An introduction to Bookkeeping Transactions

https://www.youtube .com/watch?v=G50dG61RvaA

We were joined by Sam Hannigan from Premier Training who delivered a session on bookkeeping transactions and bookkeeping. The session will cover a review of double-entry and how business transactions are entered into the accounts for credit and cash customers.

14 thoughts on “An introduction to Bookkeeping Transactions

  1. I am so confused by debits and credits. First in this video it said that Sales Accounts was a Credit entry, as was VAT, and Sales Ledger Control = Debit. Then later in the video it seems to say that SCLA is a Credit entry! I don’t understand, I think the different types of accounts, sales account, sales ledger control account, sales ledger, customer accounts etc is making me completely confused!

    1. Sales ledger control account is always debit because this is a trade receivable account (asset), however when customer pay the money then cash or bank become debit and sales ledger control account becomes credit because the amount of receivable reduces as customer paid. Hope you understand.

    2. @Mehedi Khan Thank you Mehedi, it did help. I also realised that ‘sales’ was a credit entry because it is deemed ‘income’

    1. I’ve just started my AAT level 2 about five days ago. Some things are proving easy to understand and others like the daybooks are proving more difficult to understand. I’m waiting for the click moment in my head.

  2. Really enjoyed this video and also understood my debits and credits 😀 I am now confident using the acronym, thank you

  3. Can anyone help me from which subject I should start home learning
    I’m very interested in aat but don’t know from where to start ?

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