That's a wrap on the Adjusting Entries mini-series! You can find links to each video right here: ▪ Intro to Adjusting Entries → kzread.info/dash/bejne/emSCmdaviNiwnLg.html ▪ Prepaid Expenses → kzread.info/dash/bejne/hHlr2dSfnKm1d6Q.html ▪ Deferred Revenue → kzread.info/dash/bejne/eGWusLNqp8rHZ9I.html ▪ Accrued Expenses → kzread.info/dash/bejne/a5WOmKV8mpDPldY.html ▪ Accrued Revenue → kzread.info/dash/bejne/aZ2WsJRuhqbcdso.html ▪ WHOLE PLAYLIST → kzread.info/head/PL5zKSeS09l31dhHvwhS4sVjcckQSPGqtp

@richard3432-t5n

5 ай бұрын

Error, "Accrued Revenue..."earnt for the client we haven't built for client,". Should be "billed"?

@AccountingStuff

5 ай бұрын

Yes it should be billed@@richard3432-t5n

I must say, you are good! You explained in less than 10 minutes what took my lecturer 2 hours.

@AccountingStuff

4 жыл бұрын

Thanks Bella!

@kgabisopoto5039

2 жыл бұрын

Honestly

@sallyho146

Жыл бұрын

@@AccountingStuffwe don’t have an accrued account. So I booked it in the Other AR non ledger account. My accounting manager boss told me to book it in the AR sub ledger account 😂. Btw, where do you group your accrued revenue account in assets section? Under current asset section or else

You gotta respect the filming and editing put into this. Respect my guy

@AccountingStuff

4 жыл бұрын

Cheers Jack :)

I'm making accrual adjusting entries for an audit, and the accrual expense/revenue videos are priceless in helping me take the right steps. Thank you!

OMG! Where have you been all my life 💃💃 Thanks

This is terrific James. I've been struggling with adjustments on the old multicolumn worksheets. So showing us your T accounts has been so helpful to my learning. GREAT VIDEO!

You're a fantastic teacher. I wouldn't be making it through my course without your videos. Thank you!

HANDS DOWN!! THIS IS THE BEST KZread CHANNEL! PRODUCTION LEVEL......INTERACTION LEVEL....HELPFUL!! WHAT MORE I CAN ASK FOR! LOVE FROM BANGLADESH!

@AccountingStuff

5 жыл бұрын

Haha, thanks mate! Best wishes from Canada

@niloykarmaker1024

5 жыл бұрын

@@AccountingStuff so you are from CANADA? I thought you are an AMERICAN.

@a.c.n.9421

5 жыл бұрын

Seriously!!!

@AccountingStuff

5 жыл бұрын

@@niloykarmaker1024 I'm from the UK but I live in Canada

@niloykarmaker1024

5 жыл бұрын

@@AccountingStuff hmm.. now it goes with your akcent.

I LOVE your examples, really makes the things way easier to remember!

@AccountingStuff

4 жыл бұрын

That's great to hear, thank you!

You are a literal life saver. I appreciate you taking the time to explain the concepts slowly and carefully, wouldn't have made it through ACC2430 with out you thank you!

I am taking Accounting courses online and I am so happy to have found your channel. Seeing it as you put it up in your videos are a huge help! Thank you.

Man I love you, you're a legend. Honestly don't know what I would have done at my exams without you. And I start enjoying accounting now ! Thank you so much

@AccountingStuff

4 жыл бұрын

Cheers Cyril! Hope the exams went well!!

Absolute legend this man. Explaining things in simply in entertaining fashion. Will definitely buy the cheat sheet. My favorite YT channel!

@AccountingStuff

4 жыл бұрын

Thanks and cheers for your support!

You made accounting very interesting. You're a great teacher. Very clear, precise and entertaining. Your channel is the best accounting channel on KZread. Thanks, James! This series hasn't finished yet, right?

@AccountingStuff

4 жыл бұрын

Thanks Soe! Yes, the Adjusting Entries Mini-Series is complete. But plenty more Accounting vids coming soon

THANK YOU SO MUCH.. You have no idea how much these videos have helped me. I bought the cheat sheet and I am sure I will use it tons. BEST VIDEOS ON LINE

@AccountingStuff

5 жыл бұрын

No worries, it's great to know that the videos have helped you out. I hope you find the cheat sheet helpful!

This is as far as my class goes thanks for everything!

@AccountingStuff

4 жыл бұрын

No worries, you're very welcome! All the best

You are Awesome!!!! I always had a hard time understanding accounting...till now. You are clear and concise and NEVER boring!!!! Not to mention ur VERY EASY ON THE EYES! Thank you 😊 so much.

@AccountingStuff

5 жыл бұрын

No worries Lydia, you are very welcome!

I have to say your channel is the best one I found during this quarantine !! Thank you very much for helping !!

@AccountingStuff

4 жыл бұрын

Thanks Sally! I'm happy to help. Hope you're keeping safe!

Thanks for all the hard work you put into explaining accounting. Super impressed with how effective and efficient your teaching style/ accounting logic is.. really helped out. This is a subject in finance that often gets underappreciated yet it's essential. Much respect

@AccountingStuff

3 жыл бұрын

Thanks for your kind words!!

I just want to say you helped me a lotttt, I already watched half of your videos. You were able to explain accounting stuffs easily. More videos to come James, thank you so much. More subscribers to come🥳

@AccountingStuff

3 жыл бұрын

Thanks Kim, more videos are coming soon :)

Just bought your cheat sheet bundle. Please continue showing examples in quickbooks online for the small business owners out here watching your videos. Thanks!

@AccountingStuff

3 жыл бұрын

Thanks for supporting the channel!! I appreciate it. Cheers for your suggestion

Thank you so much!!! Your vids got me an A in my midterms. I have my finals tomorrow and I’m super nervous but your videos are helping a lot!!!!!!

@AccountingStuff

4 жыл бұрын

Good luck!!!

Man, this is amazing! I need to watch over this again tomorrow. Thanks for recommending that video. I understand everything, although, it needs to sink in. I can't show enough appreciation. Thank man! (I'll check out the PFD too)

@AccountingStuff

4 жыл бұрын

No problem, sometimes it helps to look at a few scenarios to fully appreciate a concept.

Each video is very useful to improve my English and in particular Accountung English! Many thanks, greetings from Italy

@AccountingStuff

5 жыл бұрын

Glad to hear it Flavio! All the best from Canada

yo i know you might not see this but you made me sooooooo happy helped me alot for my exam tomorrow shared it with my friends thay absoloutly loved it

Just love your vibe and energy and make Accounting seem a little easier

@AccountingStuff

4 жыл бұрын

Thanks Charnisse, all the best with your studies!

Love your videos! This channel definitely needs more attention! It would be awesome if you made a video on the closing process!

@AccountingStuff

3 жыл бұрын

Thanks for your suggestion!

Bought! Will come very handy next year for Financial Reporting module 👍🏻

@AccountingStuff

5 жыл бұрын

Legend!

I just bought adjusting entries cheat sheet.. Really useful. Thanks bro!! 💯💯 Happy to support ur work!

@AccountingStuff

4 жыл бұрын

Thanks for your support! I really appreciate it

Accounting aside, these videos are insane. The amount of effort being put into them is remarkable. Congrats homie

@AccountingStuff

3 жыл бұрын

Cheers Pablo!

This series has been extremely helpful - thank you so much

@AccountingStuff

2 жыл бұрын

You're very welcome!

this is such a blessing. Thank you so much!

bought it! its been very helpful. Thank you for sharing such knowledge.

@AccountingStuff

4 жыл бұрын

Awesome, thanks Carolyn! All the best

I have learned more watching these videos than my lectures.. thank you!!

@AccountingStuff

3 жыл бұрын

No worries Manny, you're most welcome :)

Thank you. This video helps me a lot. before I watch it all was mixed up in my head but know it’s all clear and my work is becoming very easy.

@AccountingStuff

5 ай бұрын

Great to hear it's making sense :)

i enjoyed this one, the cloud in my mind started to clear on this episode. Thank you!

@AccountingStuff

2 жыл бұрын

No problem :)

why do accounting teachers not explain things like this, so simple, so understandable, so clear

@AccountingStuff

10 ай бұрын

Glad you found it useful!

You are amazing man, this videos are so much helpful. Ur doing a great job.

@AccountingStuff

4 жыл бұрын

Thanks Dorel!

Thank you so much. Im struggling a lot with this adjustment through book. Easy to understand now

@AccountingStuff

3 ай бұрын

Great to hear it's making sense :)

Thank you, this was extremely helpful and I appreciate you putting this out

Wow excellent work in the explanation. It’s so much easy to get this when you said “hold it temporarily in the BS”

@AccountingStuff

Жыл бұрын

Great to hear it's making sense :)

Wow! You are such an outstanding teacher! Thank you x1000!

@AccountingStuff

2 ай бұрын

Happy to help!

Very informative, helpful videos . Thank you for making it easier to me :)

@AccountingStuff

5 жыл бұрын

No worries Ankita! It's great to hear that accounting is becoming easier for you.

What a relief! Thank you for helping.

@AccountingStuff

2 ай бұрын

You're very welcome :)

I'm currently a 12th grade student learning accounting. Your videos helped me a lot in understanding the complexity of the subject. I've also got pretty high grades so thank you!!

@AccountingStuff

2 жыл бұрын

Congrats on your high grades! Great to hear it's going well for you :)

fantastic video. You did a great job making this really simple to understand

@AccountingStuff

4 ай бұрын

Thanks, glad you enjoyed it :)

Thanks James for clarifying the issue which was once really confusing for me.

@AccountingStuff

3 жыл бұрын

No problem, I'm happy to help :)

purchased it... love that you are monetizing!

@AccountingStuff

5 жыл бұрын

Cheers Hector!

Just purchased all your sheets 🎉Thank You!!

@AccountingStuff

11 ай бұрын

Thanks for your support!

Bro you are the Great Clear all the query

@AccountingStuff

3 жыл бұрын

Thanks buddy :)

Explained very nicely and simpler way

@AccountingStuff

2 жыл бұрын

Thanks!

Love this channel. Waiting for a video on 'Inventory'.

@AccountingStuff

5 жыл бұрын

Cheers Sameed, and thanks for your suggestion!

Great Stuff! You are one talented guy.

@AccountingStuff

3 жыл бұрын

Thanks for your kind words!

Favorite Accounting Channel :)

@AccountingStuff

3 жыл бұрын

Thanks Leovelyn!

awesome explanation! Thanks!!!

@AccountingStuff

4 ай бұрын

No problem, hope it made sense :)

Hi,,, you are providing a great material especially for someone like me know nothing about accounting but with your videos i think i know much more, I have bought the adjusting entries cheat sheet, it is great, but I request you please to make more detailed cheat sheets for all 4 types of adjusting entries, for example for the Pre-paid expenses , how it is recorded, and adjusted and readjusted and what accounts are affected in both income statement and balance sheet .... this would be great for us to understand it more and memories it :) Thank you

@AccountingStuff

4 жыл бұрын

Hey Usama, thanks for your suggestion! I'll look into that

You’re a life saver!

@AccountingStuff

11 ай бұрын

Thanks! Glad I could help

Well explained. Thanks

Please make a video on UNEARNED REVENUE VS OUTSTANDING REVENUE! LOVE FROM BANGLADESH IN ADVANCE

@AccountingStuff

5 жыл бұрын

Hey Abir, cheers for the suggestion!!

Keep going mate, i like ur thumbnails and contents

@AccountingStuff

5 жыл бұрын

Thanks Jeremy, I don't plan on stopping anytime soon

Thanks for another great video! :)

@AccountingStuff

3 жыл бұрын

You're most welcome :)

The example is genial. Good job.

@AccountingStuff

4 жыл бұрын

Thanks buddy

Just got through this whole mini series, wow, very nice! I can’t help but want to find some middle ground between the cash basis and the accrual basis, but not that modified cash/accrual basis that government entities use. Here is an idea that I cannot get out of my head: IBR basis. The IBR basis (Invoice-Bill-Receipt basis) recognizes revenue when an invoice or sales receipt is generated and recognizes expenses when a bill or purchase receipt is generated. This would eliminate the need for these adjusting entries, and would place the focus back on the accounting triggers themselves. I argue that the focus should be placed on the accounting triggers, especially when focusing on the accruals side of this mini series, and the reason is that for those who have seller/buyer relationships on account, you wouldn’t and shouldn’t expect cash to change hands until after an invoice/bill is created. I’m interested to hear the communities response!

The best !!!!!!!!

Thanks alot from India..I hope i can use the understanding in cpa exams too

@AccountingStuff

3 ай бұрын

The basic concepts that I cover in my videos are applicable everywhere

Thanks a Lot - Perfect Videos

@AccountingStuff

5 ай бұрын

You're very welcome :)

Do cover irrecoverable debts! Your videos are really helpful for my accounting exams!!

@AccountingStuff

5 жыл бұрын

Thanks for the suggestion, I'll keep it in mind!

Very informative series. I bought the cheat sheet too. Good work ma'man.

@AccountingStuff

7 ай бұрын

Cheers and thanks!

@jamese.jonesjr.1751

7 ай бұрын

You're welcome! @@AccountingStuff

Solid 10/10 thank you so much

@AccountingStuff

3 жыл бұрын

Cheers Harold :)

You are the best

Fantastic playlist, thank you Sir

@AccountingStuff

3 жыл бұрын

Thanks!

Explained it better than Becker for FAR!! Thanks!

@AccountingStuff

5 жыл бұрын

Thanks Vinit!!

thanks for the video

you should do financial statement analysis next... vertical & horizontal analysis, etc.

@AccountingStuff

5 жыл бұрын

Hey Giancarlo, cheers for the suggestions!!

brilliant

Hi, brilliant stuff, very helpful while I study financial accounting. Any chance for similar videos on IRRECOVERABLE debts and irrecoverable debts paid as well as ALLOWANCES for Receivables?

@AccountingStuff

4 жыл бұрын

Hey Anna, thanks for your suggestions!

Great work dude

@AccountingStuff

4 жыл бұрын

Cheers :)

Genius!

Ur explanation to good ❤

@AccountingStuff

Ай бұрын

Thanks, I'm glad you found it useful :)

Nice job

@AccountingStuff

3 жыл бұрын

Thanks Ahmed!

bought the cheat sheet!

@AccountingStuff

3 жыл бұрын

Thanks for your support!

Hello James , your videos have helped me greatly in my studies. Please can you do a video on accrual /prepayment accounting for when you have a bill that’s for 3 months. Say you’ve received a bill for jan, feb, and March , you are billed in March for the three months. How do you account for each month in the books, and adjusting for them. The question papers I’ve used to practice on and tested on, do not specify exactly when the company pays the bill. It gives you when they year ends but that’s it. Say it’s feb, do you account for January’s “ earned” part of the bill in the books or do you account for both jan and febs “earned” portion of the bill? In the final accounts. I’ve been puzzled by these type of questions whether it’s accrued or prepayment adjustments in the final accounts. Please can you help.

@AccountingStuff

3 жыл бұрын

Thanks for your request!

very nice video. One thing that should be mentioned is that Revenue is generally booked when there is certainty and agreement from the client and the service has been provided. You may have done work, but if there is no acceptance, in any form, such as a contract or statement of work, revenue would be compromised and you would not be able to record it.

@AccountingStuff

4 жыл бұрын

True, I might have to make a another video on Revenue Recognition

@atdepth000

Жыл бұрын

​@@AccountingStuffWhy did you record revenue in June when there wasn't an invoice yet?

👏👏👏 Great

@AccountingStuff

3 жыл бұрын

Thanks :)

How is it different from sales in excess of invoicing/billing for point-in-time revenue recognition?

Thank you for helping me obtain my degree

@AccountingStuff

4 ай бұрын

Congrats on getting your degree! That's all you :)

Hi. I have a question.Then at the end of this Example after received the cash i need to post 3 journal entries or just 2 ?

Not sure why someone would do a GL entry instead of issuing an invoice if the work completed in a period, but I can see if the work flowed over multiple periods particularly year end where a estimate of earned income should be recorded. Then there is the issue of sales taxes. Record them as revenue is earned or when the invoice is issued? I must admit that I have gotten lazy in monthly adjustments, but by watching your videos it offers a refresher of what we should be doing if rules are to be followed.

@AccountingStuff

4 жыл бұрын

Hey Rick, sometimes you aren't allowed to bill until you hit a certain milestone. Or the invoice doesn't get approved on time. It happens surprisingly often actually. Sales tax is recorded once the invoice is issued.

Hi James i am abit confused with entry of sales invoice, when the sales invoices is posted then revenue will be credited again in july and it will be double entry unless we debit revenue and credit the accured revenue to nullify the effect.Please correct me if im wrong.

So do I understand correctly that if one bills/sends an invoice at the same moment of the delivery of the goods or services it will be a debit of the accounts receivable and there would be no accrued revenue? Or do they exist next to eachother?

Hi James, can you do a video about adjusting entries for bad debts and doubtful debts allowance?

@AccountingStuff

5 жыл бұрын

Cheers for your suggestion Tom!

Can you please make a video about account receivables that are not received and the bad debt thing?

@AccountingStuff

3 жыл бұрын

Thanks for your request!

Hello, I have a question. If the company received a good in June, the company paid the invoice in June but by error the invoice was posted only in July. Should I do a adjusting entry? Thanks

Those charts which you are showing. I would like to purchase them. Can you make them available for us to buy in India. In Indian currency?? Thanks

tanx bro

@AccountingStuff

5 жыл бұрын

No worries Berhanu!

Whats the difference between accrued revenue and accounts receivable ??

Good Explanation but adjustment entries always difficult in modern accounting softwares.

Tq, Financial Accounting shifu...how about starting a series on Management Accounting, as well?...

@AccountingStuff

Ай бұрын

Thanks for your request!

where did the account receivables come from?

James, could you please also aay whic h document suppose to be in this or that event/transaction. Thank you

@AccountingStuff

4 жыл бұрын

Cheers for your suggestion!