My monthly bookkeeping system in 5 steps

Подписаться 44 тыс.

Просмотров 73 тыс.

50% 1

Here is a video from by Bookkeeping DIY Blueprint where I show you my system for doing your own bookkeeping in 5 monthly steps.
___________________________
Remember to subscribe so you get my latest videos as soon as they come out. Check out the links below for more info and helpful free resources.
Follow me on Instagram @vmwasek for Shopify bookkeeping tips, inspiration, and some behind-the-scenes looks at what we're up to: / vmwasek
Get the free Bookkeeping DIY Blueprint: My small business owner's guide to confident bookkeeping:
courses.5mbacademy.com/course...
Do you have a question about QuickBooks Online? Join my community of like-minded business owners and bookkeepers where you can get all your questions answered - join my FaceBook group at: bit.ly/2Am1lLQ
Check out my blog at 5MinuteBookkeeping.com for the best free QuickBooks Online training, tutorials, tips & tricks to help you streamline your bookkeeping and maximize profits: bit.ly/2A4dCBe
Follow me on Instagram @5minutebookkeeping for bookkeeping tips, inspiration, and some behind-the-scenes looks at what we're up to. / 5minutebookkeeping
**Special discount: Get 50% off the monthly price of QuickBooks Online for the first 3 months with this link: quickbooks.grsm.io/VeronicaWasek
Recommended playlists:
Bookkeeping DIY: bit.ly/2SfGuin
e-commerce accounting: bit.ly/36SDaRV
QBO Training: bit.ly/3ocCnV7
**Affiliate link

Хобби

Опубликовано:

28 июл 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 78

@user-pl6tg4ms5o 2 месяца назад

Thank you very much, simple and practical, I really appreciate it.

@5MinuteBookkeeping 15 дней назад

Glad it was helpful!

@ahavataxservice3427 5 лет назад

Good Info Veronica 👍 Organization, accuracy and consistency is key in bookkeeping.

@victorcampecino9779 4 года назад

I'm refreshed by this workflow. Thank you VW

@5MinuteBookkeeping 4 года назад

You're welcome!

@moniqueguicheteau3379 4 года назад

Thank you Veronica, very good information. Much appreciated.

@5MinuteBookkeeping 4 года назад

You're welcome Monique!

@esmargravador8223 Год назад

Thank you so much Veronica. Very mch helping ❤😊

@5MinuteBookkeeping Год назад

Happy to help!

@denisebrown-puryear2769 4 года назад

Great simple and to the point video. This will definitely help me to get my books better organized. I like the step-by-step presentation! Helps a lot! Thank you.

@5MinuteBookkeeping 4 года назад

Glad it was helpful!

@saritaylor3648 3 года назад

Love your work hun. Love to see a visual from starting a new business or coming into a business as a bookkeeper from adding all accounts etc. As a series

@5MinuteBookkeeping 3 года назад

Thanks for the suggestion Sari.

@denisecanney3579 3 года назад

These directions are very clear and understandable, thank you!

@5MinuteBookkeeping 3 года назад

You're very welcome!

@savannahsuttle2742 3 года назад

I super appreciate how you break this down. Just discovered you today and am about to go look at a bunch of your videos. Very helpful for a small business owner.

@5MinuteBookkeeping 3 года назад

Glad it was helpful!

@SCLana 3 года назад

Thank you sooo much, you're is my hero, so helpful. I am watching every your video, learned and appreciated your help, your hard work. Amazing!!! Thank you again.

@5MinuteBookkeeping 3 года назад

You are so welcome

@crodriguez11204 4 года назад

Very good info Veronica! Thanks!

@5MinuteBookkeeping 4 года назад

You're welcome!

@lurlinebrown5629 3 года назад

Well appreciated Veronica, I am so grateful for finding your video today.

@5MinuteBookkeeping 3 года назад

Glad it was helpful!

@traceygoulding8583 4 года назад

Very good system Veronica! I am just starting out with my first client, and by building a good cycle like this, will make me become the best bookkeeper I can be. Thank you.

@5MinuteBookkeeping 4 года назад

You're welcome. You've got this!

@fluidaccounting2315 3 года назад

Hi Tracey, we have also started the and working on our first client. Good luck with your business. Are you on linked in?

@cymboldesign5186 3 года назад

Great workflow!

@5MinuteBookkeeping 3 года назад

Thanks!

@thebossettelife2442 4 года назад

Thank you Veronica. I have been looking for a quick straight to the point but thorough explanation of the bookkeeping and workflow process!!! And I found it in this video! I’m a fan! #NewSubscriber

@5MinuteBookkeeping 4 года назад

Thank you so much Krissy!

@elove2.038 4 года назад

Me too👍

@ishitashah4432 2 года назад

Veronica,u seem to be boon for me.. u really simplify the way to understand QBO..Enjoy watching your tutorials!!! Much love from India 🙏🏻

@5MinuteBookkeeping 2 года назад

Thank you so much, Ishita.

@frederickkyere1052 Год назад

Excellent presentation. Kudos to you.

@5MinuteBookkeeping Год назад

Glad you liked it!

@nadeenmei8906 4 года назад

Excellent video I've ever watched! Can you please do more videos regarding how to analyze income statement, balance sheet, and cash flow?

@5MinuteBookkeeping 4 года назад

Hi Nadeen. I have an online course showing how to read and interpret financial statements. You can learn more about it here 5mbacademy.teachable.com/p/unlock-your-financials If you're looking for videos on how to review and diagnose problems in the financials, then check out my videos here ru-vid.com/group/PLtA2Sdap7ZRHJ0jqp7KaArOuvXFbPtp4P

@MeltemS2 4 года назад

Thank you

@5MinuteBookkeeping 4 года назад

You're welcome!

@cameronisenor7126 2 года назад

Fantastic stuff. I have many questions still. We break our daily sales further into individual products like beer; Liq; wine; food ,and retail. An example would be breaking sales into categories like pub beer or Beer store beer. I know it’s a bit overkill but I like to be able to see at each area to be able see our food,liq costs

@5MinuteBookkeeping 2 года назад

Hi Cameron. If you want to track your costs by specific categories, you would need to categorize your expenses by those categories. You would need to the desired account categories to the chart of accounts.

@cameronisenor7126 2 года назад

@@5MinuteBookkeeping thank you for the reply. Much appreciated. Yes I have done that. My biggest challenge has been my opening inventory. I have been the GM of a pub and Beer store for 21 years. The pub was sold and the new owners have leased the business back to me. Total time the pub was not open was the 5 days during the closing and the date of possession for us aug 4th. There was a $46,722 inventory balance. We paid half up front from some of our opening equity. The other half is due with a bit of interest on sept 30th. What is the best way to record this? Thank you 🙏🏻

@accountingprinciples7760 4 года назад

great video

@5MinuteBookkeeping 4 года назад

Thanks!

@ericjeter2223 2 года назад

thank you

@5MinuteBookkeeping 2 года назад

You're welcome

@awambowe1830 4 года назад

good explination

@5MinuteBookkeeping 4 года назад

Thank you Awa!

@carried3630 3 года назад

Do you have this as a written procedure or checklist? I would love to make this part of my daily practices. But I need a list to go by I can't remember everything. Thanks so much this is so helpful! Exactly what I know will help get me on track and caught up. Otherwise I feel like it's just a confusing Merry-Go-Round of accounts and transactions

@5MinuteBookkeeping 3 года назад

Hi Carrie. Sign up for my free Bookkeeping DIY Blueprint here courses.5mbacademy.com/courses/bookkeeping-diy-blueprint. It includes the 5 steps and lots more.

@MekonenGelera Год назад

Very nice

@5MinuteBookkeeping Год назад

Thanks.

@jajasatorashi136 3 года назад

Hope you can make a video about Bank Reconciliation

@5MinuteBookkeeping 3 года назад

Hi Jenny. If you can't find a video in my RU-vid channel, then look for a tutorial on my blog 5MinuteBookkeeping.com. I have at least one article on how to do a bank reconciliation.

@jaimeehager6646 3 года назад

Do you have a video on how to manage the inventory on Quickbooks after making a journal entry for Shopify sales? Journal entries do not record the inventory that was sold in those sales - so what would be the step to record that? :) Thanks!

@5MinuteBookkeeping 3 года назад

Hi Jaimee. Check out this video ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Jf0JfDaaLpE.html

@ghurghur 4 года назад

that's good.

@5MinuteBookkeeping 4 года назад

Thank you.

@jorge-sw3wh 3 года назад

This is great 👍.....where can I see more videos ??

@5MinuteBookkeeping 2 года назад

Hi Jorge. I think you found all my videos already. They're all in my RU-vid channel, 5 Minute Bookkeeping.

@normanocampo4466 2 года назад

HI, Veronica, thanks for the heads up, so it is BETTER to keep all the records in order monthly and save it so that when the yearly reports come, it is very EASY just to retrieve all the records and reconcile it for easy tracking?

@5MinuteBookkeeping 2 года назад

I'm not sure I understand your question. If you want to attach receipts to transactions in QBO, you could use an app called Dext to do that. Aside from that, you would not want to spend time at the end of the year matching receipts to transactions - that would be very time consuming. I hope I understood your question, if not, please let me know.

@danila_am_i Год назад

Thank you. Tell me please if you know. Maybe exist Apps for Profi people? I will just try working as self-employed.

@5MinuteBookkeeping Год назад

Hi. I don't know what Profi is.

@debbies9838 2 года назад

I want to start my career at a bookkeeper, any information on how to start on my training. I dont have experience or knowledge

@5MinuteBookkeeping 2 года назад

Hi Debbie, you should start with bookkeeper training first. Take a look at Bookkeeper Launch and Universal Accounting.

@angietorres8227 3 года назад

Hi Veronica How can i sort your videos by topics?

@5MinuteBookkeeping 3 года назад

There is no way to do that in RU-vid. You can look at my Playlists or use the search field to find specific topics.

@dennisalexander1806 3 года назад

What are bank feeds

@5MinuteBookkeeping 3 года назад

That's a great question Dennis. Those are the transactions from your business bank and credit card account that "feed" into your QuickBooks file. You have to connect QBO to your business bank and credit card accounts first.

@loric1909 4 года назад

When you enter transactions manually from paper receipts, invoices, etc, are you saving those for any reason or are they not needed after recording?

@5MinuteBookkeeping 4 года назад

We don't enter transactions manually for clients from paper receipts and invoices. We collaborate with our clients on their books and are not doing after-the-fact bookkeeping. However, we receive any documents from our clients electronically and they are stored in Box, our cloud document-management app.

@loric1909 4 года назад

@@5MinuteBookkeeping 3 min into the video there is a note about entering transactions manually under the Record step. I'm new to bookkeeping so maybe I'm missing something. So you do not enter the client's transactions? If you are doing this for your own bookkeeping and not a client, is it different?

@5MinuteBookkeeping 4 года назад

@@loric1909 Oh, I see what you mean. Since I am talking to small business owners in this video, I was referring to them entering their transactions. They will likely enter their transactions from source documents. In my accounting firm, we do everything 100% virtual and it is also our goal to free up our clients as much as possible from dealing with the financial side of their business. Consequently, we request as few documents as possible from our clients and use bank feeds to record transactions. Of course, that can vary from client to client. But, the point I am trying to make is that we don't get a "shoe box" full of documents to do our clients' books.

@loric1909 4 года назад

@@5MinuteBookkeeping Thank you for explaining! Great videos. I like your teaching style. I'm a new subscriber.

@5MinuteBookkeeping 4 года назад

@@loric1909 You're welcome! Thank you for subscribing.