No problem, they’re recorded on the credit side because it reduces the asset (the amount owed to the business). So a debit to receivables increases the total amount owed to the business. A credit to the receivables reduces the total amount owed. So when the customer pays this reduces the amount owed to the business. We’d therefore credit the receivables and debit the bank.
Great video, short and sweet, thank you
Cheers Will. Looking forward to your content as I journey through my accounting degree! Nice one.
Thank you so much for this explanation. Very clear indeed. Think I now need to watch all your other videos.
Another clearly explained video. Thank you.
You’re very welcome 🙂!
Clear and easy understand :)
You are Good looking on this video. I just got an office at Kings Cross and will start my accounting business there
very informative video many thanks for your help
this was so helpful tysm😊 but i’m confused as to why receipts are recorded on the credit side could u explain pls!
No problem, they’re recorded on the credit side because it reduces the asset (the amount owed to the business). So a debit to receivables increases the total amount owed to the business. A credit to the receivables reduces the total amount owed. So when the customer pays this reduces the amount owed to the business. We’d therefore credit the receivables and debit the bank.
Thank you so it's the opposite to your account as its theres??
Very well explained
Thank you 🙂!
@@Willboardman I was watching your excel tricks and tips do you provide some private lessons as well ?
My exam is in 2 weeks time level 3 management q2022 I am not good at excel need to learn excel
Will you be able to help me ?
So if you just ping through an email to my email in the channel description I should be able to help you!
Thank you so much
Thank you so much!
Thanks a lot
Fabulous
Where do we record dishonored cheques
They’d be recorded on the debit side of the RLCA. To show that the amount is still owed to the business.