Great video! More content like this would be awesome and appreciated. The only addition that would have helped me more is some visuals of the credit and debit examples just after the accounting equation part. Nothing fancy but seeing it onscreen would have left no doubts in understanding which accounts to debit and credit. Otherwise, great content! I've been watching for a couple of months and am seriously considering starting a bookkeeping business to hopefully get out of the rat race. Thanks Zach.
@@BookkeepingExpert I appreciate your reply. Graphics do take more time and effort but aren't necessary, IMO. A simple spreadsheet of examples would be ideal to me. Anyway, I learned plenty from the video as is, and truly appreciate your time and knowledge you share here.
Thanks for the video - i couldn’t stay with it with just lecture form info. I need a lot more visuals to put the content together with what you are saying. 😊
Thank you so much for this video! I'm curious about who should be responsible for keeping the receipts of transactions - the business owner or the bookkeeper? I hope you don't mind me asking, I just want to make sure I understand.
Hey Zach, I have a question. I am taking a bookkeeping course at my community college but I’m also taking an Intro to Accounting Course. Do I need to take the bookkeeping course or would it be enough for me to learn bookkeeping from my accounting course?
Do you use numbers in your chart of accounts? I always thought this was a good idea no matter the size of your business. But is this overcomplicating? Thanks, Zach!
So Z, doesn't the software make the entries for double bookkeeping? In a small to medium sized business, isn't there about 100 entries that a bookkeeper would need and all he has to do is memorize them and its use in certain situations?
Accrual bookkeeping question. My client is a therapist who gets paid by insurance companies by submitting claims. Wouldn't I need to know when a claim is submitted right now I only see the income from the bank statements.
you mention you focus on simple bookkeeping only client ... question is do you only focus on "Cash Basis" clients or do you have accrual clients as well?
Hi Zach, I have a question and hopefully you can help clarify it for me. So, i have to reimburse a self-contractor that bought some supplies for my client's business, do i need to record the reimbursement and then the actual expense?
If you have a subcontractor, they should be tracking their income and expenses and filing a schedule C. So everything you pay your subcontractor should be included in the 1099 at the end of the year.
Not really. Debit will always increase assets and expenses. Credit will always increase liabilities and income. The opposite is also true. Debit will always decrease liabilities and expenses and credit will always decrease assets and expenses. So if you buy a truck with a loan. You would debit the asset and credit the liability - which increases the asset and increase the liability. Double entry accounting is confusing until it "clicks" in your brain, then it all just magically makes sense!
![Efficiently Onboarding New Bookkeeping Clients [Step-By-Step Guide]](http://i.ytimg.com/vi/J6NAf9JKVwY/mqdefault.jpg)
Thank you, yes, more videos like this please! These are great to refer back to as needed.
It seems like people like it!
Yes please more like this!!!!! 🙂
Ok good to know! 😁
dude what. Your content has to be the best around for accounting/bookkeeping on TH-cam
Thanks so much! That’s very kind
Absolutely! More of these please. Great for us newbies that want to get into the business. Much appreciated. Thank you!
More to come!
The Fundamentals are very interesting, and I'm a CPA lol This is a freshman yr refresher for me :)
Thanks so much for watching!! Gotta love debits and credits 😆
Great video, would love to learn the reconciling and reporting steps of bookkeeping Thank you!
Great suggestion!
Keep up with these kinds of videos, please! Great job!
Thanks, will do!
Thank you for lesson!
Glad it was helpful!
Great video! More content like this would be awesome and appreciated. The only addition that would have helped me more is some visuals of the credit and debit examples just after the accounting equation part. Nothing fancy but seeing it onscreen would have left no doubts in understanding which accounts to debit and credit. Otherwise, great content! I've been watching for a couple of months and am seriously considering starting a bookkeeping business to hopefully get out of the rat race. Thanks Zach.
It takes more effort to add the graphics 😅 but absolutely I agree!
@@BookkeepingExpert I appreciate your reply. Graphics do take more time and effort but aren't necessary, IMO. A simple spreadsheet of examples would be ideal to me. Anyway, I learned plenty from the video as is, and truly appreciate your time and knowledge you share here.
Love this style video, very helpful! Would very much enjoy more like it.
Good to know! Will try to do more
I love it 💯
I'll make more!
Thanks!
You’re welcome!
Please more videos thank you
Will do!
Thanks for the video - i couldn’t stay with it with just lecture form info. I need a lot more visuals to put the content together with what you are saying. 😊
Yes, this is helpful content
Thanks for watching!
Thanks so much
You're welcome
Yes please this was great 😊
Thanks for watching!
More of these videos please 🙏🏻
Will do!
This is awesome! Thank you
Thanks for watching!
Thank you so much for this video! I'm curious about who should be responsible for keeping the receipts of transactions - the business owner or the bookkeeper? I hope you don't mind me asking, I just want to make sure I understand.
I answered your question in my recent video! th-cam.com/video/MAItr6GE3oU/w-d-xo.html
@@BookkeepingExpert Your are awesome Zach! Thank you so much!
God bless you brother
God bless you!
Thank you ❤
You're welcome 😊
Great video!
Thanks!
In what video do you teach how to do the work?
Got it!!!... not to much videos on teaching
QuickBooks Tutorials
th-cam.com/play/PLTAM5DlYfKQ4gYoq2dX7Gzn4A_4FAjYH_.html
Very helpful video
Glad it was helpful!
This is really helpful
I’m happy to help!
Please make a detail video on How to setup chart of accounts for real estate rental and flipping
Check out this one! th-cam.com/video/JByvHSxg2F0/w-d-xo.html
Any video on what I should do if I registered my business and it has no income for the past months?
If you have expenses, you might want to file your taxes, even if you didn’t earn any income.
Yes more!!
Will do!
Hey Zach, I have a question. I am taking a bookkeeping course at my community college but I’m also taking an Intro to Accounting Course. Do I need to take the bookkeeping course or would it be enough for me to learn bookkeeping from my accounting course?
th-cam.com/video/kcRNRQpqGWM/w-d-xo.html
Thankyou
You’re welcome 😊
Please more videos!!!
I will keep them coming!
Do you use numbers in your chart of accounts? I always thought this was a good idea no matter the size of your business. But is this overcomplicating? Thanks, Zach!
th-cam.com/video/kcRNRQpqGWM/w-d-xo.html
So Z, doesn't the software make the entries for double bookkeeping? In a small to medium sized business, isn't there about 100 entries that a bookkeeper would need and all he has to do is memorize them and its use in certain situations?
th-cam.com/video/kcRNRQpqGWM/w-d-xo.html
Accrual bookkeeping question. My client is a therapist who gets paid by insurance companies by submitting claims. Wouldn't I need to know when a claim is submitted right now I only see the income from the bank statements.
Yes, you should ask your client for an A/R aging report if they have one!
you mention you focus on simple bookkeeping only client ... question is do you only focus on "Cash Basis" clients or do you have accrual clients as well?
Hi Zach, I have a question and hopefully you can help clarify it for me. So, i have to reimburse a self-contractor that bought some supplies for my client's business, do i need to record the reimbursement and then the actual expense?
If you have a subcontractor, they should be tracking their income and expenses and filing a schedule C. So everything you pay your subcontractor should be included in the 1099 at the end of the year.
@@BookkeepingExpert Awesome, that is what i ended doing.
Can you make a vid for REI on refinancing?
Yes, I can!
@@BookkeepingExpert 🐐
Hello how do I get in touch with you?
www.harrisburgbookkeeping.com/scheduling
Can debits and credits be simplified into a verb? Are debits like “gaining” and credits like “spending”?
Not really. Debit will always increase assets and expenses. Credit will always increase liabilities and income. The opposite is also true. Debit will always decrease liabilities and expenses and credit will always decrease assets and expenses. So if you buy a truck with a loan. You would debit the asset and credit the liability - which increases the asset and increase the liability. Double entry accounting is confusing until it "clicks" in your brain, then it all just magically makes sense!
Do you also do financial and valuation analysis??
No, I only do bookkeeping
@@BookkeepingExpert either way I enjoy the content bro 💯
Do you have clients that are on an accrual basis? Do they ever ask you if they should be?
Yes, and yes. I usually explain the difference between cash and accrual then tell them to ask their tax accountant.
Thanks for your videos. I sent you an email would appreciate if you can respond! 😊
Thanks for watching!
I love it 💯
Thanks for letting me know!