Stop being intimidated by your accountant! This playlist is your go-to dictionary for the most important accounting and bookkeeping terms. We break down complex financial concepts into simple, everyday English so you can take full control of your business finances.
In this playlist, we cover essentials like:
?? Assets vs. Liabilities: What you own vs. what you owe.
?? Revenue vs. Profit: Why they aren't the same thing.
?? Accounts Receivable & Payable: Managing the money coming in and going out.
?? Debits and Credits: The foundation of double-entry bookkeeping.
?? Equity, COGS, and more!
Mastering the "language of business" is the first step to scaling your company. Don't forget to check out our bookkeeping templates https://www.thebookkeepingchannel.com/advanced-bookkeeping-templates to put this knowledge into practice!
#AccountingBasics #BookkeepingTips #SmallBusinessEducation #LearnAccounting #BusinessTerms #TheBookkeepingChannel
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What are Debits and Credits? ACCOUNTING BASICS - Part 1
Do you want to know the trick to remembering how debits and credits work in accounting? Debits and credits are the found…
1
What are The Five Account Types? ACCOUNTING BASICS - Part 2
Every account in bookkeeping has a debit or credit nature and knowing this is the key to understanding debits and credit…
2
What Are T Accounts? ACCOUNTING BASICS - Part 3
T-Accounts are one of the most useful tools in bookkeeping and once you understand them, recording transactions becomes …
3
What is Double Entry Bookkeeping? ACCOUNTING BASICS - Part 4
Double-entry accounting is the foundation of bookkeeping and it’s simpler than you think.
?? Kicktstart your accounting…
4
What are Assets? Explained with Examples
You’ve probably used the word “asset” many times in your life. It’s a fairly common word that we use in our personal liv…
5
What is Owners Equity? Explained with Examples
In this video we’re going to talk about owner’s equity.
?? Kicktstart your accounting journey today. Learn the basics w…
6
What are Liabilities? Explained with Examples
Liability: it’s a word I’m sure you’ve used many times before - possibly without knowing exactly what it means.
?? Kick…
7
The Accounting Equation - Explained with Examples
The accounting equation is the backbone of every balance sheet and it’s easier to understand than you might think.
?? K…
8
Cash vs Accrual Accounting Methods Explained
In this video we’re going to take a look at two different methods of accounting: the cash method and the accrual method.…
9
The Balance Sheet Explained SIMPLY - with EXAMPLES!
Find out what a balance sheet is and how to make a balance sheet for your business or in your personal life with our vid…
10
Single vs Double Entry Accounting Explained for Beginners
If you have started a business, you need to decide whether to use single entry or double entry accounting for your bookk…
11
What is a Debit Note and How to Use Them
Ever wondered what debit notes are and why businesses use them? In this video, we break down what debit notes are, when …
12
What is a Quote, Price Quote or Sales Quote in Business?
Do you run a business that needs to send clients quotes before starting work? In this video, we explain what a quote is,…
13
What is a Receipt?
Receipts are one of the most common documents in business, but do you know why they’re so important? In this video, we e…
14
What is a Credit Note?
Ever needed to adjust an invoice after it’s been sent? In this video, we explain credit notes – what they are, when to u…
15
What is a Purchase Order and How Does It Work?
Confused about purchase orders and how they fit into the buying process? In this video, we explain what a purchase order…
16
Invoices vs Receipts - What is the Difference?
Confused about invoices and receipts? In this video, we explain the key differences between the two, what details to inc…
17
What is Accounts Receivable?
Curious about what an Accounts Receivable Specialist does every day? In this video, we break down the day-to-day tasks, …
18
What is a Current Asset? Explained Simply!
Running a business means dealing with bills and expenses, but what happens if your bank account runs low? In this video,…
19
What is a Non-Current Asset? Explained Simply!
Want to know how to grow your business long-term? In this video, we explain what non-current assets are, why they’re imp…
20
Current vs Non Current Assets - Explained Simply!
Not sure about the difference between current and non-current assets? In this video, we explain how each type of asset h…
21
What is a Current Liability? Explained Simply!
Find out what current liabilities are and how they impact your business with our simple explanation and examples.
?? Ki…
22
What is a Non Current Liability? Explained Simply!
Find out why non-current liabilities are important to the long-term health of your business if used properly.
?? Kickts…
23
What is a Contingent Liability? Explained SIMPLY with EXAMPLES!
In this video, we'll discuss contingent liabilities, an important liability you may not have known you had. Contingent l…
24
Current vs Non Current Liabilities Explained Simply
Wondering about the difference between current and non-current liabilities? In this video, we explain how short-term and…
25
What is an Invoice? (Everything You Need to Know in 5 Minutes)
What is an invoice and how does it help you get paid? In this 5-minute guide, we explain everything you need to know abo…
26
What is Accounts Payable? Explained Simply!
Confused about accounts payable? In this video, we explain what accounts payable is, how it works in business, and why i…
27
Accrued Revenue vs Accounts Receivable - What is the Difference?
Confused about Accrued Revenue vs Accounts Receivable? In this video, we break down the key differences and explain how …
28
What is Accrued Revenue in Accounting? With Examples!
Learn how Accrued Revenue works and why it’s important for accurate financial reporting! In this video, we walk through …
29
Accrued Expenses vs Accounts Payable - What is the Difference?
Learn the difference between Accrued Expenses and Accounts Payable and how they impact your business’s finances!
?? Kic…
30
What are Accrued Expenses in Accounting? With Examples!
Learn what Accrued Expenses are and how they affect your business’s financial statements.
?? Kicktstart your accounting…
31
What is the Difference Between Accounts Receivable and Accounts Payable?
Have you ever been in a situation where you go to call your client’s head office to chase up payment for an overdue invo…
32
How to Become a Certified Bookkeeper For FREE!
Do you want to know how you can certify as a bookkeeper for free and kickstart your career without spending a fortune? C…
33
What Does an Accounts Receivable Specialists Do?
Curious about what an Accounts Receivable Specialist actually does? ??
?? Kicktstart your accounting journey today. Lea…
34
What Does an Accounts Payable Specialist Do In Their Job?
Thinking about a career in Accounts Payable? ??
?? Kicktstart your accounting journey today. Learn the basics with our …
35
What is a Virtual Bookkeeper?
Setting yourself up at home as a virtual bookkeeper is a great way to earn a living. You can set your own hours, choose …
36
What is Bookkeeping and What Does a Bookkeeper Do?
In this video we’re going to take a look at what exactly bookkeeping is, what bookkeepers do on a day-to-day basis and w…
37
5 SIMPLE Steps to Set Up Your Business Bookkeeping
Are you looking to set up a bookkeeping system for your small business? In this video we go through the five main steps …
