How JOURNAL ENTRIES Work (in Accounting)

[@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

[@23Fragrances]

@@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.

[@mahumansari]

sahi baat

[@michaelmwale716]

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 :)

[@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!

[@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

[@glensteinberg5693]

man, you are definitely the GOAT of accounting on youtube, you have helped me so much for the university and my business! can't thank you enough.

[@AccountingStuff]

Thanks, great to hear you've been finding these videos useful :)

[@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!

[@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.

[@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

[@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!

[@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!

[@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!!!

[@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.

[@elliotttalksf1825]

I’ve just been on a 3 day bookkeeping course and I learnt more watching 10 minutes of your videos. Thanks so much!

[@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

[@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 :)

[@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!

[@pcshe]

These are amazing. I'm currently in my accounting class, and I see what's going on in class but don't comprehend. Your patience and examples are simple to understand. Sincerely, thank you so very much.

[@AccountingStuff]

No problem, best of luck with your studies :)

[@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.

[@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!!!

[@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

[@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.

[@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!!!!! 👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽

[@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

[@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 :)

[@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

[@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!

[@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!

[@N_.Saratonin]

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!!

[@kerstinbeach4459]

Thank you for this Accounting Basics for Beginners playlist!! It has been so helpful so far! I'm excited to continue. I did not study finance in college, but now I do admin work with a bunch of accountants. These videos have helped me so much to start understanding what they do and understanding the company -- which makes me better at my job! Your videos are easy to understand and well designed. You make it fun to learn! Thank you! Thank you!

[@AccountingStuff]

Thanks for your kind words :)

[@rohinisakure4453]

I think you are really working hard on the videos Looking at quality notes ,presentation ,discriptions, timelaps, detail editing , i know its pain full but at end worth it , BY THE WAY THANKS FOR KNOWLEDGE you got one sub more😘

[@AccountingStuff]

Cheers Rohini, it can be hard putting these together but I love the process of it. All the best!

[@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.

[@tuantominh2352]

Hi Super Bro, Don't want to be offensive by the way I call you, just want to say thank you by a friendly way. All you did for the beginners like me are fantastic. Extremely appreciate the time and effort you put in the videos. Hope that you are always in a full of energy status to contribute your knowledge to the world. By the way have a nice day bro

[@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!!

[@aishakaleem9605]

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

[@AccountingStuff]

Thanks Aisha and cheers for your suggestion!

[@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!!

[@marieclaudettegarella2038]

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

[@jyotidhaya3312]

kzbin.info/www/bejne/iWSmp4tsmsp2rJY

[@michellelee9898]

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

[@tevitatalanoa9880]

Xero accounting software is widely used here in New Zealand for small businesses. The company I work for uses SAP

[@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 :)

[@amaljeeson3786]

Very helpful... Thanks.. in India , we use tally accounting software

[@AccountingStuff]

Hey Amal, thanks for letting me know!

[@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!

[@radekzamulacz]

I regret I have discovered this channel only now

[@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!

[@sheridansullivan5783]

Firstly, thanks a lot. I'm trying to transition into accounting and book-keeping with an unrelated degree and these videos are very helpful in making me feel less like a gorilla just banging on a table. I am wondering here, though, as in the last example, both transactions are on the Asset side of The Equation, isn't there also something happening in the Liabilities or Equities and would that require its whole own journal entry?

[@AccountingStuff]

Hey Sheridan, I feel your pain! I transitioned from Physics to Accounting and it took a while to catch up with the rest of my class. A journal doesn't have to affect both sides of the accounting equation. So long as the the total debits are equal to the total credits, it will balance. Hope that helps!

[@leens003]

You explained this better than my uni professor. Thank you

[@sheref66]

I’ve been in college for 4 years and i never understood accounting this easily

[@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!

[@arishakhan2336]

THIS IS AMAZING

[@AccountingStuff]

Cheers Arisha!

[@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.

[@epshroyer]

Your videos are incredible. I immediately cancelled my subscription to an online accounting class after watching a few of your videos. Question: I understand how you came to the conclusion of placing 20 in debit. How does 20 in credit align with either Liabilities, Equity, or Revenue? (I am still wrapping my head around the "duality" of debits and credits) Thanks!

[@AccountingStuff]

Thanks Evan, I'm glad you're enjoying the videos! You always have to keep in mind that there are two sides to every transaction. We credit cash in the example to decrease it. Cash is a 'Normal Asset Account' which means that Debits increase it and Credits decrease it

[@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!

[@josiahneill4880]

Legend

[@sarahperera4717]

hi James i'm from the other side of the world in Sri lanka and u have no idea how much i love your videos! please keep adding more and more! i can learn so much from u and u teach way better than my accounting teacher! ;)

[@AccountingStuff]

Thanks Sarah! I've been to Sri Lanka before, it's a beautiful country

[@rakeshmhatre8958]

I'm studying Amalgamation of ltd companies in my college. So I want to ask you that what's the difference between Equity Shareholders A/c and equity share capital A/c. And In which category does the equity shareholders A/c come in???

[@AccountingStuff]

Hey Rakesh! I've responded to your message on Insta. Have a read and let me know if my answer makes sense

[@jewelmcbrearty834]

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

[@AccountingStuff]

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

[@chammeana]

I'm going to need someone less attractive to show me this stuff :) Whenever he comes on the screen I get distracted. I still Subscribed though. lol

[@Sharpshooter649]

I can totally relate

[@marmartin9822]

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

[@oliviaallison2289]

If I have a completed balance sheet, how do I find my company's opening entry to use in my journal entry for the month of September?

[@AccountingStuff]

Hey Olivia, the closing balance sheet numbers in August are the same as the opening numbers in September. No need to post a journal entry.

[@jodydefreitas2661]

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

[@vikusa2008]

Great job, bravo. My friend has a star-up business, and I'm still figuring out what account software works better for him, what is your suggestion? Note: My friend has its business in Switzerland.

[@AccountingStuff]

Thanks! I'm not sure about Switzerland but QuickBooks, Xero, FreshBooks and Sage seem to be popular. Perhaps your friend could look into those?

[@irene5077]

ok i’m sorry im a freak…watching this video has made me realise just how much i love accounting. planning on getting a head start into studying it next year and i literally cannot wait😆 so many people i’ve spoken to cannot fathom loving accounting so i’m really glad it’s my unique gifting and interest hahahaha

[@evelins6563]

How am I supposed to concentrate when you have those beautiful eyes 😩

[@Vidharmo]

awwn🤭😂

[@ayanoshorts2853]

Bruh

[@Nyko_o9]

Bruh what the hell bruh

[@joann9040]

Cmon bruh

[@mr.j3371]

Simp :/

[@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

[@natashabusono4550]

I have earphones on, and i legit thought someone was spraying windex near my left ear HAHAHA omg lol. anyway...

[@AccountingStuff]

Haha, my bad! This is what happens when you edit with cheap ear buds

[@natashabusono4550]

@@AccountingStuff no! Not at all! It was actually super cool 😂 if that's the case , keep editing w those earbuds!

[@christellelouw7756]

I just wtchd this wth earphone..😂😂😂😂😂scanning thru th comments to c whthr i was th oly one who lookd arnd me whn th spraying started

[@xiao1324]

Me too!! I was on the metro standing near window when I heard the spraying! And I turned around twise to check if someone was spraying behind me!

[@melssyed180]

Samee...i got soo scared🤦‍♀️😂😬

[@helenshantel6177]

you are honestly a life saver

[@abhishekmishra-qz6qr]

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

[@AccountingStuff]

No problem!

[@cryptoholic5120]

Best Accounting Channel Out There - Canadian Too!

[@AccountingStuff]

Thanks that's kind of you to say!

[@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!!

[@SuperlativeRam]

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

[@AccountingStuff]

Thanks buddy!

[@tomaugustin9648]

Get this man a gold medal !!!

[@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.

[@wjarcs]

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

[@rico1dennie704]

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

[@AccountingStuff]

Cheers buddy!

[@shigesan4516]

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

[@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!

[@factsobytesucf8548]

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

[@Moonlight-is6bm]

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

[@jobharath2812]

Well done James, thanks for putting together all these useful reminders for someone like myself, who’s not done any study for some time.... keep em coming lad ❤😊

[@AccountingStuff]

Glad it was helpful!

[@shakoorjr1043]

You are a genius buddy. Just wanted to make you know you earned a new subscriber.

[@AccountingStuff]

Thanks Shakoor, great to have you on board!

[@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

[@1THERAJESHWAR]

I am trying to organise business of my uncle, where there is no accounting system yet. And I have started watching your videos to understand the basics and trying to implement them in the business, though i subscribed your channel long time back out of interest. They dont use any software for accounting. I am trying to find some affordable and simple solutions to begin with. I am hopeful that I will be able to bring some organisation to that small business which would help it to grow. Thank you for sharing the knowledge and making concepts clear in such an easy way.

[@AccountingStuff]

No worries, hope you manage to get it sorted out. Best of luck!

[@DirectorVision767]

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

[@SerbestAkademi]

I think, you are the number 1 in this field. Teaching is an art.

[@AccountingStuff]

Thank you!

[@nafiskhan8801]

Great brother keep it up Love from Bangladesh 🇧🇩 ❤

[@AccountingStuff]

Cheers Nafis :)

[@michelleschultz4300]

Thank you for saving my grade in financial accounting!!

[@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!

[@brickphone2405]

Your videos are so helpful. My accounting teacher used to put us down. She gave us tests every day. If we didn't understand, it meant that we weren't learning enough. If you didn't understand, you were left behind. I ended up taking sped classes just because she ruined bookkeeping for me. Wish I had found this channel earlier.

[@AccountingStuff]

Sorry to hear that you had a rough time with your Accounting classes. I hope things have improved now

[@poonampanwar4637]

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

[@AccountingStuff]

Thanks Poonam, will do!

[@donny3lackk]

Your the man. Just started Principles Of Accounting 1!

[@AccountingStuff]

Nice one! Best of luck with your studies :)

[@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!

[@tammylittle2316]

I am taking Managerial Accounting, these are very help as I am new to all this thank you!!

[@AccountingStuff]

Best of luck with it all!

[@orouchard]

@Accounting Stuff, Thank you very much James for the quality content of your production. I have bought all your cheat sheets and it’s a great affordable investment. I am opening a private school here in Saigon, Vietnam and I am familiar with Ruby on Rails (a web application framework) and PostgreSQL (open source SQL database), so I have decided to create my own web application for all my accounting needs. I love it and building the web software helps me to understand whole thing much better. Ones again, good job and thank you.

[@AccountingStuff]

Hey Olivier, cheers for your support! It's been a few years since I was in Ho Chi Minh. Best of luck with your initiatives!

[@saraheggers2708]

I am using these to help in my college classes, great stuff!! Thank you.

[@AccountingStuff]

Hope your studies are going well :)

[@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!

[@MarcusJackson-b3l]

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

[@AccountingStuff]

Glad it helped!

[@syedimtiyaz2853]

Your videos/channel/concepts are classic examples of learning with fun, I was simply looking for concepts and saw your videos, its amazing the way you explain. I would request to make a videos on real life business audit or case studies on how to identify errors or fraud because it happens with me in few interviews, even with simple or general example would suffice but with complex case. I look forward

[@AccountingStuff]

Thanks for your kind words and cheers for your request!

[@milanpintar]

you know this so well… great teacher!

[@AccountingStuff]

Thanks!