#1~Bank Reconciliation Evry Month. #2~Receipts and Small Transactions. #3~Mixing Personal and Business Finances. #4~Misclasifying Expenses. #5~Not keeping up with Tax Deadline. #6~Backup Data. #7~Overlooking A/C Payable and A/C Receivable. #8~Financial Statement Review. #9~Failing to stay updated with Accounting Standards and Regulations. #10~Lack of Communication.
Thank you so much for all the information. I am soon starting a bookkeeping business from home. I just finished school. I have one question regarding clean ups and what that exactly means. Can you do a series on what it looks like when you first take on a client, whether theyre with quickbooks already or whether theyre not? Thank you
Great video man. Thank you very much. Is it best practice to hold off on creating rules in QB for a new client until you get a really good understanding of their activity each month?
I am new to bookkeeping and I am helping out a family memeber to record all transaction for the previous year. They have only used QuickBooks to invoice and receive/deposit the payment for the invoices. If add their bank account will QuickBooks duplicate all the deposits for the invoices? Also, do I need to add a starting balance to their bank on the chart of accounts even though it already has a balance due to marking payments received?
Hi there! I've been your silent viewer ince I started doing bookkeeping for my client. I've watched this and realized that I do somw of the mistakes 😢 it's my first time doing virtual bookkeeping and I don't want to mess it up. I do reconciliation now but I see a lot of double transactions, one is under SPLIT account and the other is under A/R account cause it's connected to other app. 😬
@@amarilles He said that when prospecting clients ask him about payroll and taxes, he tells them that he partners with a CPA that can do that for them.
@@loganzack3789 He didn't begin having a CPA as partner though. If someone is asking for tax and payroll services, it's not the client for you. Keep at it.
Zack, how do you spell your full name? I keep telling people you’re my mentor and I don’t know how to spell your name lol. I name drop you to my prospects 😂
Love your content man. Best Bookkeeping channel on TH-cam, no doubt
I appreciate that!
#1~Bank Reconciliation Evry Month.
#2~Receipts and Small Transactions.
#3~Mixing Personal and Business Finances.
#4~Misclasifying Expenses.
#5~Not keeping up with Tax Deadline.
#6~Backup Data.
#7~Overlooking A/C Payable and A/C Receivable.
#8~Financial Statement Review.
#9~Failing to stay updated with Accounting Standards and Regulations.
#10~Lack of Communication.
Back up, back up and back up!! I learn it the hard way.
Always have back up!
Thank you so much for all the information. I am soon starting a bookkeeping business from home. I just finished school. I have one question regarding clean ups and what that exactly means. Can you do a series on what it looks like when you first take on a client, whether theyre with quickbooks already or whether theyre not? Thank you
Thank you
Thanks for watching!
Great video man. Thank you very much. Is it best practice to hold off on creating rules in QB for a new client until you get a really good understanding of their activity each month?
th-cam.com/video/kcRNRQpqGWM/w-d-xo.html
Excellent work with pointing out common mistakes. One thing I'd add is the opening balance equity i see when i engage with new clients.
That’s a great point!!
You recommend staying up to date on accounting standards and regulations- what are the best ways to accomplish this?
Read IRS publications and take a few college accounting classes
I am new to bookkeeping and I am helping out a family memeber to record all transaction for the previous year. They have only used QuickBooks to invoice and receive/deposit the payment for the invoices. If add their bank account will QuickBooks duplicate all the deposits for the invoices? Also, do I need to add a starting balance to their bank on the chart of accounts even though it already has a balance due to marking payments received?
th-cam.com/video/kcRNRQpqGWM/w-d-xo.html
Hi there! I've been your silent viewer ince I started doing bookkeeping for my client. I've watched this and realized that I do somw of the mistakes 😢 it's my first time doing virtual bookkeeping and I don't want to mess it up.
I do reconciliation now but I see a lot of double transactions, one is under SPLIT account and the other is under A/R account cause it's connected to other app. 😬
Just make sure every transaction is accounted for during the reconciliation!
Nice Tan Zach! mans been getting some sun
🌞
Hi love the content I feel like we think the same:) I do have a question. Do you provide payroll for an s-corp?. Thank you and have a great day!!
th-cam.com/video/kcRNRQpqGWM/w-d-xo.html
I have a client that mixed personal with business. How would I go about that when categorizing
That’s a nightmare. There is no easy way to do it.
@@BookkeepingExpert Where should I start?
Hello i need help figuring out my projected income for taxes if my businesses hasn't made any sales
That can be hard to calculate!
Hi Zack- do you have experience with non-profit bookkeeping/accounting services? Just wondering.
No, I don’t do non profit bookkeeping
Can I start a bookkeeping business without a CPA? (not doing payroll and taxes?)
That's exactly what he teaches!
@@amarilles He said that when prospecting clients ask him about payroll and taxes, he tells them that he partners with a CPA that can do that for them.
Yes, absolutely!
@@loganzack3789 He didn't begin having a CPA as partner though. If someone is asking for tax and payroll services, it's not the client for you. Keep at it.
❤
Thanks for watching!
Zack, how do you spell your full name? I keep telling people you’re my mentor and I don’t know how to spell your name lol. I name drop you to my prospects 😂
Zach Pasquariello