5 hr accounting class in simply 11 mins 😭 I need your channel! Definitely subscribing !!🤓

[@AccountingStuff]

Thanks Makayla and cheers for the sub! Good luck in your Accounting class!

[@ultralegendarybeast101]

@@AccountingStuff :)) Greatness!!

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Two years later, and people still have the same situation

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THIS IS THE FIRST TIME IVE ENJOYED ACCOUNTING. OMG!

[@AccountingStuff]

Haha, it's actually possible!

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My online course teacher doesn't go into full detail so this is really helpful

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[@AccountingStuff]

Haha, that's very kind of you!

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My browser automatically skips ads :(

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I didn’t know either, sitting through the ads now lol

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It's better to work and donate to not waste your time. You'd probably have to watch 1000 ads to give him 5$

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Was looking for a quick brush-up on the topic and stumbled across your videos. The sheer quality of production is amazing, you're great at conveying the topics and manage to do it in a very understandable way while still being entertaining. This is definitely a top-tier educational channel in many regards and I can see that you like doing it! I hope your channel blows up, you certainly deserve it. Cheers

[@AccountingStuff]

Hey Wiktor, thanks for the kind words! It's great to hear that you are finding the videos helpful. Cheers for the support, all the best!

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I was struggling myself and asked many for an explanation. Thanks to you and the wonderful way you put it out... Finally getting grasps of this, Definitely assisting my with my GL to complete In an assignment. Loved the Dealer part....

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Quality in yt usually is better than universities, as university lecturers don't need to compete like in yt in quality.

[@siblinggoals5431]

Being a little funny while studying is important,so not to get bored and you've done it.I like your lectures

[@AccountingStuff]

Thanks!

[@aashayjoglekar591]

EXACTLY!!!

[@MH-wu9tx]

I have literally learned more in the space of 11 minutes than I have this whole year of uni. I have my Financial Accounting exam on Tuesday and this has completely cleared it all up for me after struggling with it for so long! Thank you!

[@talosgak1236]

Bruh how have you been 1 year in Uni and not understood this topic. If people like you are my competition University is gonna be a breeze

[@shars104]

Teachers suck at explaining its way easier learning online it's way more efficient school is pointless for some subjects if the school good give me thr syllabus I could just learn the whole thing in a week

[@evanp.687]

Great video and examples! Thank you for not saying "this is a difficult concept" or "lots of people have difficulty with this" but saying that something can be "tricky" instead. Many people highlight the "difficulty" of a concept to the learner and discourage them before they even begin but you didn't, fantastic!

[@AccountingStuff]

Thanks Evan and cheers for the feedback!

[@AccountingStuff]

Do you find T Accounts useful? I still sometimes find myself writing these down from time to time

[@728hannah]

thank you so much :)

[@33fivers]

James, first of let me extend a big thank you for the way you breakdown these accounting topics. It is helping me a great deal with my accounting class. Is it possible that you can do an accounting topic on Reporting and Interpreting Property, Natural Resources and Intangibles.

[@AccountingStuff]

@@728hannah No problem!

[@AccountingStuff]

@@33fivers Hey mate, you are very welcome! Thanks for watching and cheers for the suggestion. I will bear that in mind when making future videos :)

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thanks man great work you got yourself a new subscriber + viewer

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Its unreal this is free, I am learning the same things in a $250 textbook for school. Thanks!

[@nnuyenc4133]

True love his vid

[@BitterMonday]

I can't thank you enough for making this high quality contents free for everyone

[@AccountingStuff]

All good Fadil, hope it helps!

[@ihavenohair1975]

From a SOURCE (credit) to a DESTINATION (debit). I am getting it now, you have a great talent for teaching! Thank you for sharing your knowledge and gift

[@AccountingStuff]

Glad it's making sense!

[@ashawhite1041]

I learn better with analogies and this answered a great question for me.

[@darrenkelly8989]

Hey, I am studying for my university exams in accounting and I genuinely find these videos so helpful I use your videos more than I use my lecture's you have a gift for making this interesting. you're helping a lot of people better themselves thank you so much for this content.

[@AccountingStuff]

Hey Darren, thanks for your feedback! It's great to hear that you're finding the videos helpful. All the best with your uni exams!!

[@jcarr3876]

OMG accounting did not make sense until i saw your videos thanks brother. your awesome

[@AccountingStuff]

No worries Jesus!

[@Cheez3Wagen]

This is exactly what my professor is teaching me. Love Accounting so much!

[@AccountingStuff]

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

[@Bob32328]

BRUH WE’VE BEEN LEARNING THIS FOR WEEKS AND U FINALLY MADE ME UNDERSTAND IT. NO WAYS BRUH

[@AccountingStuff]

Great to hear it's clicking for you!

[@Bob32328]

@@AccountingStuff kinda funny how u taught me more in a quick video than my teacher taught me the whole year 😭

[@julioson50th21]

I have been a bookkeeper for 30 years. I quit my corporate job in February 2021 and started my own business. I took a few months off to gather myself and take a few online classes to refresh my skills. I stated my own bookkeeping business on June 1, 2021. Today, I have two clients have and replaced my income. Work from home. Little stress so much happier. I really appreciate your videos, just found your channel. Very calming, you have a great presentation. And, yes I use T accounts everyday! I like being able to see my entry before I actually post it.

[@AccountingStuff]

Great to hear it's working out! All the best :)

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why this man doesnt have a million subscribers? he is the guru for sure. So many teachers taught me accounting, none of them even close to you !!

[@infinity.1111]

the great part is that by the time you asked "is your head hurting yet?" you had already explained it so well that everything was making perfect sense. Thank you very much, so much easier watching your video that trying to learn this concept from the textbook. I appreciate the help!

[@DC-bq6uh]

THANK YOU. SECOND YEAR BUSINESS ACCOUNTING STUDENT AND I WAS STRUGGLING BUT YOU GAVE ME HOPE OF PASSING ❤️💪🏾🎉

[@AccountingStuff]

Good luck good luck good luck!!!

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I am taking Accounting as an online class, and these videos are SO MUCH MORE HELPFUL than the text and documents provided by the professor.

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[@AccountingStuff]

Thanks buddy! All the best with your studies :)

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This is honestly my favourite youtube channel. I have learned so much within the month i've been watching your videos. I hope you never stop posting about accounting because i'll never stop watching. This channel also single handedly passed me an accounting exam too!!

[@AccountingStuff]

Congrats on passing, that's great to hear!

[@philippabaker9069]

This is great. I'm dyslexic and have spent the past year wading through books with limited success. This has clarified things. What a skill you have for making a complicated and daunting topic understandable and enjoyable! thank you

[@AccountingStuff]

Hey Philippa, I'm dyslexic too! Sometimes it helps to see things visually laid out instead for reading the information

[@yelleks3085]

This 11 minute video explained what Kaplan couldn't in 1000+ pages. Thank you

[@KatTietz]

I'm in a managerial accounting course as part of my MS in Business Information Technology. Balancing a full-time job and a fast-paced accounting course during COVID and it's many challenges has been... difficult. I found this video very helpful, and I have a found your other videos very helpful as well. Keep up the great work!

[@AccountingStuff]

Cheers Kathryn, all the best!

[@GREEN-SILVERSTREAMOFLIGHT]

@@AccountingStuff

[@vanillalatte5227]

I have a bachelor in Economics, Finance, and Banking. This year I completed my MBA with a focus in Business Risk and Finance. Accounting has always been my nemesis. It's like having a love-hate relationship. I've always struggled with understanding the t-accounts. I'm glad I found this channel. Now I feel a lot more confident with accounting. Thank you Mr Accounting Stuff!

[@AccountingStuff]

No problem, all the best!

[@aishausman4261]

I skipped my accounting class actually I was really worried about that lecture but he explained it very well no words explain how helpful it was May God bless this man he is helping so many people

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The DEALER acronym is simple but an amazing tool. Thanks, it helps a lot.

[@AccountingStuff]

Glad you're finding it helpful!

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Bro make more videos like this. It took me whole semester to learn what I could of learn in 11 min.

[@AccountingStuff]

Will do!

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[@AccountingStuff]

Thanks buddy that's kind of you to say!

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THANK YOU! I never comment on videos but I hope you get all the engagement! This series is exceptional and did more to help me in 12 minutes than reading my textbook for an hour did. Very thankful.

[@AccountingStuff]

Thanks Lauren! Great to hear you're finding these helpful

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[@AccountingStuff]

Best of luck!

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I had always wondered what double-entry bookkeeping and this provides a simple explanation and example. Excellent

[@AccountingStuff]

Cheers Adrian :)

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I am at Harvard Business School, and you explained in a short, succinct video what I spent almost 4 hours trying to figure out. Beginning to question my choices. 🤫

[@AccountingStuff]

Glad you found it useful!

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As many before me have said, the format and content you offer here is top notch and I’m just blown away by how much clearer it all is after watching a couple of your videos. My accounting professor is good, but she doesn’t hold a candle to your teaching. I’m excited to get through many more :)

[@AccountingStuff]

Cheers! Great to hear that accounting is clicking for you. All the best with your studies!

[@olugbenrosamuel]

Thank you, James. I learned a great deal in this 11 minutes, 7 seconds tutorial. This is the best explanation I have gotten on Debit and Credit. I have read through the comments below, and none is an exaggeration. They are totally correct.

[@hunterbunter7841]

James, thank you for breaking this down in such a simple way for us non-accounting folks. Great video!

[@AccountingStuff]

Hey Hunter, no worries at all!

[@litlwabit]

I am new to accounting, as in I am taking an Office Accounting course to complete my degree in Professional Office Management. I am finding myself fascinated by your presentations. Thank you for making this seem easier than it appeared when I looked at my online accounting course materials (they are quite daunting). I will be watching the rest of the videos in your series to make sure I don't miss a single, extremely valuable piece of information! Cheers!

[@AccountingStuff]

No worries, best of luck in your course!

[@thebluefrog951]

I got the T-Account exercise 100% right on first try! Thank you for your videos. You are making this stuff so much easier to learn than anything in my class.

[@AccountingStuff]

Nice one!! Great to hear the you smashed the examples!

[@KathleenKoshman]

These videos are helping me so much as a beginner who relies on computer programs to think for me who is now taking an accounting class!!!

[@jokerlaughsfirst8776]

I'm not an accountant. I do not use these every day. I'm a college student who's struggling hard with the first couple weeks of financial accounting. Your videos are c more concise, better edited, and higher quality than the videos my multimillion dollar university creates. I kid you not they use an actual potato to record the audio. Thanks man. I will use the power of accounting with great responsibility

[@chrisolunga6628]

I have an accounting exam tomorrow and I stumbled across your videos. I genuinely thank you for helping me understand what I've been trying to get from my lectures in just a few minutes of watching your videos

[@Oldag75]

I strongly recommend employing T-account visual analysis from the very beginning when learning accounting. And continuing that practice for the following, oh, 45 years of closing the books.

[@gutterhog1694]

I've an accounting paper in 3hrs. Thx man, this is going to help a lot😭. I suck at T-accounts. No joke I got 2 marks for it in the last exam...

[@Random-if8mz]

u helped me get A* in igcse

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Well im a highschool student and math isnt really my thing. I wanted to learn some accounting and was lucky to stumble accross this chanel. I understand everything your teaching! Hell man i understand you better than most teachers ive had!

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Best accounting channel on KZbin

[@AccountingStuff]

Thanks Maria! 🙏

[@peonyteeny]

I wish i had this content when i took accounting 7 years ago. now im going back to community college after 3 years in the workforce and part of a masters program... just to become an accountant!

[@AccountingStuff]

Best of luck in your studies!

[@shivangijoshi8803]

My 1st ever accounting tutorial online, and I've found the best channel that explains the ACCOUNTING STUFF so easily! Also, I love your deep blue eyes! Also I loved the way you actually had tea in between. haha. keep up the good work and thanks for making accounts so easy and fun for non-math background people like me! Lots of Love from INDIA.

[@AccountingStuff]

Thanks Shivangi!

[@freddielo4330]

I majored in materials science and engineering, And I now starts my music production business, and start learning accounting for the first time. This is the only level I can understand. Thank you for making these basic videos, all of these are foreign concepts for me, and visualizing in this way is really helpful.

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its so Catchy and precise. After my exam, I am sending you a Glass Cleaner

[@AccountingStuff]

Haha, just what I've been looking for! Good luck with your exam!!

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I worked with different software quick book and AME old software accounting. Now I have to start my own book keeping so started looking You tube , I am also working with google sheet your video helped me.Thank you.

[@AccountingStuff]

No worries, best of luck with it all!

[@lindaoulton7549]

James!!! I love your videos. I'm a tutor and keeping those students awake and excited can be tricky but the enthusiasm, quality of production and clearness of explanation in your videos is excellent. I'm so glad I've found your channel and I'll be using and promoting it whereever I can.

[@AccountingStuff]

Thanks Linda, that would be much appreciated! It's great to hear that you are enjoying the videos.

[@JasonSmith-xl9wd]

I have watched about a dozen of your videos, and I want to say thank you. These are all well-produced, time-saving, and informative, not to mention a little funny. Keep up the great work!

[@ZSD123ABC]

the production quality is to good for the subject

[@AccountingStuff]

Thanks Sam!

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@@AccountingStuff way

[@s4motivationalsgroup188]

Way

[@AudreyPerry]

I have my first accounting job interview this week and I'm back watching your videos to ease my anxiety! Lol!

[@rajisubramanium7342]

Thank you James. You have made it so simple that even a person like me with no accounting background could understand so well. Excellent job done !!!!

[@AccountingStuff]

No worries Raji, great to hear it's making sense!

[@soulcake76]

Dude, now I totally get T accounts-you made it so easy to understand! This will be my 3rd attempt to pass accounting and now I’m confident! Thank you!

[@AccountingStuff]

I believe in you! Good luck!!

[@rlc529]

I have a 2 hr and 45 min accounting class and I’ve learned more here than in that class the whole semester😭

[@GunturNDN]

I does not have an accounting degree but today, after I watch all of your videos, I am confident enough to apply as an accountant in LinkedIn lol :D . Cheers from Indonesia !!

[@AccountingStuff]

Best of luck with your job hunt!

[@mdf3605]

u were sent from heaven to make mortals like me- understand finance easily. "Saint" Accounting Stuff- thank you for existing!

[@AccountingStuff]

Thanks buddy :)

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Super curious about the accounting hopefully I can enhance my knowledge in watching you're vedeo❤❤ from Philippines 😊😊

[@TheMandolinn222]

I'm so glad I found you. I'm SO confused by accounting and I have to pass this course in order to fulfill my Graduate degree in Environmental Sciences. You make things really easy to understand and enjoyable to learn about, thank you so much. I'm still really unclear however; on why debits & credits in the T-account and otherwise mean what they do - it seems counter-intuitive to call an asset a debit, and call a liability a credit, when I'm credited money back into my account, it means I am getting money back, but when I use my debit card to purchase something, I'm less that amount of money, why is it opposite in accounting? Should I just try and make sure I am recording opposite of what my intuition says? ahhh I feel so confused.

[@AccountingStuff]

I used to get confused by this as well! I'd recommend watching this to clear things up... kzbin.info/www/bejne/mpXFZ2iIqsl6n5I

[@janywill-cc7jc]

You just saved my P.O.A grade😭😭😭😭💖💖💖💖💖💖💖💖💖💖 TYY SO MUCH

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5 years of being confused in accounting is all cleared up in 11 minutes.... i dont know whether to be happy or sad lolllll

[@JH-xg1fh]

D+E+A=L+E+R is a game changer. Seriously helpful stuff. Thank you.

[@AccountingStuff]

Cheers Joe, may DEALER serve you well!

[@benjaminvalenciano9012]

Hey this was the first thing I learned freshman year in high school. Neat

[@AccountingStuff]

Thanks Benjamin!

[@mitchellmitchell6938]

Damn. Good stuff! What kind of high school did you go to??

[@AccountingStuff]

Thanks Uilium

[@ponnarasukrish9318]

I have searched and seen so many videos on understanding debit and credit... This was the best. This doesn't stop at asking the viewers to remember the golden rules , but clearly explains the basics of those rules... The quirkiness of the video makes learning fun. Much appreciated. More power to you

[@AccountingStuff]

Thanks Ponnarasu, I'm happy you enjoyed it!

[@mhm1672]

Keep it up bro! I enjoyed watching every minute of this video, plus it actually helped. And yes T-Accounts are very useful in my opinion, cz I am studying for my FAR CPA exam and as I noticed, complicated questions can't be solved without mastering the basics of accounting such as T-Accounts and debits and credits. It really simplifies things and makes it easier to understand and answer correctly.

[@AccountingStuff]

Cheers, it's great to hear that you enjoyed the video. Yes, T-Accounts are so helpful!

[@kwonsunghun420]

I had to skip my university for 2 years due to the military and your videos really helped me catch up to my class. Thanks a lot!

[@AccountingStuff]

No problem :)

[@emmyayt]

😭 Your channel really did save me for my accounting class, I was so confused but I have a bit of a handle now thanks to these vids.

[@AccountingStuff]

Best of luck with it!

[@의자에된장국쏟음]

I am studying accounting in South Korea. I've been taking one video a day since July 1, 2020. I like this video because I can study English and accounting together. Thank you James for providing us with a good video.

[@AccountingStuff]

No worries, I'm happy to help!

[@MaritaHughes]

I'm going to school for business. I was struggling to understand this with the material my professor gave me. Thanks to Accounting Stuff I may pass my accounting classes this summer. You should write a textbook for McGraw-Hill.

[@AccountingStuff]

Best of luck with it all!!

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I don't know what I would do without you

[@melindavives5826]

Make a video about contra accounts. Love your video! You teach it better than any professor I had.

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You gave me the real idea of accounting!!

[@AccountingStuff]

Glad to hear it!

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I am preparing for my Financial Accounting Final Exam and I cannot begin to tell you how much better this is than my professor.

[@amaljeeson3786]

Eagerly waiting for your next video.....

[@AccountingStuff]

It will be up shortly :)

[@Jason-fp2qm]

Cant believe how well spoken this guy is. Genuinely enjoying these explanations as they are broken down so nicely. This channel is going to be the reason why I pass my course. fair play mate & thank you

[@AccountingStuff]

Cheers Jason, I hope you smash your course!

[@GREEN-SILVERSTREAMOFLIGHT]

@@AccountingStuff 😜

[@nicolaigamesftw693]

😲 You are very helpful and i would like to thank you for your knowledge I hope you succeed in your dreams because you really helped me build mine. Cheers 👍😌

[@AccountingStuff]

No worries Nicolai, glad I could help! All the best!!

[@abrahamillescas8989]

I'm a fresh beginner accounting student, this surely will help me a lot during my preparation summarizing all the crucial information while I'm studying rather than read thoroghly extensive passages in thick books, cheers

[@nancyseruya7792]

his voice is so upbeat that i am actually starting to understand

[@AccountingStuff]

Glad it's starting to click for you. All the best!

[@kimgodlewski6606]

This was, again, very helpful. I think that after watching and with your DEALER trick I have a way to figure out whether to debit or credit something, BUT now my issue is figuring out what both sides of the double entry should be. Sometimes I can't figure out the other account to log the item in and why. I guess that will come as I learn what happens with each transaction. I'm hoping sooner than later. I have the feeling I'll get it well just about the time I'm done with the course. lol

[@sethers775]

I basically tossed out my textbook and binged these to get through my accounting class.

[@nox8194]

I was a business administration student and I was having a hard time understanding our module but then this channel pop out of my notifications. This is very helpful legit. I understand it clearly, it has a brief definition but on the point. Thankyou sir 😊💚

[@AccountingStuff]

Thanks and all the best!

[@travelwithrishi7121]

Thank you for this amazing video; as a high school student starting my undergrad studies in finance, this has really helped me a lot. However, I have a question, with regards to @8:29 when you credited $50 to the accounts payable account, can we not combine it with the loans payable account and simply call them Liability account? Because either way it is still being credited with $50 so all in all, the $200 and $50 are still on the right side of the 'Liability' account. Doing this way will reduce the number of accounts and thus make it less messy. Hope my query makes sense haha

[@AccountingStuff]

Cheers, I'm glad you found this useful! To answer your question... we keep Accounts Payable & Loans Payable separate because they contain different types of transactions. Whilst this may lead to more accounts, it helps to keep things organised. You've got to imagine that big business's contain thousands of different transactions, so it's important to keep things granular

[@mohammadadonn6821]

Man, you explained it so nicely that my colleges' instructor who is a CPA could not explain!! Bravo. She speaks English as second language and so it she could not explain clearly to the students and it does not even bother her.

[@AccountingStuff]

Glad you found it useful!

[@shubhadeepdas7191]

Nice👍👍👍

[@AccountingStuff]

Thanks!

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I wish my school had teachers like you. My teacher is so awful, she is making me hate my major. She spends 3 hours going over a topic without making sense and all it took for me to understand, was a small 11 minute video. You make it seem so simple. I'm totally going to pass this class with your help. Thank you, you have saved me so many headaches. My teacher makes this look so complicated and she gets upset when we ask questions. I will just come back here and watch all your videos to learn. Thank you!

[@devranamaratungakaraca8034]

Sick 🙌

[@AccountingStuff]

Haha, thanks Dev!

[@xmillion242]

im sick too

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I have accounting right now online as a high school student, these videos have help TREMENDOUSLY. Thank you!!🤍

[@AccountingStuff]

Thanks and best of luck with your studies!

[@ittsmaxi6556]

That tea you made should be a crime...

[@bcirnigliaro5769]

sir you literally explained what I didnt understand from my accounting class from the first three weeks in 10 mins, thank you so much omg

[@joncolinas5609]

I would have preferred if those "T accounts" were in a form of "Accounting Equation": Assets = Liabilities + Stockholder's Equity. Then, all the transactions affecting cash are placed under Assets in the Accounting Equation. Then, all transactions affecting Liabilities are placed under Liabilities account in the Accounting Equation. Then all Capital accounts transactions like Common stock, Dividends, Revenue and Expenses are placed under the Stockholder's Equity in the Accounting Equation. This way, students will learn and know that Dividends and Expenses are Stock holder's equity accounts and at the same time reduce Stockholder's Equity. ASSETS = LIABILITIES + STOCKHOLDER'S EQUITY

[@AccountingStuff]

Good point, thanks for your feedback!

[@aashayjoglekar591]

Awesome style of teaching accounting lessons!!! Way to go!!!

[@AccountingStuff]

Thank you :)

[@aashayjoglekar591]

@@AccountingStuff Yeah bro!