How JOURNAL ENTRIES Work (in Accounting)

🆓Journal Entry Free Quiz → accountingstuff.com/blog/jour...
💥Journal Entry Cheat Sheet → accountingstuff.com/shop
🖊Journal Entry Practice Questions → accountingstuff.com/practice-...
Accounting Basics Lesson 4. In this episode of Accounting Basics for Beginners, I explain Journal Entries in full! In this episode of Accounting Stuff - Accounting Basics Lesson 4 - you will learn:
▪ The definition of accounting Journal Entries, as part of Basic Accounting for Beginners.
▪ The most common Journal Entry Format and how Journal Entries are recorded.
▪ How to check that your Journal Entries balance.
▪ I will also take you through the differences between Manual Journals & Automatic Journals.
▪ And... of course, we will talk through two Journal Entry examples.
▪ Journal Entries for Dummies
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
01:15 - Why do we Record Transactions?
02:15 - What are Journal Entries?
02:26 - What does a Journal Entry look like?
03:51 - Manual vs Automatic Journal Entries
04:20 - Journal Entry Example
05:47 - Recap
🔎FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
🔝CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → geni.us/bNN7
▪ Xero (FREE TRIAL) → xeroamericas.grsm.io/ck90eoq1...
▪ Freshbooks → geni.us/Z7DA8l
🖥SPREADSHEET SOFTWARE
▪ Sheets → geni.us/fFShU
▪ Excel → geni.us/BRPBz
🚶FOLLOW ME ON
▪ Instagram → / accountingstuff
▪ TikTok → / accounting_stuff
▪ Facebook → / thisisaccountingstuff
🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → • ACCOUNTING BASICS for ...
________________________
DISCLAIMER
Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
________________________
#accounting #accountingbasics #accountingstuff

[@AccountingStuff]

Hope you found this short intro to Journal Entries useful! If you run a Startup or Small Business, what Accounting Software are you using? I would like to make more videos to help people bookkeep for themselves so any recommendations would be appreciated :) 🔗USEFUL LINKS ▪Journal Entry Cheat Sheet → accountingstuff.com/shop/journal-entries-cheat-sheet ▪Free Journal Entry Quiz → accountingstuff.com/blog/journal-entry-quiz ▪Journal Entry Practice Questions → accountingstuff.com/practice-questions/journal-entry-question-pack-1 ⏱TIMESTAMPS 00:00 - Intro 01:15 - Why do we Record Transactions? 02:15 - What are Journal Entries? 02:26 - What does a Journal Entry look like? 03:51 - Manual vs Automatic Journal Entries 04:20 - Journal Entry Example 05:47 - Recap

[@33fivers]

Using Wave, which is similar to Quickbooks.

[@kkevinn]

XERO

[@rakeshmhatre8958]

I'm learning Tally ERP 9(India) right now.

[@nikhilsathyanaryana7893]

Thanks so much for this! seriously helpful. Have you ever used Trintech software?

[@mlss5964]

Quickbooks online

[@AZ-vh5tf]

I've watched 2 of your videos and already understand more than reading entire chapters in my accounting book. Thank you for breaking it down so we can all understand! Now I have hope for passing my accounting class!

[@AccountingStuff]

Glad to hear it, good luck for your exams!

[@kaidestinyz]

This is the problem I have with my textbooks. A ton of information that beats around the bush and leads nowhere. At the end of it, I don't understand what I should know.

[@Finnvanrijn]

@Autimn W did you pass?

[@marcofebrianofficial3637]

true it happens to me as well

[@tristanmaisonneuve8654]

@@kaidestinyz same here and I’m panicking cuz I know I ain’t dumb I should be understanding this but there are no clear examples it’s all just general common sense info

[@juanbenlinoaumali2481]

That is how teachers are supposed to teach. Straight to the point! Keep it up! Such a big help on my studies!

[@AccountingStuff]

Cheers Juan, best of luck with your studies :)

[@CH-rs7cm]

And up close and personal. . . .I have a been monitor. It felt weird. Still, Very good lecture.

[@michaelmwale5057]

5 years and your videos are still helping freshers. Thank you because I’ve got no books 😭🙏🏽

[@AccountingStuff]

No worries, it always helps to refresh yourself on the basics :)

[@piercechase3459]

Honestly, you should be my accounting teacher at USC! These videos have helped me so much. Thank you!

[@AccountingStuff]

No worries Pierce!

[@isabelladowsey-mclaren3698]

yeah haha wish you were my accounting teacher, you explain stuff so well

[@lilyleighreinheart3734]

That's what I told him too. Uhm USC as in University of San Carlos?

[@shawnknive]

Lily Leigh Reinheart university of Southern California

[@lilyleighreinheart3734]

@@shawnknive ohh thanka

[@Dementor-zh4vc]

I'm new to accounting and even my teacher couldn't explain things to me in such an easy way. Thank you

[@AccountingStuff]

No worries, I'm happy to help!

[@sapsalingpusacattalkmaykwe1556]

Right.

[@Mjc-ot7wl]

Indeed

[@Zakugo]

Absolutely incredible, i understand more from watching your videos than i did in all 4 years of my degree..

[@AccountingStuff]

Cheers Peter, it's great to hear that the videos helped

[@user-cs1zt8hh9x]

I know these videos are about four years old now but I just wanted to let you know that they have already been an INCREDIBLE help to me! I am not very savvy when it comes to things like this, but I've started my first semester in college and thanks to your videos, it really feels like Accounting would actually be possible for me and maybe even enjoyable eventually. Thank you so much!

[@lindadowling6702]

I am currently binge watching all your videos because my online accounting course makes my eyes cross. Thank you for explaining this so well.

[@rtjs14]

I've learned more from you so far in 4 videos than one month in my accounting class. Professors should just send us here first when we have online accounting class. This is so much easier to understand.

[@marieclaudettegarella2038]

So my professor has taught for more than twenty years, yet you explain better than him

[@jyotidhaya3312]

kzbin.info/www/bejne/iWSmp4tsmsp2rJY

[@VRwithJasmine]

Your series is incredible. It's well organized, concise and very informative. I really appreciate you making these videos and subscribed after seeing your first one!

[@AccountingStuff]

Thanks Jasmine! That is kind of you to say, I'm glad that you're finding the videos useful. Cheers for the sub!

[@kenzotakahashi4283]

The equipment was cleaned on my birthday, how cheerful! 😄 I'd studied Urban Planning and I've had nothing to do with accounting until now, where I decided to establish my own business. I've recently started watching this series and each video, so far, is so well explained. As someone who has no background in Finance, here I learn more information about accounting than a class in university could have ever taught me. Here, I have the complete freedom to pause and repeat to take as much time as I need to understand a point, without stealing the valuable time of a "classmate" who maybe does faster than me. I call it "The KZbin University". In this way, I acknowledge this series as more valuable asset than a physical class in any university in today's world. Way to go for the Accounting Stuff and thank you for contributing to the world with this valuable material. Maybe after this series, I might as well take some online bachelor program, since KZbin is yet to provide a certificate for the time being. But I'll already know accounting by the time I'll apply!

[@joseperez1464]

I’ve dreaded accounting all my life , thanks James for helping me to get my first timid steps in fighting my accounting phobia.

[@AccountingStuff]

No problem, I'm happy to help!

[@indirasampaio5269]

James, I’m taking a basic accounting course and your videos have been saving me! Thank you so much for doing this! Your explanation is amazing and the quality of your videos is just perfect!

[@AccountingStuff]

Hope your course is going well!

[@You-os6jn]

Your videos are super useful, man! I'm at my university doing an Introductory Accounting course. Your videos are more useful than the 2 hour lectures.

[@johnathanvanderschyff3513]

You are my hero when it comes to accounting because I've never actually had a decent accounting teacher and I've have always never understood accounting. Thank you very much for helping me understand accounting! My words cannot describe how much I thank you!!!

[@marmartin9822]

I’m studying for an introductory accounting midterm right now and I really appreciate your videos. Thank you!

[@JordanGiffin]

My accounting class doesn't have any lectures, so I can't thank you enough for these.

[@AccountingStuff]

You're very welcome. All the best!

[@alexakinkugbe694]

I’m happy I found your KZbin channel. Lightbulbs been turning on ever since I started watching your videos. Thank you for your brilliance to explain accounting in a simple way to understand.

[@jasonpuxty945]

I’m starting at the beginning. I’m watching the development of your videos and really enjoying the content and the presentation. Great job.

[@acc5a393]

Thank you!! I was looking for a channel to make the accounting clear to me in easy and understandable ways. You are perfectly did that👏🏻

[@AccountingStuff]

No worries, happy to hear you're finding the videos helpful!

[@martinrios4662]

@AccountingStuff...Thank you so much for making your accounting tutorials! I finally understand accounting better thanks to you!

[@AccountingStuff]

Hey Martin, it's a pleasure! I'm happy to hear that you are understanding it better!!

[@coryjhill]

I have been using your videos supplementally to my school accounting classes. I have watched them before and after each of my classes... your videos have further helped me understand the basics of accounting. Thank you for sharing your knowledge and helping everyone that watches these videos. You're awesome!

[@AccountingStuff]

No worries Cory, thanks!

[@travisscott5539]

@@AccountingStuff must be easy being a teacher for him lol

[@michellelee9898]

you are literally getting me through 1st year!!!! THANK YOU THANK YOU THANK YOU!!!!!

[@lauralau2257]

Hey, I have started my accounting course and my mind was just so frazzled from the way it was written. Thankfully I found your videos so quickly to starting my course and it’s helped so much thank you

[@hibadziri]

THANK YOU .. I have been struggling but after watching some of ur videos everthing is becoming clearer. i ll finish the whole playlist anc i am sure i ll get what i neeed

[@jodydefreitas2661]

I'm always coming back to this channel for help vibess

[@kaladouglas5268]

I have watched 4 videos now and I actually understand accounting now. Thank you so much for breaking it down for us.

[@AccountingStuff]

Nice one! That's great to hear :)

[@helenshantel6177]

you are honestly a life saver

[@mamallama9866]

This is the 3rd video you've created I find myself watching...you're very clear and concise; I really can't tell you just how much I appreciate the "no fluff" approach! I knew I wasn't alone in thinking "get to the point, already!". Well done!!

[@AccountingStuff]

No problem, thanks for your kind words!

[@jewelmcbrearty834]

These video are really helping me refresh before my test! Thank you!

[@AccountingStuff]

That's great to hear, good luck for your test!

[@yimingzuo3020]

Love your channel! Really helpful, easier to understand compared to university lectures and books

[@michaelgerow3161]

Thanks for the video, I am always accounting on you for good information.

[@deepbreathandheal]

I really love how u teach and it's helping me out very much on getting ready for the exam. Thanks alottt.

[@AccountingStuff]

Good luck in your exam!!

[@XxSammyL]

I wish I had come across your video before the exam! Thank you and it really shows a good teacher can make difference in learning, even for accounting!

[@AccountingStuff]

Hope it went well!

[@behindthemask983]

Started Watching your Videos when I started my Undergraduate of Accounting and Finance ... Ever since 1st Semester you have been a great help through out and now I am in 8th Semester completing this degree soon... and i just came here to refresh my memory of Journal Entries and remembered how I found you in the 1st semester.. Thankyou for being a great Accounting teacher and specially through those online classes in Pandemic (ugh will never forget those times)

[@AccountingStuff]

You're so close to the end! Best of luck

[@lynnothman9081]

You explained this better than my uni professor. Thank you

[@fbatista1973]

Finally I was able to grasp the concept of it. The example you presented in the end was great and that did the trick!

[@AccountingStuff]

Nice one!

[@thankmenoww]

You my friend, are a lifesaver! Thanks for making these videos, you're a great teacher :)

[@AccountingStuff]

Thanks Adrian! Hope it's all making sense :)

[@ssathyamoorthy3917]

I really want to know more accounts information from you... keep going on....rock it

[@AccountingStuff]

Thanks, there is plenty more to come! 🤘

[@jyotidhaya3312]

kzbin.info/www/bejne/iWSmp4tsmsp2rJY

[@sarahschluter8456]

Thank you so much for these videos! This is the 3rd one I've watched trying to make sense of my online accounting class. I've been struggling with it but your videos are very easy to understand and I enjoy your accent.

[@AccountingStuff]

No worries Sarah, hope it's making sense!

[@andytoss8063]

I am teaching Accounting myself and I can only recommend this channel. The lesson is much more condensed and focuses on the essential.

[@kylevanrooyen8754]

Extremely helpful, amazing content !!

[@AccountingStuff]

Thanks!

[@SuperlativeRam]

Helpful, and unencumbered post. Clear & concise. Thanks.

[@AccountingStuff]

Thanks buddy!

[@brianalphonsusapayor8873]

Man all your videos deserve million likes each. Thanks for sharing all these knowledge in a super simple way!

[@AccountingStuff]

Thanks for your kind words :)

[@Eringotube]

You have a really fantastic way to teach. Thank you!

[@mmbenoit]

Thank you so much James ! You have an ease and energy that engage the viewers. The teaser of the topic and the summary organized learning points and help the retention Great humour too 😎

[@AccountingStuff]

Cheers, I'm happy you enjoyed it!

[@Stella.lianchengrealestate]

OMG you literally save my life!!! I'm Accounting major but my lecturers can't help at all =(( hence need to rely on all of your videos for exam preps. Thank you so much for such clear and concise explanations!!!

[@Rip_gojo341]

Thank you for posting these videos, they are very helpful!!!

[@bernardyeo9077]

Luv your video. I m not an accountant. I m just a biz man. But I understand debit and credit and I know how to do my own journal entry after watching your video. Yours the the best video on accounting subject on KZbin. Thank you so much.

[@TheNMPLopes]

Great stuf james! Thank you!

[@mariapotocka3705]

I am having a retake from accounting at my first year at uni and you are giving me hope to pass it ! Everything is explained so clear and perfect.. I am amazed, I don't know what would I do without you.. Bunch of Credits!!! AND PLEASE KEEP GOING WITH NEW STUFF!!! YOU ARE THE BEST!

[@AccountingStuff]

Best of luck with your retake, hope you smash it this time!

[@factsobytesucf8548]

Man simply amazed of your teaching skills ......

[@hisokaamorou4211]

Thank you for creating such a wonderful contents!

[@braytonsky7275]

Thank you so much. My entire accounting class is struggling and I think you just saved me. Will definitely share with the rest of these poor students!

[@AccountingStuff]

Thanks, I hope the vids help!

[@tomaugustin9648]

Get this man a gold medal !!!

[@wjarcs]

by watching your videos I can modified my software developments in a proper ways of system data analysis.. thanks to you. good day!

[@luyandakunene1343]

You are the real plug .... Starting to understand act better since watching your videos

[@AccountingStuff]

Hey Luyanda, that is fantastic to hear! I'm glad that everything is falling into place for you

[@joanpax4322]

Thanks we are learning alot

[@rico1dennie704]

Yes ,this is the proper way to teach Anything through Media (KZbin ) Thank Man!

[@AccountingStuff]

Cheers buddy!

[@nnuyenc4133]

You help me so much thank you and great video too !

[@user-cg1fg6sd2x]

Thank you for making it simple. It's all coming back to me now.

[@AccountingStuff]

Glad it helped!

[@Moonlight-is6bm]

oh my god thank you so much. I have an exam next week and I learned so much from you.

[@elizabethzieman1059]

Thank you soooo much. I just bought an accounting software for my business and of course I threw out all my notes from my college accounting course. Need a refresher!!

[@AccountingStuff]

I made the same mistake when I did my exams!

[@jyotidhaya3312]

kzbin.info/www/bejne/iWSmp4tsmsp2rJY

[@lalamalelang5670]

Hi

[@lalamalelang5670]

U have a business mam Elizabeth. Do u need a va. Please pm thanks.

[@CH-ff3dk]

Your videos have been identified as the go-to videos for students taking Principles of Accounting at WGU. Thank you for creating these videos.

[@AccountingStuff]

Wow, no way! Good to know. I hope you find them helpful

[@harika3969]

you make it sound so easy . I always thought it was so hard . thankyou this helped im giving my accounting igcse tomorrow

[@AccountingStuff]

Good luck!!

[@sheilabielecki9902]

Hello James, I am changing jobs and many call for bank rec and journal entries. I have worked on these with help and need to know more on my own. I really appreciate your explanation of terms. This is big as in helping with the understanding process! I am older and getting back at it can be very intimidating and I so appreciate your tutorials

[@michelleschultz4300]

Thank you for saving my grade in financial accounting!!

[@airaderequito7603]

your videos are really helpful and easy to understand for the beginners, looking forward for your accounting videos

[@AccountingStuff]

Thanks Aira! Glad to hear that you're finding them helpful.

[@ani-yx6hp]

Your videos have helped me so much, thank you!

[@AccountingStuff]

You're most welcome :)

[@MichaelALoberg]

Thank you for this great series James!

[@AccountingStuff]

No worries Michael, you're very welcome!

[@chinodomcharles-beke2136]

Your channel is really dope bro 💪🏽. Love everything your edits, video quality etc.

[@AccountingStuff]

Thanks mate!

[@safayacoubi992]

your videos are so helpful thank you so much I'm going to make sure that all of my classmates follow you, keep up with the good work man !!!

[@AccountingStuff]

Cheers Safa, thanks for your support!

[@nataliameyer4947]

Love the way you explain concepts and how give the time to th e viewr to catch their breth and asimilate the information . I have to watch the videos few times over and each time more an more I think makes sense . THANK YOU !!!!

[@AccountingStuff]

Thanks, great to hear you're finding these useful!

[@njcranes]

Good job! Thanks for posting!

[@AccountingStuff]

No worries, you're most welcome :)

[@shigesan4516]

Much better than profs explaining it off of a text book. Thank you so much !!!!!

[@allenjos10]

UWI needs to hire you my boy.... good stuff... i never thought id understand accounting so fast...

[@leomichaels1677]

You deserve a lot more views. Only 10k subs and such high quality content. As a newbie in accounting your videos are a great help. Thanks man

[@AccountingStuff]

Cheers Leo!

[@Jl-pi3wy]

Thanks enjoy James' videos

[@3Augustin3]

Thank you so much for posting these, I am a single father who works full-time while taking online college courses. Your videos have made it much easier for me. thanks again.

[@AccountingStuff]

No problem, it must be difficult to juggle work, college and being a parent. I'm glad I could help in some small way. All the best!

[@shanicegrande8631]

😭 i congratulate you this is really a lot! i hope everything goes well for you

[@3Augustin3]

@@shanicegrande8631 thanks Shanice, update. it went great, i graduated and am now employed public sector making enough to take care of her. thank you

[@shanicegrande8631]

@@3Augustin3 that is so amazing i’m really proud of you!!!!! 👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽

[@gisellaadara5944]

Your videos help me understand accounting in interesting way and for a short time. Well done!

[@AccountingStuff]

That's great to hear! All the best

[@laurenfino6686]

you are the best teacher

[@aishakaleem9605]

The best explanation I have heard.....can explain more about general journal entries

[@AccountingStuff]

Thanks Aisha and cheers for your suggestion!

[@cryptoholic5120]

Best Accounting Channel Out There - Canadian Too!

[@AccountingStuff]

Thanks that's kind of you to say!

[@thetechrealms7824]

Your videos are AWESOME! Keep it up

[@AccountingStuff]

Cheers, thanks for your support!

[@learnersoul2679]

you make such attractive videos. THank you for making accounting lookk so good and easy

[@lubnabashein5092]

Super simplistic. Love your videos.

[@AccountingStuff]

Cheers Lubna!

[@abhishekmishra-qz6qr]

This is a very unique way in which I am learning accounting ....thanks accounting stuff

[@AccountingStuff]

No problem!

[@milanpintar]

you know this so well… great teacher!

[@AccountingStuff]

Thanks!

[@afiqahali9530]

the best explanation of accouting. you made accounting seems so easy to follow. thank you, reallly grateful found your channel and realllly appreciate ypur effort.

[@AccountingStuff]

Cheers!!

[@smallbutsuper]

Thank you so much, bro! You made accounting easier for an absolute beginner like me.

[@AccountingStuff]

Happy to help!

[@hayuek5392]

thank you so much sir because you are helping me out. Please please keep on updating your videos because I really want to learn it from you.

[@AccountingStuff]

Cheers Hayu, it's great to hear that the vids are helping. I am working on many more as we speak!

[@hasibullahamiri3842]

Thank u so much for Perparing such videos 😊

[@valeriespiwak3017]

Thank you! As a fairly new bookkeeper this is much more helpful that accounting college course.

[@poonampanwar4637]

You teach accounting in super easy method👌👍Keep going!

[@AccountingStuff]

Thanks Poonam, will do!

[@kumareshnatarajan8019]

Very helpful; Thanks a lot.Thanks once again.

[@AccountingStuff]

Thanks Kumaresh!

[@MayankSingh-qg4zv]

U r a wonderful teacher !! Thank God that u r on a KZbin.

[@AccountingStuff]

Thanks Mayank!

[@inesbazin3221]

Thank you so much you are saving my final exam

[@johnrovicgerong433]

Your videos really are helping out. Thanks for the wonderful video

[@AccountingStuff]

No worries John!

[@1000VC]

Information is as easy to follow as you are on the eyes😌