T Accounts Explained in Detail | Double Entry Bookkeeping System - Part 3

The T Accounts are the next steps in mastering the double entry bookkeeping system after you learn how to create Journal Entries. This video explains the role of T Accounts in the Accounting Process and what are the parts of an ideal T Account. Part 1:    • What is Double Entry Bookkeeping System in...   Part 2:    • Double Entry System Part 2 | How to Create...   Subscribe to our channel for more Free Accounting Lessons https://www.youtube.com/c/AccountingZ... Timestamps: 00:00 Introduction 00:31 What are T Accounts? 00:49 Journal Entry Postings to T Accounts 01:00 The T Accounts during the Closing Date 01:10 The Trial Balance 01:26 The Parts of an ideal T Account 01:30 Debits and Credits 01:38 Transaction Dates 01:47 Transaction Description 01:51 Debit and Credit totals 02:07 Net Debit Balance 02:31 Net Credit Balance 02:56 Adding up all net debit and net credit balance 03:20 What's next? 03:31 Outro ----------------------------------------------------------------------------------------------------- Every week we will release Accounting Lectures starting off with the ACCOUNTING Process and then gradually advancing to more advanced Financial Reporting topics. DO YOU.. ► have ZERO experience but you want to pursue Accounting Jobs; ► want to be a HERO on your Accountancy Journey; ► want to level up your career as an Accountant; ► want to supplement your learning of the Accounting Concepts for your ACCA, CPA, and other accounting exams; ► need Technical Discussions and Exercises ► have curiosity about Other Practical Application of the accounting standards discussed by an experienced professional We hear you and got your accounting problems covered! If you have any questions or want to request a lesson... just leave a comment and We will answer them as best as possible! Thanks so much! AccountingZeroToHero