A Complete Guide to Adjusting Entries

📚 New! Get my 2nd Edition Accounting Cheat Sheet Bundle → https://accountingstuff.com/shop

In this video, you'll discover everything you need to know about Adjusting Entries. Adjusting Entries are Journal Entries posted at the end of each accounting period to align a business's financial records with the Accrual Method of accounting. They can be categorized into four main groups:

▪ Prepaid Expenses
▪ Deferred Revenue
▪ Accrued Expenses
▪ Accrued Revenue

I’ll break down each type with simple, easy-to-follow examples to help you understand how they work in real-world scenarios. Adjusting Entries are crucial for creating accurate Financial Statements. By the end of this video, you'll have a solid grasp of how they work and why they’re so important.

🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel

⏱️TIMESTAMPS
00:00 - Intro
00:44 - What are Adjusting Entries?
08:14 - Prepaid Expenses
16:58 - Deferred Revenue
26:11 - Accrued Expenses
37:48 - Accrued Revenue

🔎FAQ
▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m

🔝 CLOUD ACCOUNTING SOFTWARE
▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mf...
▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa
▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada

🚶FOLLOW ME ON
▪ Instagram →   / accountingstuff  
▪ TikTok →   / accounting_stuff  
▪ Facebook →   / 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