Debit, Credit, Done!

Most education professionals underestimate the power of recognition — until they realize how a simple nomination can open doors and boost careers. When Dean Quartermaine was shortlisted for the prestigious PQ magazine’s Public Sector Accounts of the Year, it wasn’t just a personal milestone; it was proof that impactful teaching changes lives. In this heartfelt episode, Dean shares the behind-the-s...

In this episode of "Debit Credit Done," Dean Quartermaine reflects on the journey of content creation over the past months and shares exciting plans for 2026. Join Dean as he discusses the importance of balancing work, life, and content creation, and how community feedback shapes the content he produces. Whether you're an AAT student or a content creator, this episode offers valuable insights and...

Join Dean Quartermaine in this special episode of Debit Credit Done as he shares insights from the AAT Connect and Impact Awards 2025 in London. Discover the inspiring stories of industry leaders, the transformative power of AAT, and the importance of financial literacy in education. Dean reflects on his own journey, the impact of collaboration over competition, and the profound sense of belonging...

In this episode of Debit, Credit, Done! we dive deep into the theory of suspense accounts and error correction for AAT Level 3 Financial Accounting: Preparing Financial Statements. We cover: Why suspense accounts are created The difference between errors that affect the trial balance and those that don’t The two-step process for correcting errors Why suspense must always be cleared to nil The most...

In this episode of Debit, Credit, Done! we break down Control Accounts , focusing on the Receivables Ledger Control Account (RLCA) and the Payables Ledger Control Account (PLCA) . We’ll cover: What control accounts are and why they’re important The structure of RLCA and PLCA Worked examples with credit sales, discounts, payments, and irrecoverable debts How to reconcile RLCA and PLCA with the list...

Thanks for bearing with me — after a short delay, we’re back! In this episode of Debit, Credit, Done! we’re combining two key AAT Level 3 topics: depreciation and disposals . We’ll cover: A clear, 5-step method for handling disposal questions Worked example: straight-line depreciation with £9,500 cash sale How to record trade-ins with part-exchange proceeds Posting depreciation, disposal, and prof...

In this episode of Debit, Credit, Done! we’re tackling inventory valuation — a key area of the AAT Level 3 Financial Accounting: Preparing Financial Statements module. We’ll cover: Why accurate inventory valuation matters for profit and assets IAS 2 rules: lower of cost and net realisable value (NRV) FIFO (First-In, First-Out) explained with examples AVCO (Average Cost) worked through step by step...

In this episode of Debit, Credit, Done! , Dean Quartermaine explains how to adjust accounts so they reflect the correct period — covering accruals , prepayments , irrecoverable debts , and the provision for doubtful debts . With step-by-step examples, journal entries, and insider AAT exam tips , you’ll learn how these adjustments affect both the Statement of Profit or Loss and the Statement of Fin...

In this episode of Debit, Credit, Done! , Dean Quartermaine takes a deep dive into depreciation — what it is, why it’s used, and exactly how to calculate it using straight-line and reducing balance methods. You’ll learn about residual value , why AAT often refers to carrying amount instead of net book value, and how to handle pro-rata depreciation when assets are bought or sold mid-year. Includes:...

In this episode of Debit, Credit, Done! , we walk through the full life cycle of non-current assets — from acquisition and capital expenditure, through to disposal and part exchange. Host Dean Quartermaine breaks down how to post detailed disposal entries using the disposals account , and explains exactly how to handle a part exchange — a common yet misunderstood area in AAT exams. Includes step-b...

In this episode of Debit, Credit, Done! , we move from accounting principles into practical application by tackling the Trial Balance — your checkpoint before preparing financial statements. We cover: What the trial balance is and why it’s used How to structure it using DEAD CLIC Errors it can and can’t detect The role of the suspense account This is essential knowledge for the AAT Level 3 Financi...

🎙️ Series 2, Episode 1 – Principles, Purpose, and the Power of Double Entry Welcome to Series 2 of Debit, Credit, Done! – the podcast for AAT students who want clarity, confidence, and control over their accounting studies. Following the success of our 8-part Series 1, we now dive into Level 3: Financial Accounting – Preparing Financial Statements . In this episode, we: Set the scene for the unit...

🎙️ Episode 8 – Statement of Financial Position: The Snapshot In the final episode of this series of Debit, Credit, Done! , Dean explores the Statement of Financial Position and how it completes the financial reporting picture. You’ll learn how to: ✅ Classify assets and liabilities ✅ Understand the accounting equation in practice ✅ Link retained profit into capital ✅ Prepare a complete and bala...

In this episode of Debit, Credit, Done! , Dean begins with a review of the trial balance exercise from Episode 6 before guiding you through the next big step—preparing the Statement of Profit or Loss . You’ll learn how to: ✅ Identify income and expense accounts ✅ Calculate gross and net profit ✅ Avoid common mistakes students make ✅ Understand how this statement links to the Statement of Finan...

In this episode of Debit, Credit, Done! , Dean explains the role of the trial balance in double-entry bookkeeping. Learn how to list ledger account balances, check that debits equal credits, and prepare your books for the next stage—producing the Statement of Profit or Loss and the Statement of Financial Position. Includes practical examples, common errors to avoid, and a practice task to help sol...

In this episode of Debit, Credit, Done! , Dean guides you through the next stage of the double-entry process—the ledger. Discover how journal entries are posted into individual T-accounts, how to organise ledger records accurately, and why this step is essential before preparing a trial balance. Using clear examples and practical advice, this episode helps AAT students build confidence in sorting...

In this episode of Debit, Credit, Done!, Dean takes you through the essential next step in the accounting cycle: the journal. Learn how double-entry transactions make their way into ledger accounts, and why journals are the bridge between business activity and accurate records. With practical examples and clear links to the DEAD CLIC framework, this episode gives you the confidence to write your o...

In this episode of Debit, Credit, Done! , Dean breaks down the backbone of all double-entry bookkeeping: the accounting equation. Whether you're new to accounting or need a refresher, this clear and practical walkthrough explains how every transaction affects a business’s financial position. Learn the difference between assets, liabilities and capital, and discover why this equation must alway...

In this episode, Dean Quartermaine delves into the fundamentals of double entry bookkeeping, focusing on the DEAD CLIC theory, which serves as a mnemonic for remembering the rules of debits and credits. He explains how every transaction impacts at least two accounts and emphasizes the importance of understanding these principles for AAT assessments and real-world applications. The episode conclude...

Summary In this inaugural episode, Dean Quartermaine introduces his new podcast aimed at accounting students, highlighting the lack of targeted content in the industry. He shares his experiences from the AccountX conference, where he met inspiring figures like Rachel Harris who is making significant impacts in the accounting and bookkeeping fields. Dean emphasises the importance of building a comm...