Thank you for your kindness

You are the sweetest! Thank you

Amen !. People are always trying to put someone down . Edward said it perfectly .

Thanks Dajana :) Yep it is hard! I honestly simply cannot afford an assistant, I had to say goodbye to my editor about a month and a half ago because I do not run my Patreon anymore which was the main source of revenue that was helping me run everything. Now I am back to square one but hopefully eventually things will take off with my new direction.

@@NicollesDreamsShop I'm sure it will be better as time passes. Being able to do what you like is priceless nowadays, not to mention making a profit for decent living. Your work is unique, you yourself are unique person, and believe me it would be rewarded in one way or another. Doing what you do is amazing already. Let me be little personal. I graduated economics simply because my parents did too. I'm working as an accountant for 10 year now. And I'm not 100 percent into it, simply because I wasn't been brave enough to follow my passion. So don't give up. You're doing it right.

Thank you! I really try my best :)

Totally! It is comforting when you can relate to others struggles and I want to show that the reality is not all fun and games

I am really glad to hear that, thank you! :)

Thank you so much! I know these videos are not what people enjoy watching nor something that will drive views and subscribers, but I feel it is important to share and be open and honest about it.

I live for it

Nope

Yes I am glad this is all over for now ☺️ Thank you!

Thank you for being here

You are very welcome!

Thanks sweetie

Thank you dear

Thank you very much

also this video was very helpful...any chance you might let us know the packaging supplier lol? I live near Dandenong :)

@@NicollesDreamsShop😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍 You made my day!!! ♥️♥️♥️♥️♥️

Thanks Ali :) I appreciate your kindness!

Oh thank you very much! My skincare is nonexistent because I am allergic to everything :( I just wash my face with water twice per day. In regards to hair I use Joico k pak shampoo and conditioner with Unite leave in treatment. That is all, my allergies really limit what I can use nowadays :(

@@NicollesDreamsShop Ack - sorry to hear that. I've got a ton of allergies too (including cosmetics, washing powers/detergents, fabric softener etc) and I actually have a number of severe allergies that require me keeping EpiPens... but sadly there's a countrywide shortage right now, and so yeah... I'm just having to go without right now and just hope I don't suffer an anaphylactic reaction. Allergies suck.

hehehe ;) I hope so tooooo! Gosh this experience was stressful! Oh do you deal with a ton of spread sheets as part of your work too?

Nicolle's Dreams I’m a staff accountant so yes. Lots and lots of spread sheets. And a few boxes of receipts show up each year as well which I get to sort and deal with 😂😭

Omg then you are a pro at this girl!!!! You must be the queen of spreadsheets and numbers :D

Thanks Rin :)

Thank you :) Yeah getting all of that sorted and finalised definitely made me feel less stressed.

I’ve tried a couple of options, but so far everything that I used was so so complicated :( I’ve spent hours watching tutorials trying to learn but only got frustrated. Do you have a specific software that you recommend that is super user friendly and easy to learn?

I think its just the accents

Thank you so much for the encouragement ❤️ and yes I am a big fan of her work, she was definitely one of the youtubers that inspired me to start creating content that I feel more connected with :)

You are very welcome! :) There is way too much unrealistic romanticism regarding running your own shop, I want to show that things are not easy nor fun sometimes. Yes Google spreadsheets allow quite a bit of automation. But the thing that takes the most time is adding entries manually, assigning them to categories, writing what each entry is used for in case the ATO decides to throw an audit at me in 3 years. That is the thing that takes the most time and I am not sure if there is any way to make the process more efficient.

@@NicollesDreamsShop I'd be happy to brainstorm with you if you ever feel like it. I've been playing around with them recently trying to explore options for accounting stuff I've been needing to do. Definitely not an expert though, just dabbling.

You are very welcome! The spreadsheet is used to calculate and track my expenses connected to my sources of revenue (be it KZfaq, Etsy etc) so that I know how much taxes I owe to the government. So here is a simplified example, if I spent $30 to make a sticker and sold it on Etsy for $50, I would then add to my spreadsheet all of the costs that were part of the $30 (sticker sheet, ink, packaging material, etc) because then instead of paying 25% taxes on $50 I would pay 25% on the actual revenue from the sticker - so 25% of $20 ($50 minus $30). That makes a huge difference because it would mean that I only had to pay the ATO $5 in taxes instead of $12.5. This is a very basic example though, there are other things that have to be calculated on top such as superannuation, GST etc which will affect even more how much money you actually keep to invest further into your store. So the spreadsheet keeps track of all those expenses because the taxation office can begin an audit for multiple years in the past and if that happens I need to show them clear proof of my expenses and calculations to show that I paid the right amount of taxes. I hope this made sense :)

@@NicollesDreamsShop oh of course, that makes sense. Thanks for the explanation, Andreja :)

I am very happy to hear that :) honestly at first I tried to research things on my own, but things were so confusing and overwhelming, that I ended up booking an accountant and then when I met her I was like “Help me, I have no idea how to do this properly, I don’t know where to start and I am freaking out badly 😅” then after quite a few meetings, we slowly figured things out. I am still learning something new every year because obviously policies change often, so her knowledge and expertise ensures that I do things the most efficient and correct way.

@@NicollesDreamsShop Thank you!❤ Yes, I can relate to the overwhelming feeling and this is what has prevented me from selling my creations online :S Looking forward to your next vlogs, they are very calming and interesting!

I am very glad you liked it! :) I stopped Patreon because that was meant to support my doll related videos, so now that I changed focus, it made no sense to continue the campaign since most of the people started supporting me because of the doll content.

Thanks Carly :)

Yeah any sort of revenue has to be declared to the taxation office including KZfaq. Then about 25-30% of your revenue goes to the government for taxes, 9% goes to your superannuation, then you have things like GST, school loans, etc. It took me a few years before I felt like I knew what I was doing. My poor accountant has been so patient with me, having to explain things over and over xD

I have no money for an assistant :(

Well it is the law, KZfaq will not come after me but the taxation office of your own country might when they notice money coming into your bank account. In the end it is my duty to pay taxes on any income no matter where it comes from(KZfaq, Patreon, Etsy, Amazon etc) and no matter if you only make videos or send products to customers. By law I must declare whatever money I make and pay the correct amount of taxes. Most platforms do not do that automatically for you, you have to do it yourself so for example if I earn $100 from KZfaq I always take 25%-30% away to the side for when the end of the financial year comes and I need to pay what is due. Things can be complicated this is why I've hired an accountant to help me out so that I do everything right and I do not get in big trouble with the government.

Really? Thank you so much for the suggestion :) I just had a look at their page, but I assume I still need to input all of my purchases manually, categorize them etc which is what makes it so time consuming. Or is there a specific feature or some sort of automatization that makes things much faster to do?

You can link it to your business bank account, use your debit card for every purchase, and Xero (what I use) receives all the transactions directly from the bank, so at the end of each month all you need to do is go through them and reconcile them (assign a purpose, write a reason. You can setup rules for recurring expenses as well so all you need to do is check and press ok to reconcile it). You can give your accountant access to the books so they can work on it without you needing to be there as well.

And you can import as much historical data as you can get from your bank.

Yeeeessss