Home » How to record a journal entry the EASY way! financial controller

How to record a journal entry the EASY way! financial controller

by Dragonspear



How to record a journal entry in a way that’s easy to remember. I will walk you 3 steps to record any business transaction.

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How to record a journal entry the EASY way!

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How to record a journal entry the EASY way!
financial controller
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19 comments

S Worth 07/09/2021 - 11:33 Chiều

This is the best description I've seen so far. It's very helpful, and I'm currently using it for a homework assignment.

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kibi macheru 07/09/2021 - 11:33 Chiều

Wooow Action and Reaction and DEALER really helped me. And to know that thinking through it does not make you look stupid is a bonus. Thank you soooo much for your tips

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AFRICAN LIFE 07/09/2021 - 11:33 Chiều

This is exactly i was looking for . 9 mins but so helpful . some people are taking more than 50 minutes but i failed to understand

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Perfectsound 07/09/2021 - 11:33 Chiều

Hi Sir-Please help me with this Journal Entry-Scenario is-My Company's Rent for year 2020 is $120,000/-.I received the invoice from Real Estate on 5th Jan 2020.But I will be paying the entire $120k only on 10 of April-2020.Can someone help me with the complete journal

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Armelle Tafempa 07/09/2021 - 11:33 Chiều

another acronym is DEAD CLIC (Debit Expenditure-Assets-Drawings / Credit Liabilities- Income- Capital)

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Timothy Smith 07/09/2021 - 11:33 Chiều

Can you go over the chart of accounts of different industries for classifying expenses for accounts payable? Example: like raw material freight in expense is classified as inventory, but what about freight out for a manufacturer? Still inventory? A retailer? Selling expense? Sometimes signs are classified as signage, but other times it is classified as supplies, advertising, building improvement or building maintenance.. Building a ramp for the disabled customers is supply or building maintenance, how about a ramp for disabled employees? Is there a difference between accrued telephone, telephone, communication account titles and if so, does it depend on the industry. A fence around an apartment complex is land improvement, but what about the security gate or the fence around the pool (a legal requirement) for safety and to keep non-residence out. What is coaching expense for a real estate agent? The repaving of parking lots? Capitalized to land (cannot be depreciated) or land improvement or building repair? Etc…

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Suzanne D. 07/09/2021 - 11:33 Chiều

Beautifully depicted and spoken.

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Sweett And Simple 07/09/2021 - 11:33 Chiều

Mind blowing! This is not taught in school. Booo

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Aris López 07/09/2021 - 11:33 Chiều

That 'DEALER' stuff is misleading. Journal entries should be recorded using basic, direct rules of debit and credit. I don't like cutting corners.

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Henryson Neewray 07/09/2021 - 11:33 Chiều

Thanks so much for the tutorial🙏🙏

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Veronica Pilkenton 07/09/2021 - 11:33 Chiều

You are awesome, thanks for take the time to created this videos. I am learning a lot from you

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Vincent Jarbo 07/09/2021 - 11:33 Chiều

Great video. However, isn’t office supplies an expense that hits the P&L and not an asset on the balance sheet?

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Cynthia Truphena 07/09/2021 - 11:33 Chiều

Well understood

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Keshnie Pillay 07/09/2021 - 11:33 Chiều

Thanks Bill, I missed this video 🤭 Thanks for another brilliant explanation. DEALER is a much easier way to remember my Dr/Cr.

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Angel Lourence 07/09/2021 - 11:33 Chiều

This is a precious 9 minutes of learning, compared to credits I’m taking in uni 🥲thank you for making this video sir, looking forward for another updatess! #autosubscribed

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Salonn Thy 07/09/2021 - 11:33 Chiều

Thank you, this video was very helpful 😊 please do more videos like this 🙏👍

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Adam Saldana 07/09/2021 - 11:33 Chiều

How about recording a business loan?
Would it be a dr to cash and a cr to notes payable?

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Irshad (AlTilad.net) 07/09/2021 - 11:33 Chiều

you did a great job sir. I could not understand easily while studying my B.COM Graduation but you make me to understand its very easily..

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Percussive Rhythms 07/09/2021 - 11:33 Chiều

wow, Thankyou sir.

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