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Index
0:00 Introduction
0:20 Five Account Types in any accounting system in any country
1:15 Knowing what's going on behind the forms
1:44 Your job as a bookkeeper
1:51 Debits and Credits
2:08 Sample QuickBooks company for debits and credits example
2:55 Account Types samples
3:57 When you go to school for accounting the first thing you learn is T Accounts
4:39 First thing you do when you open a business
5:00 Start of the trial balance
5:35 One thousand deposit going into the bank is a debit
5:50 Contributing money is an owner's contribution in equity
6:15 Assets and expenses increased by debits everything else is increased by credits
6:55 Go to QuickBooks Online to record a transaction
8:12 What account are the 1,000 going to in the transaction
8:44 Transaction does not affect the profit and loss only the balance sheet
9:32 Check your work, did the transaction impact the sheets the way you expect it to
10:00 Opportunity to pause the video and get caught up on following Seth's example
10:21 Second transaction takes place
11:53 Transaction 2 recorded in T Account
12:33 Record transaction 2 in QuickBooks Online
14:00 Where transaction 2 falls in Balance Sheet and Profit and Loss
15:14 Shows transaction 2 in Profit & Loss and Balance Sheet
15:36 Recording a transaction to receive payment transaction 3
17:00 View of receiving accounts receivable as cash into bank account
17:51 Shows the receive payment in T-Account
18:48 Transaction 4 recording buying a computer
19:26 Buy something it loses cash in bank account or credit card
20:28 Transaction 4 debit bank account credit computer expense
21:07 T4 Record it in T Account
22:49 Record transaction 4 in QuickBooks Online
24:48 Transaction 5 Expense, software purchase debit an expense, credit the asset
25:39 Recording T5 in T Accounts
27:05 Record T5 in QuickBooks
28:26 Adding an account you need when it's missing in QuickBooks Online
29:38 How T5 affect Profit and Loss and Balance Sheet
29:56 If you want a quick review of what was done in the video
30:57 Where to get access to the template used in the video
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