Accrued Expenses Broken Down | Adjusting Entries

💥Adjusting Entries Cheat Sheet → accountingstuff.com/shop
🖊Adjusting Entry Practice Questions → accountingstuff.com/practice-...
To accrue or not to accrue... that is the question. Accrued Expenses are one of the most common types of month end adjusting entries. In this video, you'll find out what they are, and how to accrue an expense using Journal Entries and T Accounts.
I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry...
▪ Intro to Adjusting Entries → • Prepayments and Accrua...
▪ Prepaid Expenses → • How Prepaid Expenses W...
▪ Deferred Revenue → • Deferred Revenue Expla...
▪ Accrued Expenses → • Accrued Expenses Broke...
▪ Accrued Revenue → • Accrued Revenue MADE E...
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#accounting #adjustingentries #accountingstuff

Пікірлер: 475

  • @mariafatimataylor4746
    @mariafatimataylor47464 жыл бұрын

    Amazing how clear you explain everything, the video editing is also the best. Such a talent!

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks for your kind words!

  • @PeterHarveyUK

    @PeterHarveyUK

    2 жыл бұрын

    I agree.

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    @nabahathabdhullah3597

    2 жыл бұрын

    yes i agree great job

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    @randomdosing75355 жыл бұрын

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  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Cheers mate!

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    @randomdosing7535

    5 жыл бұрын

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  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Hey, am I too late? How did the interview go? My advice is to relax as much as possible. Try to be present and connect with the interviewer. Good luck!!

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    @randomdosing7535

    5 жыл бұрын

    @@AccountingStuff I think I did it horrible. Totally nervous. I knew each and every thing they asked and answered them rather jittery way. BTW thanks for your response.

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    @@randomdosing7535 Sorry to hear that. Hopefully it didn't go as bad as you think! I have bombed a few interviews in the past. It has helped me to think of them as learning experiences. What do you think went wrong, and how can you prepare for it next time?

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    @tokolloramalepe Жыл бұрын

    I Found A Gem Right Here. This channel is an Asset.❤

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    @mazenal-hakimi89082 жыл бұрын

    Accounting teachers need to learn from this smart young man !!! Why they dont teach like this?!!!!

  • @mentalmoneypodcast

    @mentalmoneypodcast

    9 күн бұрын

    OMG, I was just coming here to say this. and I NEVER leave comments on KZread videos. I'm learning about this for something outside of an accounting degree, but if everyone taught like this, I would've studied accounting. Cheers James!

  • @MMNNLL2468
    @MMNNLL2468 Жыл бұрын

    8 years of studying accounting and just now that I get it 😅 thank you so much for the helpful video!!

  • @muhammadanwarulhaq5128
    @muhammadanwarulhaq51282 жыл бұрын

    You really have no idea how amazingly you make the concepts looks so very easy. You really are wonderful tutor with great in-depth knowledge & have awesome way to teach. ❤️ Thank you 🙏

  • @ridozeindytaadicandra6417
    @ridozeindytaadicandra64173 жыл бұрын

    This channel literally change the way accountants see accounting, i never had a creative mindset to see accounting like you sir. Keep up the good works!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Rido!

  • @TheElkster
    @TheElkster11 ай бұрын

    I've just finished my AAT Level 2 course (and passed, thankfully!) and am about to start Level 3, which talks about Accruals and Prepayments.... I had a quick peek in the Tutorial book and sort of understood what they were talking about - but your easy to understand - and very likeable way in which you explain, has really helped me to see 'how' all the transactions are posted in T-Accounts (as I use an Excel spreadsheet for my accounts currently! Thanks for taking the time to post... I will be be making time to watch (and like) all of them!!!!!!!!! :D

  • @AA-xk4qu
    @AA-xk4qu2 жыл бұрын

    I've been searching for this whole day. You have covered the end bit when invoices receive what you should do. Thank you so much x

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    No worries, hope you found it useful!

  • @mariannamarianna2319
    @mariannamarianna231911 ай бұрын

    Thank you! This is the best accrual video ever! Not only it is clear but it also goes beyond the basics :)

  • @lewis9599
    @lewis95994 жыл бұрын

    Thank you so much for all your videos, by far the most informative and high quality out there.

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Cheers Lewis :)

  • @Paranav375
    @Paranav3753 жыл бұрын

    These videos perfectly sync with my lecture content! Thanks so much for making these videos to such a high standard!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Best of luck with your studies!

  • @christinaahn1887
    @christinaahn18873 жыл бұрын

    Never seen anyone make learning as fun as you do! Thanks for the great video.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Christina, hope it helped!

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    @100AcreWoodz14 жыл бұрын

    I have been grinding these videos for the past week. You are so much appreciated my man. Thank you!!!

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    No worries Timothy!

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    @zobair28984 жыл бұрын

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  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

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    @MS-es6uq3 жыл бұрын

    probably best accounting videos on YT. and as an accountant I've seen a lot of them. loving it.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks!!

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    @hanhan-ch2ll10 ай бұрын

    Currently preparing for my first exam for ACCT 2101, you're a lifesaver!!!

  • @AccountingStuff

    @AccountingStuff

    10 ай бұрын

    Good luck!!

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    @sweetshado18714 жыл бұрын

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    @jasonkatz60673 жыл бұрын

    This man is literally carrying my grades, thank you!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

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    @sapsalingpusacattalkmaykwe1556

    2 жыл бұрын

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    @emilee25883 жыл бұрын

    Your videos are the easiest to follow that I've seen. Thank you for making these!!!!

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    @AccountingStuff

    3 жыл бұрын

    Cheers! I'm happy to help :)

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    @ilayda90674 жыл бұрын

    You've explained everything very clearly as always. Thanks a lot!

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    @angelina95054 жыл бұрын

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    @AccountingStuff

    4 жыл бұрын

    Great to hear it's making sense, thanks Lana!

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    @hi-vx4lk

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    If you ever are a tutor online I want to sign up 😉

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    @TheRobbo0075 жыл бұрын

    You’re actually helping me rekindle my love for accounting. Thanks mate!

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    @AccountingStuff

    5 жыл бұрын

    That's great to hear!

  • @cassierabe2491
    @cassierabe24912 жыл бұрын

    I really love and appreciate how you presented the topic! Salamat! From The Philippines.

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    @prudenceinoni4690 Жыл бұрын

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    @filopride619 Жыл бұрын

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  • @landonwilliams610

    @landonwilliams610

    Жыл бұрын

    I went from nursing to accounting too! People look at me with so much confusion when I tell them hahaha

  • @filopride619

    @filopride619

    Жыл бұрын

    @@landonwilliams610 Yeah me too! They get very confused as to why and I just say, "people destroy themselves easier financially than physically". So I want to help prevent that.

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    @twinnyinnocent5741

    4 ай бұрын

    same here

  • @doantrangtrannguyen31
    @doantrangtrannguyen312 жыл бұрын

    This is amazing!!! your 10mins video explains the same thing that my CPA 500 pages book does!!

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    @littlemagicpenguin95764 жыл бұрын

    Hey I haven't watched your video for a while, but I still love it so much. Keep on it! Surely recommending it to people I know struggling with accounting!

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks, that would be much appreciated! I'm working on some new videos as we speak

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    @veronicadeleon19643 жыл бұрын

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    @tiitus.crawford4025 Жыл бұрын

    Your videos really help me understand my accounting textbook. Thanks.

  • @shiwalitate55
    @shiwalitate55 Жыл бұрын

    your KZread videos are awesome and it's very easy to understand, It helped me a lot as I never understood accrual and now I am sure what is exactly accrual means and entries. one more thing- you told about the word 'DEALER' in your earlier videos that's also very easy to understand and while doing journal entries I am applying this logic. Please keep posted this kind of videos and you are wonderful tutor. Thanks again sir .

  • @aloadoftrash2634
    @aloadoftrash26343 жыл бұрын

    Great video, you explain things well and the editing is very nice too! This helped me understand it better rather reading the textbook which is really boring. I watched each video in the series, great work

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks! Great to hear it's making sense :)

  • @kavyasharma6358
    @kavyasharma63583 жыл бұрын

    I just love you man . I understood very clearly. I have been struggling for a long time.. so much love and strength to you.❤️

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Great to hear it's making sense :)

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    @milanpintar3 жыл бұрын

    I can tell that you got together for a laugh with your friends and come up with the exaggerated accentuations, but it's a great idea, working well. I even bought all your help sheets.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks for your support!! All the best :)

  • @isaaclaci7147
    @isaaclaci71477 ай бұрын

    I cannot thank you enough for this video. When you talked about the two accounting triggers, the context made sense. I agree with all the comments, you are a Star !!!!!

  • @AccountingStuff

    @AccountingStuff

    7 ай бұрын

    Great to hear it's making sense :)

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    @kennedysanders97843 жыл бұрын

    I have my accounting midterm tomorrow and these videos are reallyyyyy helping me understand the material!

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    @AccountingStuff

    3 жыл бұрын

    Good luck!!!

  • @gariellesamaniego9946
    @gariellesamaniego99463 жыл бұрын

    thank you for making me enjoy in learning more in accounting rather than being exhausted as I suck up these things in my head.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    No worries, I'm happy to help!

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    @Ddstairclimber3 жыл бұрын

    dude I give you credit, your channel makes a good attempt at making accounting cool, if that is ever possible

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Haha, thanks!

  • @amitferman4723
    @amitferman47233 жыл бұрын

    This is just what I was looking for. My profs defined debit as "left" and credit as "right" and asked us to memorize it. Great explanation!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Amit!

  • @thamzhiyong3161

    @thamzhiyong3161

    2 жыл бұрын

    That definition is kinda what professors only remember

  • @roslynpaige4442

    @roslynpaige4442

    11 ай бұрын

    I wonder, are profs even accountants? How can they teaching accounting if they aren't' even an accountant themself

  • @tamersite
    @tamersiteАй бұрын

    Amazing work! You do an excellent job explaining these concepts!!

  • @AccountingStuff

    @AccountingStuff

    Ай бұрын

    Thanks, glad you enjoyed it!

  • @kaceykleineck
    @kaceykleineck3 жыл бұрын

    I am two months into my first accounting class. Your videos are easy to follow and understand, unlike my instructor. Amazing job! Thank you tremendously

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Kacey!

  • @marveloussuperboy6370

    @marveloussuperboy6370

    Жыл бұрын

    Heck same

  • @oscarjim570
    @oscarjim57011 ай бұрын

    You are wonderful.Your explanation is very impressive.Thanks so much .

  • @anthonywurst2548
    @anthonywurst25483 жыл бұрын

    Thanks, man. Your videos are a breath of fresh air. Thanks for making it interesting, man.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Tony :)

  • @Alastair-ix8pz
    @Alastair-ix8pz Жыл бұрын

    Another great video. Thank you!

  • @eirene1998
    @eirene19984 жыл бұрын

    This was what I used to do at work but it is still good to review😊👍Thank you James

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Sometimes it's worth revisiting the basics. Glad you enjoyed it

  • @amh9738
    @amh97382 жыл бұрын

    I appreciate ur time to make these great videos that i find extremely helpful.

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    No problem at all :)

  • @lorraineuy
    @lorraineuy2 жыл бұрын

    You're such a light to this world

  • @lindaxiong7588
    @lindaxiong75884 жыл бұрын

    Can you do a video about contra- accounts

  • @vikash545848
    @vikash5458483 жыл бұрын

    Thanks for this detail video..you go to the indepth concept so we are able to understand it clearly.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    No problem, happy to help :)

  • @juliabelouis1775
    @juliabelouis17753 жыл бұрын

    Thank you !! The whole series is SO helpful. Watching from Toronto :)

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Julia! All the best with your studies :)

  • @ashrafulmahmud7866

    @ashrafulmahmud7866

    3 жыл бұрын

    You are the best teacher

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    🤯 You make it so easy to learn accounting!

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    @mattwestelman93594 жыл бұрын

    Videos are super high quality. Love it.

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Cheers Matt!

  • @iditah
    @iditah10 ай бұрын

    Excellent explanation. Many thanks for your easy way of let one understand.

  • @AccountingStuff

    @AccountingStuff

    10 ай бұрын

    Thank you thank you

  • @PEbro34
    @PEbro343 жыл бұрын

    Just purchased all of your cheat sheets! Wanted to support my virtual accounting professor lol, keep up the great work!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers Juan! Thanks for your support :)

  • @Luzyschannel
    @Luzyschannel Жыл бұрын

    This is really helpful! Thank you!

  • @hayleynonu3974
    @hayleynonu397411 ай бұрын

    Thank u sm for your great works and efforts you put into this video helping me so much for further exams

  • @user-nw4hl5vj7q
    @user-nw4hl5vj7q3 жыл бұрын

    thank you for explanation! your video editing is a another amazing stuff !

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Cheers, glad you enjoyed it!

  • @manuthtechniques3032
    @manuthtechniques30324 жыл бұрын

    You are so great sir, as your videos are helping me a lot. thanks

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    @thomasnithin214 жыл бұрын

    Lockdown marathon update: 27 videos watched 10 videos left to go. Phew

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    @kingtigercrownestate9102

    3 ай бұрын

    Are you in the penitentiary? How did you get locked up?

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    @GraceCreatesLivingSpace

    8 күн бұрын

    @@kingtigercrownestate9102bro, COVID lockdown

  • @victoriarevenco7005
    @victoriarevenco70054 жыл бұрын

    Thank youuuuuu for theses videos , you're way better than my uni teacher!!!!

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    No worries Victoria, you are most welcome

  • @James-ip5gz
    @James-ip5gz3 жыл бұрын

    Your videos are always so helpful. I have a quick question about 9:28. You said invoices are accounting triggers but if I'm not using automatic accounting software and inputting the water bill invoice manually into the GL, could I just use the journal entry below instead of overstating Utilities Expense by 100 and then having to correct it? Thank you. Debit Utilities Expense - 53 Debit Accrued Expenses - 100 Credit Utilities Payable - 153

  • @Credinellatuastoria
    @Credinellatuastoria5 жыл бұрын

    Another amazing video, super helpful, as always!

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Cheers Michele!

  • @ArsenicCriminal
    @ArsenicCriminal3 жыл бұрын

    thank you so much for this. So accurals are accounting tools to account for when an expense is accured but not paid. And their purposes are so that the financial statements are more accurate :)

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Pretty much! But be careful because 'Accrual' can also mean 'Accrued Revenue' so the definition is broader than Expenses

  • @cristinamarrone8515
    @cristinamarrone85153 жыл бұрын

    Excellent explanation, I am an italian bookkeeper but the rules are the same and it has helped me so much !

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thank you! Yes, these basic principles are universal

  • @Precocity12
    @Precocity12 Жыл бұрын

    This channel is very essential it build up my knowledge. Please sir I need economy from a to z

  • @Sarah-ms6uh
    @Sarah-ms6uh2 жыл бұрын

    This is soo helpful thank you soo much !

  • @mariajankowsky
    @mariajankowsky2 жыл бұрын

    Thank you so much! Great staff...simple and easy

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    No problem, you're welcome :)

  • @thasleeminthash4435
    @thasleeminthash44355 жыл бұрын

    Godddddd your amazing .. thanks a lot for making me get this ....... finalllllllyyyyy .... got this accrued thing into my head

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Hey Thasleem! Thanks, glad to hear it's making sense for you!!

  • @infullbloom3844
    @infullbloom38448 ай бұрын

    Wow ! You make accounting so easy. Thank you

  • @AccountingStuff

    @AccountingStuff

    8 ай бұрын

    You're most welcome :)

  • @qingyanwang7081
    @qingyanwang70814 жыл бұрын

    Your videos were totally incredible! I've never commented for any videos before except yours haha

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks! I'm honoured to receive your first comment! All the best

  • @vikeshparmar8429
    @vikeshparmar84293 жыл бұрын

    Wow.... This Video is too Helpfull for my Accounting knowledge Thankyou so much....😊

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    No worries Vikesh :)

  • @nomad_grant
    @nomad_grant6 ай бұрын

    Fantastic explanation as always!

  • @AccountingStuff

    @AccountingStuff

    6 ай бұрын

    Thanks!

  • @muhamadsharizan392
    @muhamadsharizan3923 жыл бұрын

    You're the accounting god❤️❤️

  • @raneilfederico2865
    @raneilfederico28652 жыл бұрын

    Thank you so much for this!

  • @bergaaaaaaa
    @bergaaaaaaa3 жыл бұрын

    You are just amazing!

  • @DT-og7hs
    @DT-og7hs2 жыл бұрын

    Amazing you explained clearly and supper pronounced. Thank you so much dear😍

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    Glad you liked it :)

  • @thasleeminthash4435
    @thasleeminthash44355 жыл бұрын

    i like the method you use to teach ... keep it up ...

  • @AccountingStuff

    @AccountingStuff

    5 жыл бұрын

    Cheers mate

  • @limliangyan8284
    @limliangyan82843 жыл бұрын

    Thanks!!!!!!!!!! High quality content.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    No worries, all the best!

  • @ambroiseondoa7357
    @ambroiseondoa73574 жыл бұрын

    Great video, very explicit

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Cheers Ambroise

  • @frimpongsabatocollins5543
    @frimpongsabatocollins55432 жыл бұрын

    very clear and fantastic explanation.

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    Thanks! All the best :)

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    @ashh6363 жыл бұрын

    YESSSSS I NEED THIS SO MUCH

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    @mary-annewillis20573 жыл бұрын

    Amazing brilliant and talented. Makes it so easy to understand

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks for your kind words!

  • @archanarao_
    @archanarao_2 жыл бұрын

    Thank you for this amazing explanation!

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    You're most welcome :)

  • @perriwallace8639
    @perriwallace86393 жыл бұрын

    💛 thank you! I’ve finally stopped banging my head against the desk

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    No problem, hope it helps!

  • @Sarah-ms6uh
    @Sarah-ms6uh2 жыл бұрын

    I don’t understand anything in school, this will definately help me get a good grade in account.. bless you !✨❤️

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    You've got this!! Best of luck :)

  • @daphne4229
    @daphne42293 жыл бұрын

    All this for a flipping water bill? Accounting is so complicated! Thank you so much for making these awesome videos, I'm brand new to accounting and have to do it online with a textbook our professor has stated is terrible so this is really helping! Can I adopt you as my tutor??

  • @reviindrawan9881
    @reviindrawan98814 жыл бұрын

    Thanks, now i got better understanding about AE

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Nice one! Adjusting Entries can be tricky at first, but they really aren't too bad once you get your head around them

  • @MrBundykins
    @MrBundykins2 жыл бұрын

    Very helpful 😇

  • @cuteotter2165
    @cuteotter2165Ай бұрын

    Thank you so much for these.

  • @AccountingStuff

    @AccountingStuff

    Ай бұрын

    You're very welcome :)

  • @laurenbutler4831
    @laurenbutler48313 жыл бұрын

    i love this guy

  • @Jayorsomething
    @Jayorsomething4 жыл бұрын

    Amazing content brother!

  • @AccountingStuff

    @AccountingStuff

    4 жыл бұрын

    Thanks mate!

  • @Maphip
    @Maphip2 жыл бұрын

    I enjoyed this video with the background sound I understand everything

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    Great to hear it's making sense!

  • @umwhat1574
    @umwhat15743 жыл бұрын

    Great video 👍🏼

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks!

  • @nancyhamacher3047
    @nancyhamacher30473 жыл бұрын

    Very nice how you explained everything 👍

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thank you 🙂

  • @iansmith9103
    @iansmith91032 жыл бұрын

    That intro song today...YESSSS. Got me hype for accrued expenses even though I'm brutal at accounting haha

  • @AccountingStuff

    @AccountingStuff

    2 жыл бұрын

    Haha, glad you enjoyed it :)

  • @jobharath2812
    @jobharath28128 ай бұрын

    Thanks for this great video James... accruals explained to a T 😁🔥👍🏽🧡🕉

  • @AccountingStuff

    @AccountingStuff

    8 ай бұрын

    Thanks, I'm glad you enjoyed it

  • @Azhark94
    @Azhark943 жыл бұрын

    The legend we needed.

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks :)

  • @angieholland9648
    @angieholland96482 жыл бұрын

    You are TOO GOOD

  • @ShabirAhmad-lw4yq
    @ShabirAhmad-lw4yq3 жыл бұрын

    This is what Explanation Weldone

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Shabir!

  • @akankshagupta8041
    @akankshagupta80413 жыл бұрын

    Great Channel!

  • @AccountingStuff

    @AccountingStuff

    3 жыл бұрын

    Thanks Akanksha!