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In this video, I'll attempt to explain T-Accounts in less than two minutes!

A T-Account is a simple visual tool used in accounting to track transactions in individual accounts. It gets its name from its “T” shape—debits go on the left and credits go on the right.

T-Accounts help us visualise the flow of transactions. Each account has a “normal” side where its balance typically sits. Using the DEALER acronym (Dividends, Expenses, Assets, Liabilities, Equity & Revenue), we can sort accounts into Normal Debit or Normal Credit Accounts. This helps us understand how they increase or decrease.

I’ll walk you through two examples from a fictional business called Lawn & Order. You’ll learn how to record revenue and maintenance expenses using T-Accounts, and I’ll explain each side of the transaction using the rules of Double-Entry Accounting.

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⏱️TIMESTAMPS
00:00 - Intro
00:08 - What is a T-Account?
00:56 - How do T-Accounts work?
01:53 - T-Account Example
03:44 - How do you close a T-Account?

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