Thanks! You can also remember DEALER (might be easier). D = Dividends, E = Expenses, A = Assets (all three are Debit Accounts...think dividends, debit for this grouping)...then L= Liabilities, E = Owners Equity, R = Revenue (these three are Credit Accounts)
being a dyslectic when I found out the "left-right" trick for debit/credit, I ended up getting a masters degree in accounting. Knowledge is useless unless is shared and explained properly so anyone can enjoy regardless of the status he is in; and you have a gift in explaining with simple words and right to the point, excellent job..
It's still confusing, but EXCELLENT video. I appreciate that you are clear, and that you admit it is confusing, rather than stating the facts as if it should naturally make sense.
Yes, THANK YOU!!!! Thank you!!!! I have studied, asked my instructor, read and re-read. Watched a million and one videos and yours is the ONLY one that made it click. Thank you so much.
make sure your reading your book if your in school. im new to accounting but my teacher said debits are left and credits are right. he said that is for his course. he said there are other types of accounting and transactions that have the credits on the left and debits on the right. he said ignore that for now. my point is make sure this applies to your specific course.
After searching for countless similar topics on UA-cam, it is the most straightforward and logical explanation for debit and credit in accounting. Professional, no drama expression like some UA-cam production, understandable speech speed and intonation.
@Leila Gharani I'm new to your channel, this is the first video I've watched of yours. You answer every question without me having to ask or wonder. I'm going to watch all of your accounting and excel videos, and enroll in your courses. Thank you again.
I am in business school now and I come from a non-business background/undergrad. Your videos have been very helpful in providing context into accounting, which I greatly needed to understand my current classes Thank you.
The Golden Rules of Accounting Debit The Receiver, Credit The Giver. This principle is used in the case of personal accounts. ... Debit What Comes In, Credit What Goes Out. This principle is applied in case of real accounts. ... Debit All Expenses And Losses, Credit All Incomes And Gains.
Once again, thank you Leila for doing this great presentation - even my accountant brother-in-law gets confused over debit and credit, especially where the bank is involved as they see these terms from their side of the fence! Accountancy is not a matter of maths, rather classification and how to decide where to put each item, e.g. a partial refund of a charge that had tax on it, now where to put that tax component!!! However, it is a great discipline and everybody should learn at least a little about it.
I'm glad you addressed the example of debit accounts with your bank at the end! This helped clear up the confusion, understanding that it is from the perspective of the bank.
Your a fabulous teacher!! I went to go see if you had more videos, so, I was SUPER excited to see that you have so many!! 🤣 Bless your heart... pages and pages!! Yay! I am so greatful. Thank you for helping those of us that need this. You are definitely doing what you need to be doing. Fulfilling one of your gifts. God bless!
I have seen many UA-cam videos regarding debit and credit mam.....your video is best. You cleared my confusion when you explained how the bank treats one's cash account as liability account not as asset account. Thanks a ton mam
I am a senior citizen from India. I am a non-finance person but learning account at present. Awesome video. Very well explained the basic concepts in simple language & with a great trick to remember. Wow !!!. Now I will never forget it. So far I was confused. Thanks once again for making such a wonderful video. God bless you.
wow! thank you, thank you, thank you. No one has been able to explain this like you do. Thank you for your simplicity. Teachers and book publishers think if they make accounting very complicated, that you will have more respect for them. And pay more money. You actually care if people understand these difficult to grasp principles. That is the essence of a good teacher.
Such an elegant class and presentation. My daughter is at college in Brazil studying to become an accountant and I always send your videos to her. It is a great opportunity to revise her concepts and to learn the vocabulary of her future career in English. Thanks a lot for this course!
I am paying thousands of dollars to take my Accounting courses and my Professor cannot get me to understand this. College is a rip off. UA-cam University for the win!
Even though I am working in Finance and know all of these as they are very basics but I still watched it because I love the way you explain any topic and want to learn this from every video you make.
Thank you so...much Leila for putting this a great video together about Debit and credit. I am a financial analysis but I never understand the accounting side of Debit and credit. It's so confusing to me. Now I landed a new position that requires me to understand it. Your video had made it so easy to understand and you explained so clearly. God bless your heart for sharing your knowledge.
I'm taking accounting for degree purposes, I keep confusing credit and debits, assets etc...this video REALLY helps me to understand this better. THANK YOU !!!!!!!!
I became a big fan of you, I love Excel more than anyone on the earth, thus you always inspire my passion of Excel with your perfect videos and your easy way of sending tricks, lessons and information directly to understanding centers in our brains, Thanks a lot for everything and looking forward for more amazing videos and ideas from you.
you can tell by a balance sheet and income sheet ，1， then debit from the left side of balance sheet means increase assets and equity； credit from right side of balance sheet means increase loans ；2，incomes from revenue means credit equity ； cost from expense means debit equity
Woow made it so simple I wanted to removed it from my course because all my friends who learnt it said it hard not anymore I will give it a try. Thank u
Thank you mam....I am a science background student. But now I understood these credit and debit. Thank you....your videos are soo nice simple and understandable...
In their origin (14th century Accounting) Debit and Credit were actually longer phrases (in Latin) that meant Must Give and Must Have and were written at top of the pages, not in columns. Unfortunately, the less appropriate words of these phrases remained and they generate confusion. For practical purposes, they only mean Left and Right. Debit= Left and Credit=Right.
Wow, that was super Cool. I have always wanted to learn the basics of Accounting as I am not an Accountant. Coz often I have to struggle to get whether it is debit or credit. Thanks a lot. I think I will always remember this little trick.
Excellent way to explain in the simplest manner. Thanks Leila. This is internet. How your 2019 video helped me in 2021 and will keep helping others like me in coming years.
I'm so used to youtuber that edits to smooth out the vid that. I cannot focus on my professor's webnar where he stutter and pause to read the notes... these vids are 10min informative, his is 45min torture.
Hi Leila, this was explained really well, I’ve took an interest in accounting and learning the basics, I can now memorise ADEX LER Just after watching this video.
Thank you for another incredible video. Though it's a hard topic as long as everything accounting entails is nonintuitive conventional terms. I don't understand why they complicated it so much...
Thanks Leila.. you are reminding me why I didn't become an accountant.. haha!! Just joking.. I love all things numbers.. EXCEL.. math.. accounting, etc. I'll bookmark this one to refer back to it if I forget. Nice to see you expanding into new areas.. although I'm biased to your EXCEL vids. Thanks for all the good learning at your channel, your web site and through your courses.. all great! Thumbs up!!
I've got another mnemonic for you: Another Damn Excellent Leila Excel Resource .....seriously, this helps so much. Accounting is not intuitive to me- I need lots of tutorials like this- more examples, please :)
I like your video more than other youtubers. I will watch more of your vids since you teach better than my professor's. His is too long and redundant. I think to myself, does he really know what he is talking about with... he probably does but maybe bad at teaching it to others lol
Best explanation I have seen yet. Very clear, very professional video, very detailed. And of course very nice women 😉 Thank you so much. I finished my studies 7 years ago and didn't work as accountant. I forgot everything, and of course I didn't knew terms in English as well. So good to remember and learn English names of accountancy.
Hello Leila. Exceptional Video. Just need to have a clear picture about credit card like you have wonderfully explained debit cards? Like in debit cards, it is from banks point of view. When any account holder takes money out, it means less liabililty on bank. Hence account will be debited. Thats wonderful. Could you please explain the transactions of credit cards in similar way and also using T-accounts
Challenge accepted? Download the practice file now and see how many journal entries you can ace 👉 pages.xelplus.com/debit-credit-practice-file
Thanks! You can also remember DEALER (might be easier). D = Dividends, E = Expenses, A = Assets (all three are Debit Accounts...think dividends, debit for this grouping)...then L= Liabilities, E = Owners Equity, R = Revenue (these three are Credit Accounts)
or you could use LEADER !! that's me.. I lead you to total confusion, don't I?
@@jon8796 yes, exactly! I panicked for a second when I realized, "oh great there's 2 E's, how will I remember that one? DUH! LOL 🤣
😊😊
I user DEALER - for this reason being able to identify what sits in DR and CR columns
So, the banks are not backwards, they're just telling the consumer what THEIR books say or indicate. This is the best explanation yet.
being a dyslectic when I found out the "left-right" trick for debit/credit, I ended up getting a masters degree in accounting. Knowledge is useless unless is shared and explained properly so anyone can enjoy regardless of the status he is in; and you have a gift in explaining with simple words and right to the point, excellent job..
Thank you very much for the kind words Christos!
It's still confusing, but EXCELLENT video. I appreciate that you are clear, and that you admit it is confusing, rather than stating the facts as if it should naturally make sense.
Still struggling
Yes, THANK YOU!!!! Thank you!!!! I have studied, asked my instructor, read and re-read. Watched a million and one videos and yours is the ONLY one that made it click. Thank you so much.
Wonderful! That's really great!
make sure your reading your book if your in school. im new to accounting but my teacher said debits are left and credits are right. he said that is for his course. he said there are other types of accounting and transactions that have the credits on the left and debits on the right. he said ignore that for now. my point is make sure this applies to your specific course.
After searching for countless similar topics on UA-cam, it is the most straightforward and logical explanation for debit and credit in accounting. Professional, no drama expression like some UA-cam production, understandable speech speed and intonation.
Totally agree
Finally !
Someone who removes the confusion behind the logic.
An excellent excellent teacher !
Thank you
Glad it was helpful!
@Leila Gharani
I'm new to your channel, this is the first video I've watched of yours. You answer every question without me having to ask or wonder.
I'm going to watch all of your accounting and excel videos, and enroll in your courses.
Thank you again.
I am in business school now and I come from a non-business background/undergrad. Your videos have been very helpful in providing context into accounting, which I greatly needed to understand my current classes Thank you.
I use DEAD CLIC >> Debit for Expenses, Assets, Dividends; Credit for Liabilities, Income and Capital :)
Haha. That's a good one too :)
0
My husband just taught me that! He is an accountant turned Registered Nurse lol!
@@LeilaGharani how does owner's Withdrawal fit into the equation? (as it is an owner's equity) shouldn’t it is a credit account??
@@Enyscorner that’s funny! I’m a registered nurse going into accounting / finances
The Golden Rules of Accounting
Debit The Receiver, Credit The Giver. This principle is used in the case of personal accounts. ...
Debit What Comes In, Credit What Goes Out. This principle is applied in case of real accounts. ...
Debit All Expenses And Losses, Credit All Incomes And Gains.
Debit is by the window! Sorry, couldn't resist. All humans ie non-accountants to ignore ;-}
the third line confuses me a lot, please explain further
Once again, thank you Leila for doing this great presentation - even my accountant brother-in-law gets confused over debit and credit, especially where the bank is involved as they see these terms from their side of the fence! Accountancy is not a matter of maths, rather classification and how to decide where to put each item, e.g. a partial refund of a charge that had tax on it, now where to put that tax component!!! However, it is a great discipline and everybody should learn at least a little about it.
Absolutely agree George.
I'm glad you addressed the example of debit accounts with your bank at the end! This helped clear up the confusion, understanding that it is from the perspective of the bank.
Your a fabulous teacher!! I went to go see if you had more videos, so, I was SUPER excited to see that you have so many!! 🤣 Bless your heart... pages and pages!! Yay! I am so greatful. Thank you for helping those of us that need this. You are definitely doing what you need to be doing. Fulfilling one of your gifts. God bless!
I have seen many UA-cam videos regarding debit and credit mam.....your video is best. You cleared my confusion when you explained how the bank treats one's cash account as liability account not as asset account. Thanks a ton mam
I am a senior citizen from India. I am a non-finance person but learning account at present. Awesome video. Very well explained the basic concepts in simple language & with a great trick to remember. Wow !!!. Now I will never forget it. So far I was confused. Thanks once again for making such a wonderful video. God bless you.
It's great you are dedicated to learning new things. I'm glad the video is helpful.
wow! thank you, thank you, thank you. No one has been able to explain this like you do. Thank you for your simplicity. Teachers and book publishers think if they make accounting very complicated, that you will have more respect for them. And pay more money. You actually care if people understand these difficult to grasp principles. That is the essence of a good teacher.
Glad it was helpful!
9:07 " do the general rules of accounting not apply to them" .... your best quote to date
OMG! No one has ever explained this so clearly! Thank you!
Tysm to clear this in depth
The Atm bank card part had always confused me while learning accounts, now you've cleared it 😅
Such an elegant class and presentation. My daughter is at college in Brazil studying to become an accountant and I always send your videos to her. It is a great opportunity to revise her concepts and to learn the vocabulary of her future career in English. Thanks a lot for this course!
That's great Mario. Say hello to your daughter for me.
Finally! Thank you so much for explaining why credit and debit is the opposite of what it actually means to most of us.
I am paying thousands of dollars to take my Accounting courses and my Professor cannot get me to understand this. College is a rip off. UA-cam University for the win!
you-versity
You're paying for infrastructure (theirs). Not an education (yours).
@@bettyangwenyi1797
Precisely!
💯
You poor little thing.
Even though I am working in Finance and know all of these as they are very basics but I still watched it because I love the way you explain any topic and want to learn this from every video you make.
Thank you for the kind feedback. We will post more videos on accounting next year.
I have no Words.......For Appreciating Your Video And Your Clarity of the Concept of Debit/ Credit ❤️
finally! someone cleared the difference of debit /credit in accounting with the debit/credit in banking. nice video. LOVE!!
Thank you so...much Leila for putting this a great video together about Debit and credit. I am a financial analysis but I never understand the accounting side of Debit and credit. It's so confusing to me. Now I landed a new position that requires me to understand it. Your video had made it so easy to understand and you explained so clearly. God bless your heart for sharing your knowledge.
Hey Sammie. I'm Sunday from Nigeria. I'm an Accounting graduate who has strong interest in Financial Analysis. Please, can we talk?🙏
@@sundayoyelakin4540 hello-how can I be your assistant?
This is a great refresher for someone who took accounting a long time ago, thank you!
You're very welcome!
Debits and credits are so important to learn the basics Accounting. Thanks for the content
Account Don't EXpect Low Earning Rates !! Very imformative wording ❤️ You are always best!
Somehow we have to remember it :)
Leila, you are the definition of genius: uncomplicated.
I'm taking accounting for degree purposes, I keep confusing credit and debits, assets etc...this video REALLY helps me to understand this better. THANK YOU !!!!!!!!
My pleasure, David! Glad it was helpful.
I became a big fan of you, I love Excel more than anyone on the earth, thus you always inspire my passion of Excel with your perfect videos and your easy way of sending tricks, lessons and information directly to understanding centers in our brains, Thanks a lot for everything and looking forward for more amazing videos and ideas from you.
accountants Dont EXpect Low Earning Rates! I love this hint!! Thank you!
Thanks Leila for your content! I wish I was just sit in a classroom watching you :) Very composed and clear teacher
the last 1 minute solved the confusion i had from the past whole day i.e my first accounting class thank you soo much!!!!!
I just had my AHA moment when you explained the debit/credit card. Thank you!!!!!
such a helpful video. Struggling on this for Uni and you explained it better than my university did. thanks!!!!
thank you so much ! honestly the first video that accurately explained and answered every question i had.
You're very welcome!
Much better explanation than other channels
you can tell by a balance sheet and income sheet ，1， then debit from the left side of balance sheet means increase assets and equity； credit from right side of balance sheet means increase loans ；2，incomes from revenue means credit equity ； cost from expense means debit equity
Finally a video that I 110% understand. Thank you for being so clear!
I love her, i understand her more than my lecturer does.😘
It's my first time learning accounting and it seems very simple with your teachings
Ur simp
Woow made it so simple I wanted to removed it from my course because all my friends who learnt it said it hard not anymore I will give it a try. Thank u
You can do it!
Loved the last part where you cleared the Bank's POV. That was creating a lot of confusion in understanding concepts.
Glad it was helpful.
Thank you mam....I am a science background student. But now I understood these credit and debit. Thank you....your videos are soo nice simple and understandable...
Most welcome 😊
In their origin (14th century Accounting) Debit and Credit were actually longer phrases (in Latin) that meant Must Give and Must Have and were written at top of the pages, not in columns. Unfortunately, the less appropriate words of these phrases remained and they generate confusion. For practical purposes, they only mean Left and Right. Debit= Left and Credit=Right.
Thank you for explaining debit/credit from the bank perspective vs ours. Very helpful! You unconfused me! Marvelous!
You are so welcome!
Leila, you're a really good teacher! You explain it so well, I understood my first go round! Thank you!
Excellent video. Really easy to follow, and the on-screen visuals aided my understanding immensely. Thank you!
Extra thanks for clearing up the credit card-debit card confusion!
I have loved the point of view part. Resolves the confusion. Thanks a lot
Glad it was helpful!
Thank you Leila. This has been very helpful for an absolute beginner. I starting to believe you CAN teach an old dog new tricks.
Wow, that was super Cool. I have always wanted to learn the basics of Accounting as I am not an Accountant. Coz often I have to struggle to get whether it is debit or credit. Thanks a lot. I think I will always remember this little trick.
thank you so much....i had the exact same confusion...as i was looking @ my account from My PoV.....so glad I watched this video.
Thank you for the Debit card explanation. This really helps me to explain what is happening in our account. Thanks.
Happy to help!
Thank you so much for this!! I have been struggling with this concept for ages and love the explanation at the end about the bank cards :)
Beautiful explanation. ..the video is a good example of clarity ..brevity and accuracy. ..well done lady
Glad you like it!
I used to use your channel for google sheets but this was a really helpful video. I'm gonna start to use your channel for accounting purposes as well.
Awesome, thank you!
Excellent way to explain in the simplest manner. Thanks Leila. This is internet. How your 2019 video helped me in 2021 and will keep helping others like me in coming years.
You're very welcome!
Thanks for explaining the banking side of it. Makes sense now
Glad it's helpful.
I now see why she has over 1M subscribers
Another premier lesson, important points emphaised and now we should all understand how the debit cards accounting equation
I'm glad you liked it, Alan.
Leila fist for thanks for clearing my confusion about debit and credit now I am understand about your presentation so keep doing all the best 👍💯
I love your explanations....please consider preparing a good chart of accounts & Trial Balance.Thank you
Everyone is an autodidactic, stop paying for college, you are a genius
It makes much more sense coming from a pretty woman than my accounting professor...
maybe you're professor is not a pretty woman
@@elijah5393 He was a great professor (made a B) but he did not fit either or those categories.
I'm so used to youtuber that edits to smooth out the vid that. I cannot focus on my professor's webnar where he stutter and pause to read the notes... these vids are 10min informative, his is 45min torture.
Hi Leila, this was explained really well, I’ve took an interest in accounting and learning the basics, I can now memorise ADEX LER Just after watching this video.
Good explanation of the debits/credits from the bank's perspective.
the bank point have been the confusion to me today is cleared up, thankx
Glad it was helpful.
Wonderfully explained at the right pace. Your delivery is awesome.
Thank you for your clear explanations!
this is so clear, as it was puzzling me at first. thanks.
Great to hear!
This is really good. Simple and clear. Thank you. I'm trying to teach this to 6th graders so this is the level I need.
Why are 6th graders learning accountancy? wow.
If you get a thumbs down notification from me, it was by accident!! I corrected it to thumbs up bc WOW what a hack!!! THANK YOU!!!
Pay Lian means:
Debit: loans
Credit: cash
Useful video..Leila. thanks
That's right! Glad you like the video :)
Thank you for another incredible video. Though it's a hard topic as long as everything accounting entails is nonintuitive conventional terms. I don't understand why they complicated it so much...
Great video! Thanks for helping clear up some issues for me. All the best.❤
Happy to help!
Thanks Leila.. you are reminding me why I didn't become an accountant.. haha!! Just joking.. I love all things numbers.. EXCEL.. math.. accounting, etc. I'll bookmark this one to refer back to it if I forget. Nice to see you expanding into new areas.. although I'm biased to your EXCEL vids. Thanks for all the good learning at your channel, your web site and through your courses.. all great! Thumbs up!!
Thanks Wayne. Always a pleasure to see your comments! Thanks for the thumbs up.
I've got another mnemonic for you: Another Damn Excellent Leila Excel Resource .....seriously, this helps so much. Accounting is not intuitive to me- I need lots of tutorials like this- more examples, please :)
Glad it's helpful. We'll do more examples in the next video.
Thank you for this amazing video. It helped me understand the concept though I am not accountant.
You explained better than my teacher! ❤
Glad to hear that!
I like your video more than other youtubers. I will watch more of your vids since you teach better than my professor's. His is too long and redundant. I think to myself, does he really know what he is talking about with... he probably does but maybe bad at teaching it to others lol
Glad you like it :)
Best explanation I have seen yet. Very clear, very professional video, very detailed. And of course very nice women 😉 Thank you so much. I finished my studies 7 years ago and didn't work as accountant. I forgot everything, and of course I didn't knew terms in English as well. So good to remember and learn English names of accountancy.
Glad it was helpful!
Thank you so much to make every lesson so easy to understand. big fan of you from Algeria.
I'm really happy to hear that!
OMG thank you so much! I am getting so confused trying to understand our new office software package for accounting.
OMG! I wish my accounting teacher taught me this acronym, and I may have not failed my first test
Thank you so much... I never came across such a wonderful explanation....
Glad you liked it!
Thanks for so useful video, clear and direct. You´re great Leila. Greetengs from Mexico
Thank you for your good presentation of accounting lessons especially debit and credit methods.
This was a very clear explanation of a concept that I was having trouble with. Thanks!!
Glad it helped Vanessa!
Thanks!
Thank you!
wow thanx. Cristal Clear.the Bank part in particular
Hello Leila. Exceptional Video. Just need to have a clear picture about credit card like you have wonderfully explained debit cards?
Like in debit cards, it is from banks point of view. When any account holder takes money out, it means less liabililty on bank. Hence account will be debited. Thats wonderful.
Could you please explain the transactions of credit cards in similar way and also using T-accounts
Only just seen this video.
DEAL and CLIP work just as well:
Debit Expenses Assets Losses
Credit Liabilities Income Profit.
👍
The best video I have watched on this topic!
Thank you Leila for this wonderful explanation.
truly fruitful, what a way to explain things !!
Thank you.This was reallly really helpful.❤