[+1] A very nice and simple straightforward look at how QB handles 1) Profit & Loss Reports, 2) Balance Sheet Reports, and how it relates smoothly with the Important Accounting Formula, Assets = Liabilities + Equity.
This is wonderful! Agree that QuickBooks really makes bookkeeping less complicated and easier to manage! Small business owners will definitely find this video very helpful!
This video right here ! Is AMAZING for people like me who are trying to get their small business started up but don’t know a lick of information about bookkeeping with your videos I’m a hands on learner and this really helped me out a lot with you first starting off with talking about something and then showing a picture or graph of what your actually talking about more in depth is amazing and I just want to say I’m grateful I came across your page and I will be watching more of your videos lol it’s a 15 min video but I’ve been watching it for a good hr or two because I’m taking notes but thank you for helping out small business like me ! ! ! Much love 💜
I'm just starting to learn all this and I tend to get overwhelmed so I really appreciate the way you describe the foundations here. My learning style definitely! Subscribed.
This is THE BEST video I have seen explaining bookkeeping and quick books. THANK YOU THANK YOU THANK YOU!!!! Everyone else just try’s to sell a course!!
So this is what bookkeeping is!!! I was planning to apply as a bookkeeper. I really thought it was all about gathering data from emails lol. I did not expect this requires a lot of computations.😂 Thank you for sharing this!!
You’re explanation was wonderful!!!! I use quickbooks for our non profit. Our former director has been training me on and off for a year now but your explanation was so much more valuable!!! I can’t wait to see your other videos.
How hard is this to learn for a career change? What are the challenges in working in this area? Is it tedious? So many selling bookkeeping online without portraying the actual details.
Note: In the 9+ minute mark, you mentioned BS increases or decreases by your income, there are other factors that affect the BS, such as FA purchase, depreciation adjustments or investment in, and then you mentioned that the P/L resets at the end of the year, it actually resets to zero in the beginning of the fiscal / calendar year, where the end of the year is your financial position. Also, at the end of the video, there was 'accrual' on the left side of the summary of the BS, possibly explaining the differences between 'accrual' and 'cash' accounting would be helpful as that is an area that will present some difficulty to bookkeepers. It was a nice video.
This was a really helpful intro video. I’m starting a small LLC self employment and would love some direction as to what other videos I should check out. Thanks again!
You are really good. As an experienced qb user for 20 years this is still super good. I need to teach my lovely gf how to use. You're way better than me explaining. My act said any assets that stay around more than a year go on balance sheets. Less than a year ie consumables so on p/l
Why the quick book doesn't shown as normal Debit side and Credit side in general ledger ? Also the bank account. Is there a way to change the presentation as Dr. & Cr. in all accounts, instead of increasing and decreasing.
I looked into the whole youtube and honestly your video is the only explain very well bookkeeping. Do you have an online course for bookkeeping? I will be the first one who buy your course!
@@ecquickbookstraining Thank you but i look up for a course because i learn by watching and watching many times lol if u come up with a course step by step bookkeeping please let me know.
Hey just a question, did you get trained on quick books or youre just self taught? I want to apply for a bookkeeping job but they all want experienced in QB.
Hello maybe you can help me. I use quickbook 2004. I set up a user account and restrict from other forms including editing of transaction. But user with restriction can still edit the saved transaction. Unless if system is terminated. Ty for response.
I am working on qb online now i have got a client from usa i only had work from australia now we have meeting on monday .can you clear what questions he can ask me about qb interview and about usa accounting rules or tax questions about usa 🙏
Hi Nat, in this video I believe I am using an older version. I will make a note to update this video with a newer version. Thank you for pointing that out.
What if I spend $1000 to buy equipments from my personal account. Can I credit owner investment and debit expenses or I have to credit investment and debit cash then from credit cash and debit expenses? Thank you!
Actually, the value of the equipment you put up into the business is considered as additional investment on your part. You have to record an increase in property / equipment ( which is classified as noncurrent asset) and a credit to equity (additional capital).
You can also do a journal entry in QuickBooks. This journal entry will show how much you put into the business and which of the business account the money went into. Finally, as time goes on, if you want to withdraw your money back, you can write a cheque for yourself. You ledger register will show you a clear breakdown of this activities. I enjoy this process when i am teaching Quickbook Fianancial because a time will come when a business owner will want to use his/her personal money for the business growth and later aim to get his/her money back.
Good job... And I just want to know if you know the developer contact? coz what i see base on your illustration that is my basic accounting treatment. Somehow different from other QuickBook illustrated. I want that type of QuickBook. I highly appreciate your reply. Thanks.
