Why Debits and Credits AREN'T Backwards

?Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel Accounting Basics Lesson 6. In this episode of Accounting Basics for Beginners, we answer the question - why do Debits and Credits on the Bank Statement seem backwards? Debits and Credits are confusing enough without throwing in the complication that they appear backwards in Accounting. When you Google "debits and credits the wrong way round banking", you'll see that there are 39 MILLION results. That's insane! This episode of Accounting Stuff - Accounting Basics Lesson 6 - is a continuation of our series on Basic Accounting for Beginners and we aim to finally put this issue to bed. In this short video, you will learn: ▪ What phrases such as 'debited to your account' mean. ▪ Why are Debits and Credits backwards in Accounting. ▪ Why Credits and Debits AREN'T backwards. ⏱️TIMESTAMPS 00:00 - Intro 00:38 - Why are Debits and Credits Backwards? ?FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m ? CLOUD ACCOUNTING SOFTWARE ▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N ▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7 ?FOLLOW ME ON ▪ Insta → https://www.instagram.com/accountingstuff ▪ Twitter → https://twitter.com/AccountantStuff ?LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb ________________________ 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! For sponsorship, product reviews, and collaboration, you can email me here: [email protected] ________________________ #accounting #accountingbasics #accountingstuff