The Bookkeeping Master

19/10/2026

Debits and credits...

For the first 6 months of college, I couldn't understand them. It was so confusing! I became frustrated and questioned whether to quit accounting. BUT look at me now! I've become a double-entry master!

After 17 years of accounting, here are my top debit and credit tips:

1️⃣ PEARLS. Purchase, Expenses, Assets, Revenue, Liabilities, and Sales. P... E... A... R... L... S... Purchases, expenses, and assets (PEA) are debits. Revenue, liabilities, and sales (RLS) are credits. Simple.

2️⃣ Debit is not positive, and credit is not negative. For so long, I thought debits were always money into the business and credits were money out. That is true for the business bank account, but it doesn't apply to other accounts. For example, sales are credits, even though sales are a positive thing!

3️⃣ Practice. The more you do it, the easier it will be. Believe me. It will click. It will also make a lot more sense if you can get practical experience. The theory is great, but it will only take you so far!

Latest video: https://youtu.be/qksggaE0lLA (linked below)
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Covering all essential double-entry bookkeeping principles, includi...

18/10/2026

Happy Christmas Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve Eve 🎄🎁

13/10/2026

Free Bookkeeping Course!

My course has been updated and is ready for 2027 🎉 As always, it's free, and no registration is required.

If you want to be a freelance bookkeeper, run an accounting practice, start a career in accounting, or run a business, you need to know double-entry bookkeeping.

The updated free course: https://www.freebookkeepingaccounting.com/free-bookkeeping-course

Get 90% off double-entry bookkeeping software: https://xero5440.partnerlinks.io/BookkeepingMaster

Have a good week, everyone!

28/09/2026

150! 🔥

That is how many clients I have.

I started with zero. I lost my job 2 weeks after my second son was born. I needed an income, so I started my own accounting practice 😅 I remember my first client. This soon jumped to 3. I started my YT channel and created a website. I started networking. Soon I had 10 clients. The number has grown year on year ever since.

How did I do it?

1️⃣ I built slowly. Starting your own accounting practice is a leap of faith. For a lot of people, it's not just the lack of confidence that is daunting; it's not having an income! For this reason, I started my accounting practice as a part-time gig. A side hustle. There were some initial start-up costs, but the expenses and time commitment were low. These eased the pressure and helped me take my time.

2️⃣ I built a presence. Having an online presence was crucial to my success. Social media, especially YT, created many opportunities. I also built a local presence through advertising and networking groups. The breakfast networking meetings weren't my cup of tea, but they served a purpose and provided essential early business.

3️⃣ I offered a fantastic service. Doing a great job at a reasonable price is key to success. Customers love it. I've never been greedy, and keeping a strong reputation has always been important to me. Happy customers lead to more work. Once my business was up and running, I didn't need to advertise because of word of mouth. I'll forever be thankful to my clients who recommend me to others. Thank you so much!

Start your own accounting practice: https://www.freebookkeepingaccounting.com/start-an-accounting-business

Contact me: https://www.smaccountinguk.com/contact-an-accountant

24/09/2026

Question time! 😎

It's a hard one...

What is the double-entry for a vehicle purchased through financing?

1️⃣ DR Motor Expense, CR Finance Liability
2️⃣ DR Vehicle Asset, DR Interest Expense, CR Finance Liability
3️⃣ DR Motor Expense, CR Bank
4️⃣ None of the above

22/09/2026

Limited Company Essentials 😎

1️⃣ 𝐒𝐞𝐩𝐚𝐫𝐚𝐭𝐞 𝐋𝐞𝐠𝐚𝐥 𝐄𝐧𝐭𝐢𝐭𝐲. An Ltd is separate from its owners. That means the company's assets and liabilities are the company's... Not the owners! This includes cash in the company's bank accounts and money it owes to its suppliers. Because of this, don't assume you can take any amount you wish from the company "because it's yours", and always keep company and personal transactions separate, i.e. don't put personal items through the company bank accounts.

2️⃣ 𝐃𝐨𝐮𝐛𝐥𝐞 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧. Operating through a limited company can save you tax. However, you must be aware of the "double" taxation. This means the limited company pays tax on taxable profits (corporation tax), and owners pay income tax on withdrawn profits (dividends). This means at least 2 tax returns and tax liabilities.

3️⃣ 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐀𝐝𝐝𝐫𝐞𝐬𝐬. The company's registered office address is made public on the Companies House Register. This can be updated, but is often never fully removed. If you don't want a sensitive address, such as a home address, made public, never use it as the company's registered address.

Learn more Ltd company essentials for free on my website.

21/09/2026

Limited Company Essentials😎

1️⃣ 𝐒𝐞𝐩𝐚𝐫𝐚𝐭𝐞 𝐋𝐞𝐠𝐚𝐥 𝐄𝐧𝐭𝐢𝐭𝐲. An Ltd is separate from its owners. That means the company's assets and liabilities are the company's... Not the owners! This includes cash in the company's bank accounts and money it owes to its suppliers. Because of this, don't assume you can take any amount you wish from the company "because it's yours", and always keep company and personal transactions separate, i.e. don't put personal items through the company bank accounts.

2️⃣ 𝐃𝐨𝐮𝐛𝐥𝐞 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧. Operating through a limited company can save you tax. However, you must be aware of the "double" taxation. This means the limited company pays tax on taxable profits (corporation tax), and owners pay income tax on withdrawn profits (dividends). This means at least 2 tax returns and tax liabilities.

3️⃣ 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐀𝐝𝐝𝐫𝐞𝐬𝐬. The company's registered office address is made public on the Companies House Register. This can be updated, but is often never fully removed. If you don't want a sensitive address, such as a home address, made public, never use it as the company's registered address.

Learn more essentials:
https://www.freebookkeepingaccounting.com/uk-limited-company-101

90% off Xero 🎉:
https://xero5440.partnerlinks.io/BookkeepingMaster

16/09/2026

Full video on YT

08/09/2026

New video!!! 🎉

Learn how to run a UK limited company, including Ltd basics, corpor...

07/09/2026

I'm back! 🎉

After a long break, I've returned!

I'm working on a new video about limited companies, covering taxation, accounting, and administrative items. I'll upload the video within the next few days.

In the meantime, let me know your preference in the comments section. I'll go first: A2B2C1