https://www.youtube .com/watch?v=oZU1HccMPLE
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: https://www.instagram.com/vmwasek/ Get the free Bookkeeping DIY Blueprint: My small business owner’s guide to confident bookkeeping: https://courses.5mbacademy.com/courses/bookkeeping-diy-blueprint 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: http://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: http://bit.ly/2A4dCBe Follow me on Instagram @5minutebookkeeping for bookkeeping tips, inspiration, and some behind-the-scenes looks at what we’re up to. https://www.instagram.com/5minutebookkeeping/ **Special discount: Get 50% off the monthly price of QuickBooks Online for the first 3 months with this link: https://quickbooks.grsm.io/VeronicaWasek Recommended playlists: Bookkeeping DIY: https://bit.ly/2SfGuin e-commerce accounting: http://bit.ly/36SDaRV QBO Training: https://bit.ly/3ocCnV7 **Affiliate link
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.
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.
Hope you can make a video about Bank Reconciliation
Hi Jenny. If you can’t find a video in my YouTube channel, then look for a tutorial on my blog https://5MinuteBookkeeping.com. I have at least one article on how to do a bank reconciliation.
Well appreciated Veronica, I am so grateful for finding your video today.
These directions are very clear and understandable, thank you!
Hi Veronica
How can i sort your videos by topics?
There is no way to do that in YouTube. You can look at my Playlists or use the search field to find specific topics.
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!
Hi Jaimee. Check out this video https://www.youtube.com/watch?v=Jf0JfDaaLpE&list=PLtA2Sdap7ZRFxdgLw2-jURYCtUSCQtG8h&index=20&t=3s
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.
You are so welcome
Great workflow!
Thanks!
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
Thanks for the suggestion Sari.
What are bank feeds
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.
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
Hi Carrie. Sign up for my free Bookkeeping DIY Blueprint here https://courses.5mbacademy.com/courses/bookkeeping-diy-blueprint. It includes the 5 steps and lots more.
This is great 👍…..where can I see more videos ??
Hi Jorge. I think you found all my videos already. They’re all in my YouTube channel, 5 Minute Bookkeeping.
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
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.
@5 Minute Bookkeeping 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 🙏🏻
This is wonderful advice. Specifically, rolling the closing date up after reconciling to ensure that changes to the past entries are not made. Whenever I open someone’s books and I see a closing date months in the past (usually end of the previous fiscal year), I always encounter issues with previously reconciled accounts suddenly having out-of-whack balances simply because an entry was made to a prior closed period. Easy to fix, yes, but time consuming (expensive).
Yes, that is a constant struggle. It’s too easy to change the transactions already recorded.
I want to start my career at a bookkeeper, any information on how to start on my training. I dont have experience or knowledge
Hi Debbie, you should start with bookkeeper training first. Take a look at Bookkeeper Launch and Universal Accounting.
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?
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.
Hi, Veronica! Has your workflow changed since this video?
Hi. It has not. It is still the same.
thank you
You’re welcome
Veronica,u seem to be boon for me.. u really simplify the way to understand QBO..Enjoy watching your tutorials!!! Much love from India 🙏🏻
Thank you so much, Ishita.