Accounting Basics: Debits and Credits Explained

09/08/21 • 4 min

Ready to learn some more accounting basics? Today we look at debits and credits in our debits and credits explained episode!
This accounting stuff isn’t hard when you know the basics and understanding debits and credits accounting is one of the things that any good business owner should try and wrap their head around.
Come with me as I dive into this accounting 101 series and show you how we do accounting in Australia. The principles and accounting basics in Australia are fairly standard practice but it’s always good to understand the nuances.
If you need an Australian accountant specifically for any nonprofit needs, then please reach out and I would be happy to help or point you in the right direction.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

Right Source Empowering Your Purpose Is Ours.

Previous Episode

Introduction to Financial Modelling

If you’ve ever wanted to know what a financial model is and why an how you’d use one then this episode is essentially a financial modelling for beginners video!
Financial modelling forecasting is also discussed as a way of projecting what you might expect financially in the future. Similar to a weather forecast :)
Dive in with me now as we look at financial modelling for startups & small businesses as well as non profits too!

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

Right Source Empowering Your Purpose Is Ours.

Next Episode

3 Cash Flow Management Strategies To Keep Finances Flowing

Do you have cash flow management strategies set up in your business to account for your daily dollars? Do you look at your numbers and have a grasp on your cash flow?
Cash flow management is key in any business. Understanding how to keep an eye on what goes in and out and creating strategies so that it’s easier to see if and when something goes wrong is vital. Cash flow management for small business and nonprofits should be a responsibility tasked to your accountant or bookkeeper to ensure that your daily cash flow (and business expenses) isn’t exceeding its limits.
Learning how to manage cash flow in small business or really learning how to manage cash flow for a business of any size will be one of the duties that help you become profitable and not fall into a dire situation.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

Right Source Empowering Your Purpose Is Ours.