ACCOUNTING BASICS for Beginners (Whole Playlist) - SIMPLE vs COMPOUND Journal Entries: Explained in (Almost) 2 Minutes!

👉 Confused by accounting? Download this free cheat sheet: https://accountingstuff.com In this video, you’ll learn the difference between Simple and Compound Journal Entries. You’ll see how simple entries record straightforward transactions with just two accounts, while compound entries handle more complex transactions involving multiple accounts. By the end, you’ll understand how both types follow the rules of Double-Entry Accounting and always balance debits and credits. 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 00:10 - What is a Simple Journal Entry? 00:30 - Simple Journal Entry Example 01:43 - What is a Compound Journal Entry? 01:54 - Compound Journal Entry Example 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mfchsgfw8z ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🚶FOLLOW ME ON ▪ Instagram → https://www.instagram.com/accountingstuff ▪ TikTok → https://www.tiktok.com/@accounting_stuff ▪ Facebook → https://www.facebook.com/accountingstuff/ ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #accounting #accountingbasics #accountingstuff