How about a video on how to start, i.e.: Step 1 - Download QB Accounting Pro; Step 2 connect to a client's bank feed; Step 3 Set up Chart of Accounts - How do you know what is an expense vs a liability, what is considered an asset vs an expense or a liability. That would be great to know.
I just came across this video while do a little youtube surfing and wanted to share a bit of advice to newbie bookkeepers. I would never recommend that someone start their own business and then learn bookkeeping afterward. Anyone can call themselves a "bookkeeper" but it is much more than just entering transactions and running a couple of monthly financial statements. When a client hires you to do their bookkeeping, they expect and deserve an EXPERT who understands accounting. You should be experienced and educated enough to handle complex issues that come up like interpreting a variety of financial statements, doing journal entries, and understanding what is going on behind the scenes in QuickBooks just to name a few. I can't tell you how many times I've had to clean up a mess that a so-called bookkeeper made in a client's books. You have to know what to look for, how to fix it and be able to explain bookkeeping and accounting principles to your clients. I learned bookkeeping and QB on the job and immersed myself in learning everything I could. It wasn't until many years later that I actually decided to get a degree in accounting but I'm glad I did. If you want to start your own bookkeeping business, please make sure you already have adequate knowledge and experience working QuickBooks in a variety of industries BEFORE taking on your first client.
Mary, I appreciate your insight. Please make sure to provide actionable steps for people that are interested in becoming bookkeepers but don't have the experience you are referencing. Coming from a background in education I have learned that telling someone they aren't capable of doing something but not offering them a way to learn and grow to get there is demeaning. If you believe that someone can't start bookkeeping without the adequate knowledge and experience you mentioned, do you have ideas of ways they can get that knowledge and experience? I know my viewers would love that information.
I totally agree with you, I have a degree in Accounting and Finance and I do bookeeping for a few friends and family, am yet to set up professionally as a bookkeeper but what I know is, the clients will ask you questions of which if you have no prior knowledge or understanding you will struggle to answer. They expect you to know what you are doing otherwise you are setting yourself off for faiure. I also suggest if someone want to be a bookkeeper get some form of training before starting. It's better to invest in learning than getting inside and then get stuck in the middle.
@@RealisticBookkeeping I really appreciate your message here. This post had me so discouraged thinking I had to be someone with multiple degrees and an extreme amount of knowledge that wasn't even attainable. It was like a huge slap in the face. I know countless people that learned as they started and moved through things and they did an amazing job with their clients and in a short time were making six figures and were extremely knowledgeable, while having no degree. (super nice people too)
Thanks for explaining. Although I have a degree in BBA and I have learned QuickBooks and bookkeeping from the internet too, I’m not getting clients. If you could tell me how can I get clients.
Ive heard From many Experinced Ones That They Use Asana, Upwork To put their Profile and Talk about What You Speclize in like Customer Clean up. Or other Things that You Offer
I really want to get my own business started all tips are so helpful. The fear keeps me from going forward. I was not able to finish my courses to get the diploma and my cpa designation unfortunately so I want to start my own business based on my current situation
I loved this video! Subscribed. 🙂I am just starting my business. I have my LLC and those things set up but I am really unsure about when to start because I am still having a hard time understanding a lot of QBO stuff. I have a tutor now that I talk to weekly and she has offered to help me with any questions each week as I work through any client work. I feel like I need to know a lot more before starting to get clients. Do you think I'd be able to get through my clients work and do a really good job with very little QBO knowledge and the help of a tutor or is there a certain amount to learn first? How did you learn QBO and was it hard for you?
Hello, What are the requirements to start a payroll company business? Do I need a certain degree or license even if I have the knowledge? I like to do this nationally
I’m an about to start bookkeeping for a small business I am going to have to do a little clean up first. They mentioned they transfer money between their personal and business account. Probably not the best thing to do and I am going to get to the point where I can help them figure out more of a better system-but how do you categorize these transactions? Thank you for your helpful videos.
I love your question, and I share your concern about the money flow from/to personal and business. I think it's one of those things you are just going to have to deal with for a bit until the client trusts your perspective, and even then it may take you "training" them as to a better way to utilize their finances. Categorize non-business transactions as Owner's Draw.
You definitely can do it! I hope landing on my channel you’ll find some other useful videos to help you get started! If you are searching and don’t find a video on a topic you think would be helpful, let me know!
I will definitely add this to my list of videos to make. I will first need to compile some tips from that specific audience, but when I do I will definitely share what I find!
Hi! I just want to know if can I call myself as a bookkeeper while promoting my bookkeeping business even I dont have experience at all? I know every single stuff you mentioned and I've been playing around on excel, watching videos for accounting knowledge I can get. I just don't have any certification or in any software you mentioned. I also wonder can I start a bookkeeping business just using excel?
Yes, absolutely! One of my small clients, whom I do invoicing for, talked about me to one of his clients (who hired him as a contractor) who currently has a bookkeeper that wants to retire, so I am now on his radar :) Word of mouth is wonderful!
I'm sorry if I didn't list the Facebook groups in the description, here's my list: Bookkeeping Side Hustle Group, Vickie Watkins Virtual Bookkeeping Community, 5 Minute Bookkeeping with QuickBooks Online
Thank you for sharing this video. Although I already have a Bookkeeping and Accounting business of my own, I think there are some more things I have to learn, as well as such things I have to review.
...hello world, I think before you start to use any 'professional' applications such as sage , qb , exchequer ,etc students need to learn the principles of book-keeping and accounts You cannot prepare accounts unless your book-keeping is error free. Way forward would be to use excel and become proficient so you learn why the double entry system works. if anyone has a specific question , do ask and I will explain in a simple manner if I can .
How about a video on how to start, i.e.: Step 1 - Download QB Accounting Pro; Step 2 connect to a client's bank feed; Step 3 Set up Chart of Accounts - How do you know what is an expense vs a liability, what is considered an asset vs an expense or a liability. That would be great to know.
Hey Rachael. What are the top 10 common mistakes an Business owner(client) make when they input on a ledger/Transaction book?
I just came across this video while do a little youtube surfing and wanted to share a bit of advice to newbie bookkeepers. I would never recommend that someone start their own business and then learn bookkeeping afterward. Anyone can call themselves a "bookkeeper" but it is much more than just entering transactions and running a couple of monthly financial statements. When a client hires you to do their bookkeeping, they expect and deserve an EXPERT who understands accounting. You should be experienced and educated enough to handle complex issues that come up like interpreting a variety of financial statements, doing journal entries, and understanding what is going on behind the scenes in QuickBooks just to name a few. I can't tell you how many times I've had to clean up a mess that a so-called bookkeeper made in a client's books. You have to know what to look for, how to fix it and be able to explain bookkeeping and accounting principles to your clients. I learned bookkeeping and QB on the job and immersed myself in learning everything I could. It wasn't until many years later that I actually decided to get a degree in accounting but I'm glad I did. If you want to start your own bookkeeping business, please make sure you already have adequate knowledge and experience working QuickBooks in a variety of industries BEFORE taking on your first client.
Mary, I appreciate your insight. Please make sure to provide actionable steps for people that are interested in becoming bookkeepers but don't have the experience you are referencing. Coming from a background in education I have learned that telling someone they aren't capable of doing something but not offering them a way to learn and grow to get there is demeaning. If you believe that someone can't start bookkeeping without the adequate knowledge and experience you mentioned, do you have ideas of ways they can get that knowledge and experience? I know my viewers would love that information.
I totally agree with you, I have a degree in Accounting and Finance and I do bookeeping for a few friends and family, am yet to set up professionally as a bookkeeper but what I know is, the clients will ask you questions of which if you have no prior knowledge or understanding you will struggle to answer. They expect you to know what you are doing otherwise you are setting yourself off for faiure. I also suggest if someone want to be a bookkeeper get some form of training before starting. It's better to invest in learning than getting inside and then get stuck in the middle.
@@RealisticBookkeeping I really appreciate your message here. This post had me so discouraged thinking I had to be someone with multiple degrees and an extreme amount of knowledge that wasn't even attainable. It was like a huge slap in the face. I know countless people that learned as they started and moved through things and they did an amazing job with their clients and in a short time were making six figures and were extremely knowledgeable, while having no degree. (super nice people too)
Thanks for explaining. Although I have a degree in BBA and I have learned QuickBooks and bookkeeping from the internet too, I’m not getting clients. If you could tell me how can I get clients.
Ive heard From many Experinced Ones That They Use Asana, Upwork To put their Profile and Talk about What You Speclize in like Customer Clean up. Or other Things that You Offer
Thank you for sharing! Love how clear and concise you are when explaining and straight to the point! I just subscribed to your channel!!🎉
Welcome back. I love the slides! Great idea. Can't wait for more.
Yay! I'm glad they are helpful/useful!
I really want to get my own business started all tips are so helpful. The fear keeps me from going forward. I was not able to finish my courses to get the diploma and my cpa designation unfortunately so I want to start my own business based on my current situation
Gina, you absolutely can start right where you are. I guarantee you have enough business/accounting knowledge to get going! I believe in you :)
I loved this video! Subscribed. 🙂I am just starting my business. I have my LLC and those things set up but I am really unsure about when to start because I am still having a hard time understanding a lot of QBO stuff. I have a tutor now that I talk to weekly and she has offered to help me with any questions each week as I work through any client work. I feel like I need to know a lot more before starting to get clients. Do you think I'd be able to get through my clients work and do a really good job with very little QBO knowledge and the help of a tutor or is there a certain amount to learn first? How did you learn QBO and was it hard for you?
Hello, What are the requirements to start a payroll company business? Do I need a certain degree or license even if I have the knowledge? I like to do this nationally
Thank you for these videos
I’m an about to start bookkeeping for a small business I am going to have to do a little clean up first. They mentioned they transfer money between their personal and business account. Probably not the best thing to do and I am going to get to the point where I can help them figure out more of a better system-but how do you categorize these transactions? Thank you for your helpful videos.
I love your question, and I share your concern about the money flow from/to personal and business. I think it's one of those things you are just going to have to deal with for a bit until the client trusts your perspective, and even then it may take you "training" them as to a better way to utilize their finances. Categorize non-business transactions as Owner's Draw.
I want to get started!
You definitely can do it! I hope landing on my channel you’ll find some other useful videos to help you get started! If you are searching and don’t find a video on a topic you think would be helpful, let me know!
Would it be doable to just use google sheets for a bookkeeping business or do you recommend definitely using QB or xero?
Hi,
Could you prepare a vlog guiding the essentials to start a book keeping business from overseas clients !
I will definitely add this to my list of videos to make. I will first need to compile some tips from that specific audience, but when I do I will definitely share what I find!
Good stuff!!! 😊
Hi! I just want to know if can I call myself as a bookkeeper while promoting my bookkeeping business even I dont have experience at all? I know every single stuff you mentioned and I've been playing around on excel, watching videos for accounting knowledge I can get. I just don't have any certification or in any software you mentioned. I also wonder can I start a bookkeeping business just using excel?
You sure can!!
Great video Rachael! Have any of your clients led to new clients? Aka word of mouth?
Yes, absolutely! One of my small clients, whom I do invoicing for, talked about me to one of his clients (who hired him as a contractor) who currently has a bookkeeper that wants to retire, so I am now on his radar :) Word of mouth is wonderful!
thanks for this video! nice refresher :)
You're so welcome!
Can u do that customising invoices tutorial hun.
I do and see everything from my office.
I absolutely will! Hopefully within the next week or so :)
This is helpful
Love this info. What was the name of the Facebook group?
I'm sorry if I didn't list the Facebook groups in the description, here's my list: Bookkeeping Side Hustle Group, Vickie Watkins Virtual Bookkeeping Community, 5 Minute Bookkeeping with QuickBooks Online
Thank you for sharing this video. Although I already have a Bookkeeping and Accounting business of my own, I think there are some more things I have to learn, as well as such things I have to review.
...hello world,
I think before you start to use any 'professional' applications such as sage , qb , exchequer ,etc students need to learn the principles of book-keeping and accounts You cannot prepare accounts unless your book-keeping is error free. Way forward would be to use excel and become proficient so you learn why the double entry system works. if anyone has a specific question , do ask and I will explain in a simple manner if I can .