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.
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
Thank you Kelly!
Thank you for all of your accounting/bookkeeping videos! Very helpful and easy to understand!!
Absolutely love this video! Very informative & helps to refresh a lot I did not remember fully.
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!
Thank you Quinn! As with Janet above, I am not sure why I didn't see this until now.
Thank you, great video for a quickbooks beginner
Amazing and great speed! Thank You
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.
Thank you!
He explains really clear and makes it easy to understand. Thanks.
Thank You!
Deeply grateful for this free video!
Thank you! Check out the course in the description for more.
Thank you for sharing this video! I really appreciate it!
Thank you! You'll LOVE the course - courses.nerdenterprises.com/bulletproof
Timeless Learning.Thank You.
Thank you Peter!
Enjoyed every minute! Thanksks!
Excellent...Great Energy!
Excellent! Very helpful. Thank you so much!
Thank you so much for this extremely detailed video!
You are very welcome!
Please tell others about it, or share it :)
Very Very Very Helpful, explained perfectly...Thank You!
Thank you!
What an Excellent bookkeeping video! Seemingly complex topics broken down in a very easy to understand way. Well done and thank you!
Thank you Marcelo!
thank you for your time.
The best video I've found about bookkeeping. You're a great teacher!
Thank you so much! This means a LOT!
Very informative! It encourages me pursue book keeping as my niche. Will definitely share this with my friends.
Thank you!
Thank you I loved that you explain the bigger picture
Excellent way to teach bookkeeping and QuickBooks at the same time. Highly recommend for beginners .
Thank you Fran!
very helpful. Thank you!❤
thank you, i learned a lot.
Thanks for your well done job sir!
I learned quite a bit, I am pursuing a career in the administration world, Thank you for the information and explanations
This is the most helpful look at basic books that I have seen. Very well presented.
Thank you Kathie!
great info, so clearly presented!
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 👌
Thank you!
Thanks for this informative Video and Spreadsheet. I have a better understanding now.
This video was amazing thank you 🔥🔥🔥
Very Helpful!!! Thank you for the clear explanation. Easy to follow 👌🏻
Thank you!
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 ...
Thank you! I will definitely download to practice. Also will share with my family, friends, and pets!
Have fun!
Thank you for the lovely video.
Was really focused on the P/L as a small business, but once transition to an accrual-basis, this video became essential. Thanks!
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
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!
Glad it was helpful! I have a whole course on this called, "Bulletproof Bookkeeping with QuickBooks Online!
I like the way you presented the lessons. It is easy to understand. Thank you
Thank you!
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!
Thank you for commenting and sharing this! I am so glad you found this helpful!
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!
Thank you so much Amber! I really appreciate that!
Thank you for the extra practice 😁👍
Super clear steps!! Great video :)
Thank you!
Thank you this was excellent presentation.
Thank you!
Very clear and awesome
Thank you so much!
Course was simple to understand
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.
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.
Where can I get the spreadsheet?
@@almamydiaby3587 did you get it already?
Thanks! This is very informative and easy to follow
Thank you!
Thank you, very informative!
Thank you Patti!
Great information to learn. Thank you!!
Thank you!
Thank you so much sir!
Excellent video, thank you!
Thank you!
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
Thank you so much Geeta!
It's very easy to understand. Thank you.
Glad it was helpful!
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
Thank you!
Thank You
Very informative video n great teacher.. thank u so much ...
Very helpful, simple explanations, this was a refresher course. Thank you for making this so easy.
Thank you Sandra! I have a whole course (over 13 hours of video) on this --> "Bulletproof Bookkeeping with QuickBooks Online" --> new.nerdenterprises.com/bulletproof
Thank you!
Excellent presentation
Thanks AC!
God bless you Seth for sharing knowledge! Amazing video 👏
Thank you!
Amazing video. I am in the process of thinking about changing my career and thinking about bookkeeping. Thanks for all the insight! ❤
Thank you Greg! I Am so glad this was helpful!
Love this. Great video
Thank you!
Barry Allen is The Flash, of course! Thanks for the video! It was extremely informative! Great review!
Gold Star Nicole! And thank you!
Great video. Thank you.
Thanks for commenting! I am glad you liked it!
Very helpful 👍 thanks
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?
Very useful video, thank you!
Thank you!
thank you, very informative :)
great video, thank you!
Thank you!
Thank you ! Very detailed video! I'm starting to do bookkeeping and I found it very helpful!
Thank you! If you liked this then you will love my full length course called, "Bulletproof Bookkeeping with QuickBooks Online" --> new.nerdenterprises.com/bulletproof
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
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.
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!
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 🙂
VERY INFORMATIVE. THANK YOU
Glad it was helpful!
Thank you
Excellent tutorial👍👏
Thank you. If you liked this you're going to love the course!
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.
I'm so sorry to hear that Andrew! Please let me know if I can help with anything!
Great teacher Thanks .
Thank you!
Even 3 years last this was the most informative video
Later
Thank you. I'm new using QB and this was very helpful.
Wow very informative and just subscribed
Wow....great work....
Thank you!
I love Barry Allen.. and you too for making this awesome video! Gracias!
Thank you!
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!
you are great. Thank you
Why thank you very much!
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
Thank you Janet! Sorry I didn't see this sooner!
thank you sir
You're welcome! You can get a 6 part mini series for free by opting in on my site ==> new.nerdenterprises.com
thank you great explination i like it
Thank you!
Terrific basic overview. Love your comic book references!! (DC, not Marvel).
Informative, I want to learn more about quick books online
Thanks! I have a whole course on the subject called, "Bulletproof Bookkeeping with QuickBooks Online.
Great concepts for someone who has used Quickbooks quite a lot but still finds Debits and Credits a mystery.
Awesome vid Just subbed
Thank you!
you are amazing!
Why thank you!!!
i really liked the template that you shared and the way you covered the basics, such a valuable video, thanks a ton again :)
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.
nice
With a Tapout shirt what a legend 30:32
LOL. A long time ago, in a galaxy far, far away I was the in charge auditor for their financial statements 😉
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?
Great video. It helped a lot. Do you have a follow up for next steps after this particular video?
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
How do I download the blank company template to follow along?
how do you get quickbooks payroll to come up on your register
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!
Thank you! Now you know what I like to do in my spare time 😉. I love Marvel and DC. Never understood the rivalry!
@@nerdenterprises 😊 I never understood the rivalry either. I love both too!
hello sir nerd where can i get the docs t accounts ?