Bookkeeping Basics with QuickBooks Online

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  • čas přidán 3. 07. 2024
  • To get the template you will need to create a free login on our website:
    www.nerdenterprises.com/
    Then click here:
    nerdyurl.com/bkkpg-basics
    Get My Bulletproof Bookkeeping® Mastery Course with QuickBooks Online:
    nerdyurl.com/BB-Course-Reg
    And check out all of my courses and templates here:
    www.nerdenterprises.com/cours...
    Get the full write up and templates for this video here:
    nerdyurl.com/bkkpg-basics
    Index
    0:00 Introduction
    0:20 Five Account Types in any accounting system in any country
    1:15 Knowing what's going on behind the forms
    1:44 Your job as a bookkeeper
    1:51 Debits and Credits
    2:08 Sample QuickBooks company for debits and credits example
    2:55 Account Types samples
    3:57 When you go to school for accounting the first thing you learn is T Accounts
    4:39 First thing you do when you open a business
    5:00 Start of the trial balance
    5:35 One thousand deposit going into the bank is a debit
    5:50 Contributing money is an owner's contribution in equity
    6:15 Assets and expenses increased by debits everything else is increased by credits
    6:55 Go to QuickBooks Online to record a transaction
    8:12 What account are the 1,000 going to in the transaction
    8:44 Transaction does not affect the profit and loss only the balance sheet
    9:32 Check your work, did the transaction impact the sheets the way you expect it to
    10:00 Opportunity to pause the video and get caught up on following Seth's example
    10:21 Second transaction takes place
    11:53 Transaction 2 recorded in T Account
    12:33 Record transaction 2 in QuickBooks Online
    14:00 Where transaction 2 falls in Balance Sheet and Profit and Loss
    15:14 Shows transaction 2 in Profit & Loss and Balance Sheet
    15:36 Recording a transaction to receive payment transaction 3
    17:00 View of receiving accounts receivable as cash into bank account
    17:51 Shows the receive payment in T-Account
    18:48 Transaction 4 recording buying a computer
    19:26 Buy something it loses cash in bank account or credit card
    20:28 Transaction 4 debit bank account credit computer expense
    21:07 T4 Record it in T Account
    22:49 Record transaction 4 in QuickBooks Online
    24:48 Transaction 5 Expense, software purchase debit an expense, credit the asset
    25:39 Recording T5 in T Accounts
    27:05 Record T5 in QuickBooks
    28:26 Adding an account you need when it's missing in QuickBooks Online
    29:38 How T5 affect Profit and Loss and Balance Sheet
    29:56 If you want a quick review of what was done in the video
    30:57 Where to get access to the template used in the video
    This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Nerd Enterprises, Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Nerd Enterprises, Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.

Komentáře • 267

  • @callmekelly9514
    @callmekelly9514 Před 2 lety +9

    Wish I found this channel back when I was in college! Everything is was clear and easy to understand oh my goodness! Absolutely the best I’ve seen so far here on CZcams! Thank you sir

  • @HuongPham-hk9xm
    @HuongPham-hk9xm Před 8 měsíci

    Thank you for all of your accounting/bookkeeping videos! Very helpful and easy to understand!!

  • @melonylue9835
    @melonylue9835 Před 4 lety +1

    Absolutely love this video! Very informative & helps to refresh a lot I did not remember fully.

  • @quinnwynes2129
    @quinnwynes2129 Před 4 lety

    Thank you! Just subscribed! I have been avidly searching for a video like this that articulates the fundamentals of bookkeeping in QuickBooks without unnecessary or overly complex information. Thanks!

    • @nerdenterprises
      @nerdenterprises  Před 3 lety

      Thank you Quinn! As with Janet above, I am not sure why I didn't see this until now.

  • @sathsah1593
    @sathsah1593 Před 5 lety +2

    Thank you, great video for a quickbooks beginner

  • @aryelalexis2011
    @aryelalexis2011 Před 4 lety

    Amazing and great speed! Thank You

  • @arvaj2840
    @arvaj2840 Před 5 lety

    This video rocked and you did an outstanding job. I had no clue where to start with booking or accounts and now I feel comfortable enough to start. Thanks again.

  • @calvinlee1606
    @calvinlee1606 Před 3 lety +1

    He explains really clear and makes it easy to understand. Thanks.

  • @SP-cq3og
    @SP-cq3og Před 4 lety

    Deeply grateful for this free video!

    • @nerdenterprises
      @nerdenterprises  Před 4 lety

      Thank you! Check out the course in the description for more.

  • @catalinalee1
    @catalinalee1 Před 5 lety +5

    Thank you for sharing this video! I really appreciate it!

    • @nerdenterprises
      @nerdenterprises  Před 5 lety

      Thank you! You'll LOVE the course - courses.nerdenterprises.com/bulletproof

  • @peterconry6933
    @peterconry6933 Před rokem

    Timeless Learning.Thank You.

  • @Ernesto.R.
    @Ernesto.R. Před 3 lety

    Enjoyed every minute! Thanksks!

  • @rtorbert0406
    @rtorbert0406 Před 4 lety +1

    Excellent...Great Energy!

  • @nidiapierre4741
    @nidiapierre4741 Před rokem

    Excellent! Very helpful. Thank you so much!

  • @ellenyin2161
    @ellenyin2161 Před 5 lety +2

    Thank you so much for this extremely detailed video!

    • @nerdenterprises
      @nerdenterprises  Před 5 lety

      You are very welcome!
      Please tell others about it, or share it :)

  • @trudydecoste4697
    @trudydecoste4697 Před 5 lety +5

    Very Very Very Helpful, explained perfectly...Thank You!

  • @marcelotroncoso83
    @marcelotroncoso83 Před 4 lety +2

    What an Excellent bookkeeping video! Seemingly complex topics broken down in a very easy to understand way. Well done and thank you!

  • @carlospena5942
    @carlospena5942 Před 4 lety

    thank you for your time.

  • @celebritytiktoktour1658
    @celebritytiktoktour1658 Před 3 lety +2

    The best video I've found about bookkeeping. You're a great teacher!

  • @mylespenilla6214
    @mylespenilla6214 Před 4 lety +7

    Very informative! It encourages me pursue book keeping as my niche. Will definitely share this with my friends.

  • @louisewildfire2630
    @louisewildfire2630 Před 4 lety

    Thank you I loved that you explain the bigger picture

  • @franstrickland2570
    @franstrickland2570 Před 3 lety

    Excellent way to teach bookkeeping and QuickBooks at the same time. Highly recommend for beginners .

  • @joesellepena9395
    @joesellepena9395 Před rokem

    very helpful. Thank you!❤

  • @johncarlopolicarpio6734
    @johncarlopolicarpio6734 Před 4 lety +4

    thank you, i learned a lot.

  • @dwightdesir5813
    @dwightdesir5813 Před 3 lety

    Thanks for your well done job sir!

  • @saharah5539
    @saharah5539 Před 3 lety

    I learned quite a bit, I am pursuing a career in the administration world, Thank you for the information and explanations

  • @kathiewhite1852
    @kathiewhite1852 Před 4 lety

    This is the most helpful look at basic books that I have seen. Very well presented.

  • @mattdemers8852
    @mattdemers8852 Před rokem

    great info, so clearly presented!

  • @LaDeeDah
    @LaDeeDah Před 4 lety +3

    Thank you! I love that you explain the bigger picture! That's the only way I can learn, is knowing WHY I'm doing whatever task or action. Just subscribed 👌

  • @k.l.g.5786
    @k.l.g.5786 Před 4 lety

    Thanks for this informative Video and Spreadsheet. I have a better understanding now.

  • @sab1066
    @sab1066 Před 2 lety

    This video was amazing thank you 🔥🔥🔥

  • @gricelarroyo3951
    @gricelarroyo3951 Před 3 lety +2

    Very Helpful!!! Thank you for the clear explanation. Easy to follow 👌🏻

  • @dhayglendz8229
    @dhayglendz8229 Před 4 lety +1

    Wooow! thank you so much! so this is bookkeeping with quickbooks online...I am a licensed bookkeeper here in our Country and I want to focused on freelancing but I am not confident because I dont have any idea about quickbooks..Thank you so much for making this easy for us... Just subscribed ...

  • @abrahammanzo2455
    @abrahammanzo2455 Před 3 lety

    Thank you! I will definitely download to practice. Also will share with my family, friends, and pets!

  • @nanditasaha3658
    @nanditasaha3658 Před 3 lety

    Thank you for the lovely video.

  • @jeremy_317
    @jeremy_317 Před rokem

    Was really focused on the P/L as a small business, but once transition to an accrual-basis, this video became essential. Thanks!

    • @nerdenterprises
      @nerdenterprises  Před rokem +1

      Thank you so much Jeremy. I had a client years ago who insisted she did NOT want to look at the balance sheet. Until she was audited and it was using information on the balance sheet that I was able to answer their questions and put the audit to rest quickly! After that she agreed to let me explain the balance sheet to her!
      Also many businesses may be "cash basis" for tax purposes, but you still need to run your business on an accrual basis.
      There's a video for that 😉
      czcams.com/video/ci0g5Q_8o1M/video.html

  • @bridgetduval472
    @bridgetduval472 Před 4 lety +1

    Thank you! Great video! I'm considering a career change to bookkeeping and have done a few weeks of research in regards to it. This has been the most helpful resource to date!

    • @nerdenterprises
      @nerdenterprises  Před 3 lety

      Glad it was helpful! I have a whole course on this called, "Bulletproof Bookkeeping with QuickBooks Online!

  • @victorcampecino9779
    @victorcampecino9779 Před 5 lety

    I like the way you presented the lessons. It is easy to understand. Thank you

  • @teribarajas
    @teribarajas Před rokem

    Thank you, thank you, thank you! You are an answer to prayer, I have been so stressed out with not knowing how it all ties together and you explain it so well!

    • @nerdenterprises
      @nerdenterprises  Před rokem

      Thank you for commenting and sharing this! I am so glad you found this helpful!

  • @amberjacobs1895
    @amberjacobs1895 Před 7 měsíci

    Dude. I've watched hundreds of bookkeeping videos by now and this is by far THE BEST one I've ever seen. You are an excellent teacher! Thank you so much for doing this!

    • @nerdenterprises
      @nerdenterprises  Před 7 měsíci

      Thank you so much Amber! I really appreciate that!

  • @CoachShaunie
    @CoachShaunie Před 8 měsíci +1

    Thank you for the extra practice 😁👍

  • @ladyluck2607
    @ladyluck2607 Před 4 lety +2

    Super clear steps!! Great video :)

  • @linamartinelli9312
    @linamartinelli9312 Před 2 lety +1

    Thank you this was excellent presentation.

  • @suckstobesam700
    @suckstobesam700 Před 2 lety

    Very clear and awesome

  • @amanohar5
    @amanohar5 Před 5 lety

    Course was simple to understand

  • @shivalibhatt6984
    @shivalibhatt6984 Před 2 lety

    loved the video , though I'm very new for this, I understood it clearly. Thank you so much. All I need to do is more practice.

  • @TheRealMikeyXZ
    @TheRealMikeyXZ Před 4 lety +3

    One of the best intro tutorials I've watched so far. Quite in depth with concepts, money flow and navigating the QBO user interface. Definitely helped me understand a few things that other tutorials are lacking. The spreadsheet was extremely helpful.

  • @iphoneskidad
    @iphoneskidad Před 2 lety +1

    Thanks! This is very informative and easy to follow

  • @pattimason7204
    @pattimason7204 Před 4 lety +2

    Thank you, very informative!

  • @tinagibson7535
    @tinagibson7535 Před 5 lety

    Great information to learn. Thank you!!

  • @rezielmeraabuhan1488
    @rezielmeraabuhan1488 Před 4 lety

    Thank you so much sir!

  • @monicasotirakos3470
    @monicasotirakos3470 Před 5 lety

    Excellent video, thank you!

  • @geetaraghunanan9799
    @geetaraghunanan9799 Před 2 lety

    This is the best tutorial l have ever followed. You are very articulate, your explanations are very simple to follow and l truly appreciate this. God bless you

  • @stephaniesangabriel6586

    It's very easy to understand. Thank you.

  • @saritaylor3648
    @saritaylor3648 Před 3 lety

    Thank You. If it's too fast just go on settings and slow it down 0.5 etc easy. Love your work I learnt a lot

  • @mariagstorm9244
    @mariagstorm9244 Před 2 lety

    Thank You

  • @kungathinley5782
    @kungathinley5782 Před 3 lety

    Very informative video n great teacher.. thank u so much ...

  • @sandrawolff9223
    @sandrawolff9223 Před 5 lety +13

    Very helpful, simple explanations, this was a refresher course. Thank you for making this so easy.

    • @nerdenterprises
      @nerdenterprises  Před 4 lety

      Thank you Sandra! I have a whole course (over 13 hours of video) on this --> "Bulletproof Bookkeeping with QuickBooks Online" --> new.nerdenterprises.com/bulletproof

  • @catalinalee1
    @catalinalee1 Před 4 lety

    Thank you!

  • @AC-op4ut
    @AC-op4ut Před 2 lety

    Excellent presentation

  • @kamilamamadieva8526
    @kamilamamadieva8526 Před rokem

    God bless you Seth for sharing knowledge! Amazing video 👏

  • @gregharshman351
    @gregharshman351 Před rokem +1

    Amazing video. I am in the process of thinking about changing my career and thinking about bookkeeping. Thanks for all the insight! ❤

  • @DEXYUR
    @DEXYUR Před 4 lety

    Love this. Great video

  • @nicolepinnick5014
    @nicolepinnick5014 Před 5 lety +5

    Barry Allen is The Flash, of course! Thanks for the video! It was extremely informative! Great review!

  • @stephensans3993
    @stephensans3993 Před 5 lety

    Great video. Thank you.

  • @nancymaina8392
    @nancymaina8392 Před 4 lety

    Very helpful 👍 thanks

  • @screamhousegames3079
    @screamhousegames3079 Před 4 lety +9

    Great video. I understand now much more than from other people’s video.
    It would be great if you could continue from this video and give examples of depreciation for the computer and software.
    Side note: What tax line mapping would you use for internet software for 1120s?

  • @kvietok31
    @kvietok31 Před 5 lety

    Very useful video, thank you!

  • @rowenacejas2081
    @rowenacejas2081 Před 3 lety

    thank you, very informative :)

  • @ikhan1981
    @ikhan1981 Před 5 lety

    great video, thank you!

  • @fatimateixeira8124
    @fatimateixeira8124 Před 4 lety +1

    Thank you ! Very detailed video! I'm starting to do bookkeeping and I found it very helpful!

    • @nerdenterprises
      @nerdenterprises  Před 4 lety

      Thank you! If you liked this then you will love my full length course called, "Bulletproof Bookkeeping with QuickBooks Online" --> new.nerdenterprises.com/bulletproof

    • @patrickjohnson5464
      @patrickjohnson5464 Před 4 lety

      This is glorious, I have been researching "udemy quickbooks payroll" for a while now, and I think this has helped. Have you heard people talk about - Aleacob Marvelous Ascendancy - (Have a quick look on google cant remember the place now ) ? It is a smashing exclusive product for discovering how to master quickbooks without the headache. Ive heard some incredible things about it and my cousin got great success with it.#
      Fatima Teixeira

    • @danielatomescu3487
      @danielatomescu3487 Před 4 lety

      Just wonderful, I been tryin to find out about "learn quickbooks for free online" for a while now, and I think this has helped. Have you heard people talk about - Aleacob Marvelous Ascendancy - (should be on google have a look ) ? It is an awesome one off guide for discovering how to master quickbooks without the headache. Ive heard some amazing things about it and my mate got cool success with it.

  • @StrongTowerLockandKey
    @StrongTowerLockandKey Před 4 lety

    Barry Allen is the Flash, and this video helped me so much in understand the basics here and I appreciate this so much! Thank you!

    • @nerdenterprises
      @nerdenterprises  Před 4 lety +1

      Thanks Spencer! So glad you found this helpful! What else are you going to do when you have to stay home all day, but watch bookkepeing videos 🙂

  • @renusanghera393
    @renusanghera393 Před 3 lety

    VERY INFORMATIVE. THANK YOU

  • @acc10payable
    @acc10payable Před 4 lety

    Thank you

  • @jennylynarostique4484
    @jennylynarostique4484 Před 4 lety +1

    Excellent tutorial👍👏

    • @nerdenterprises
      @nerdenterprises  Před 4 lety

      Thank you. If you liked this you're going to love the course!

  • @cometravelwithchu
    @cometravelwithchu Před 3 lety +1

    Thanks for the video. My dad is a CPA and he usually does my business bookkeeping but he has cancer so I am learning how to do it on my own now.

    • @nerdenterprises
      @nerdenterprises  Před 3 lety

      I'm so sorry to hear that Andrew! Please let me know if I can help with anything!

  • @mahdichaal8756
    @mahdichaal8756 Před 3 lety

    Great teacher Thanks .

  • @phindiletsepetsi320
    @phindiletsepetsi320 Před 2 lety

    Even 3 years last this was the most informative video

  • @clareshine1875
    @clareshine1875 Před 4 lety +1

    Thank you. I'm new using QB and this was very helpful.

  • @dipendrabashyal4743
    @dipendrabashyal4743 Před 3 lety

    Wow very informative and just subscribed

  • @purusothamanr5593
    @purusothamanr5593 Před 4 lety

    Wow....great work....

  • @karrasison3593
    @karrasison3593 Před 4 lety

    I love Barry Allen.. and you too for making this awesome video! Gracias!

  • @tariqhameed1699
    @tariqhameed1699 Před 4 lety

    very informative and well explained basics of bookkeeping , i would really appreciate if you may also show us how to record depreciation in the books with the example of buying fixed asset of computer equipment!

  • @rinkspatel3003
    @rinkspatel3003 Před 3 lety

    you are great. Thank you

  • @Spenserifically
    @Spenserifically Před 3 lety

    Thank you for the great video!! I appreciate the behind the scenes view into what is going on in QBO!! Your explanations were very clear, and for me your humor was a welcome touch

  • @venus117sg
    @venus117sg Před 2 lety

    thank you sir

    • @nerdenterprises
      @nerdenterprises  Před 2 lety

      You're welcome! You can get a 6 part mini series for free by opting in on my site ==> new.nerdenterprises.com

  • @awambowe1830
    @awambowe1830 Před 4 lety

    thank you great explination i like it

  • @johng1308
    @johng1308 Před 3 lety

    Terrific basic overview. Love your comic book references!! (DC, not Marvel).

  • @felicianaabrera6009
    @felicianaabrera6009 Před 3 lety

    Informative, I want to learn more about quick books online

    • @nerdenterprises
      @nerdenterprises  Před 3 lety

      Thanks! I have a whole course on the subject called, "Bulletproof Bookkeeping with QuickBooks Online.

  • @kathyemory5581
    @kathyemory5581 Před 4 lety

    Great concepts for someone who has used Quickbooks quite a lot but still finds Debits and Credits a mystery.

  • @Btran7591
    @Btran7591 Před 4 lety

    Awesome vid Just subbed

  • @simranjeetsingh3243
    @simranjeetsingh3243 Před 5 lety

    you are amazing!

    • @nerdenterprises
      @nerdenterprises  Před 5 lety

      Why thank you!!!

    • @simranjeetsingh3243
      @simranjeetsingh3243 Před 5 lety

      i really liked the template that you shared and the way you covered the basics, such a valuable video, thanks a ton again :)

    • @nerdenterprises
      @nerdenterprises  Před 5 lety

      Thanks! I really wanted to create an updated version of one of my most popular videos on CZcams, so this one focuses on QuickBooks Online of course, and I tried to go nice and slow on the bookkeeping basics parts. That was the biggest criticism on the original video.

  • @ROMAN98429
    @ROMAN98429 Před rokem

    nice

  • @angelaldana6078
    @angelaldana6078 Před rokem

    With a Tapout shirt what a legend 30:32

    • @nerdenterprises
      @nerdenterprises  Před rokem

      LOL. A long time ago, in a galaxy far, far away I was the in charge auditor for their financial statements 😉

  • @ssigitas69
    @ssigitas69 Před 3 lety +1

    Thank you so much for this video. It good reminder for me, as I finished college 7 years ago and didn't use my knowledge for a wile. I've got question as well. What version QuickBook to use for learning purpose for bookkeeping? It is enough Simple Star or better need Essentials?

  • @hollylacy3452
    @hollylacy3452 Před rokem

    Great video. It helped a lot. Do you have a follow up for next steps after this particular video?

    • @nerdenterprises
      @nerdenterprises  Před rokem

      Hi Holly!
      If you want a GREAT free resource, here's a link to a list of my CZcams videos that I've organized like a course in Notion to make it easy to go through sequentially or use as a reference library:
      nerdyurl.com/Bulletproof-Playlist

  • @ruthhanson3606
    @ruthhanson3606 Před 4 lety

    How do I download the blank company template to follow along?

  • @shellylahn9742
    @shellylahn9742 Před 4 lety

    how do you get quickbooks payroll to come up on your register

  • @Janet-zh9rn
    @Janet-zh9rn Před 4 lety

    Barry Allen is the Flash; Clark Kent is Superman; Oliver Queen is Green Arrow; Diana Prince is Wonder Woman; Tony Stark is Iron Man and Victor Stone is Cyborg - love that you used super heroes (mainly DC) as the customers!
    Thank you for the great tutorial!

    • @nerdenterprises
      @nerdenterprises  Před 4 lety

      Thank you! Now you know what I like to do in my spare time 😉. I love Marvel and DC. Never understood the rivalry!

    • @Janet-zh9rn
      @Janet-zh9rn Před 4 lety

      @@nerdenterprises 😊 I never understood the rivalry either. I love both too!

  • @oniichan7520
    @oniichan7520 Před 2 lety

    hello sir nerd where can i get the docs t accounts ?