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Prepayments and Accruals | Adjusting Entries

💥Adjusting Entries Cheat Sheet → https://accountingstuff.com/shop 🖊Adjusting Entry Practice Questions → https://accountingstuff.com/practice-... Adjusting Entries are an essential part of the close process in Financial Accounting. This video explains what Adjusting Journal Entries are and how they fit into the big picture of bookkeeping. If you're using the Accrual Basis of Accounting then watching this is a must! You'll see how Adjusting Entries are split into two main groups: Prepayments and Accruals. You'll also find out how these are broken down further into Prepaid Expenses, Deferred Revenue, Accrued Expenses and Accrued Revenue. I'm creating a whole mini-series devoted to this topic which will include worked examples for each of these four types of Adjusting Entry... ▪ Intro to Adjusting Entries →    • Prepayments and Accruals | Adjusting ...   ▪ Prepaid Expenses →    • How Prepaid Expenses Work | Adjusting...   ▪ Deferred Revenue →    • Deferred Revenue Explained | Adjustin...   ▪ Accrued Expenses →    • Accrued Expenses Broken Down | Adjust...   ▪ Accrued Revenue →    • Accrued Revenue MADE EASY | Adjusting...   🔝 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 FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🚶FOLLOW ME ON ▪ Instagram →   / accountingstuff   ▪ TikTok →   / accounting_stuff   ▪ Facebook →   / thisisaccountingstuff   LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whol...   ________________________ 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 #accountant #accountingstuff