Glad it was helpful!

Happy to help!

You are so welcome

Thank you so much, Ishita.

You're very welcome!

You're welcome. You've got this!

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

Thanks for the suggestion Sari.

Glad it was helpful!

You're welcome!

Glad it was helpful!

Glad it was helpful!

You're welcome Monique!

Glad you liked it!

Thank you so much Krissy!

Me too👍

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 kzfaq.info/sun/PLtA2Sdap7ZRHJ0jqp7KaArOuvXFbPtp4P

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.

@@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 🙏🏻

Thanks!

You're welcome!

You're welcome

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

Thanks.

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.

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 Jorge. I think you found all my videos already. They're all in my KZfaq channel, 5 Minute Bookkeeping.

Hi. I don't know what Profi is.

Hi Jaimee. Check out this video kzfaq.info/get/bejne/gMxgfcl1xsewoHk.html

Thanks!

You're welcome!

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

Thank you.

Thank you Awa!

Hi. It has not. It is still the same.

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.

@@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?

@@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.

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

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

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

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.