Accounting Basics for Small Business Owners [By a CPA]

Поделиться
HTML-код
  • Опубликовано: 27 янв 2025

Комментарии • 327

  • @colorsofcortney8757
    @colorsofcortney8757 3 года назад +147

    This content is incredible for small business owners who have no knowledge of accounting. I will be sending this to all of my customers for their review!!!

    • @LYFEAccounting
      @LYFEAccounting  3 года назад +5

      Wow thank you so much Courtney 😊😊😊

    • @kadenmarco576
      @kadenmarco576 3 года назад

      i guess Im randomly asking but does anyone know of a tool to log back into an Instagram account?
      I stupidly lost the account password. I appreciate any help you can offer me

    • @SnowyBlizzard
      @SnowyBlizzard 2 года назад +2

      It’s only distracting in my opinion because they’re too loud compared to the voice and they’re also not lined up properly, I also feel like not all the sound effects matched up with the graphics as well

    • @propertyrealtors970
      @propertyrealtors970 Год назад +2

      @@SnowyBlizzard I beg to differ for me the qualitative information was most helpful.

    • @jimmyabouelezz4583
      @jimmyabouelezz4583 Год назад

      Accounting software/system recommendation??

  • @rtanaka
    @rtanaka 3 года назад +13

    If y'all are hesitant about continuing on RUclips, don't be!! The content is great and is bound to grow. Keep it up.

  • @auntpurl5325
    @auntpurl5325 3 года назад +51

    Starting a small business, and I am trying so hard to learn to like the accounting side of things rather than dreading it. I appreciate the persuasive overview. I am beginning to see that it's crucial to start good habits in case my business scales up one day. This was super for an absolute beginner. I first just needed to learn the terminology in a straightforward way. It's a lot more interesting when you own the business.

    • @LYFEAccounting
      @LYFEAccounting  3 года назад +2

      Thanks for sharing Denelle, yes starting a business is hard in general. I would say that don't get to worried about the accounting side until your starting to spend some serious money or make at least 5 figures in revenue

    • @hopevity
      @hopevity Год назад +1

      Update?

  • @florentinoavilajr4237
    @florentinoavilajr4237 3 года назад +12

    I am seriously about to study this entire channel. I am in the makings of running and owning a auto detailing business and these videos have just opened my eyes to a whole new world that’s out there for small businesses. Thank you in my highest regards and keep making amazing content!!!

  • @albertumoh
    @albertumoh Год назад +4

    You are simply amazing. My high school teacher could barely get me here in 6 years but you did in 14 minutes. 😂❤

  • @klaranolan1566
    @klaranolan1566 7 месяцев назад +2

    Love IT! I know nothing about accounting and own a small language business… omg every month I am so scared to look at my account if I can or can’t get everything paid, now I know why ❤

  • @iamsamori
    @iamsamori 2 года назад +11

    This is soooo good! I've been in business for more than 25 years. Accounting has always been the weakest area of my business skillset. This was extremely helpful! I love how you presented the information in a clear, concise, and simple way. I didn't even like accounting when I was in college. That's probably why it is one of the most neglected parts of my business. But, not for long...

    • @user-uy3eq5hg1s
      @user-uy3eq5hg1s 2 года назад

      Me too... to be honest, all of this accounting stuff kinda drives me nuts. My business is low profit margin and tough to keep afloat as it is so hiring an accountant isn't realistic... but learning all of this myself is making my brain hurt and stressing me out. Maybe I should just come up with the cash to hire an accountant?

    • @jimmyabouelezz4583
      @jimmyabouelezz4583 Год назад

      Accounting software/system recommendation??

  • @BusinessBasics
    @BusinessBasics 4 года назад +18

    Good breakdown. A lot of these pointers I teach in my class of entrepreneurship students, such as accounting is the language of business, its value / purpose, and how to record and categorize transactions. You simplified it and made it easy to understand!

  • @theaccountant2909
    @theaccountant2909 3 года назад +14

    Nice video. Not only do you explain what accounting is, you also talk about the importance and how it can help with business decisions. And you provide some good financial analysis. Good job.

  • @Matake2007
    @Matake2007 3 года назад +186

    I love the content, only feedback is to maybe reduce the frequency of the sound effects. They get a little distracting at parts. Great vid!

    • @LYFEAccounting
      @LYFEAccounting  3 года назад +26

      Thanks for the feedback, we've dialed in down in our latest videos, let us know how those sound?

    • @marcusjonesphotography2846
      @marcusjonesphotography2846 3 года назад +14

      Keeps me from falling asleep

    • @lyingcat9022
      @lyingcat9022 3 года назад +1

      @@LYFEAccounting Smart choice :) Great vid though

    • @LYFEAccounting
      @LYFEAccounting  3 года назад +3

      @@marcusjonesphotography2846 😂😂

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      @@lyingcat9022 Thank Nick! Hope you consider subscribing

  • @loriehand8864
    @loriehand8864 9 месяцев назад +11

    I teach Small Business and Entrepreneurship to high school students. Your video is straight-forward and approachable. My students and I are very grateful!🙂

  • @nebiyum8430
    @nebiyum8430 2 года назад +1

    Excellent work! One of the best, if not the best videos I have seen about accounting!

  • @jasminegill5518
    @jasminegill5518 4 месяца назад

    It is the best video so far that I have come across

  • @ajsassafrass6883
    @ajsassafrass6883 2 месяца назад

    Thank you. I know all about doing the sales. Really need to dive into the accounting side begore starting my business.

  • @jannetteortiz5508
    @jannetteortiz5508 2 года назад +1

    This is great. I'm going to listen to it until it sinks in. Thank you 🙂

  • @gurufix1769
    @gurufix1769 3 года назад

    The Best Video for small business accounting.

  • @LT-uq6dg
    @LT-uq6dg 9 месяцев назад +2

    You get a like and subscribe from me because 1) you did NOT ask me to like your video for no reason at the beginning like other content creators and 2) you created a well scripted presentation that explains this topic so well.

  • @tracylanda1207
    @tracylanda1207 4 месяца назад

    This video was useful! Definitely subscribed and will keep watching!

  • @miguelmontrell996
    @miguelmontrell996 3 года назад +6

    I LOVE LOVE LOVE THIS CHANNEL....THE graphics are cool and well laid out! Catching up on all your content. 😇

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Thanks so much!! Hope you consider subscribing?

  • @deehno9018
    @deehno9018 4 года назад +3

    I was actually looking on information regarding becoming a CPA and if it worth the extra schooling to do it but ran into this channel. I didn't find my answers but I feel like I just struck gold with y'all.

  • @thedoubleboiler6971
    @thedoubleboiler6971 3 года назад +1

    I am not new to budgeting, or finance and yet, still learned something new and was glued in, while looking for information in starting my new business. This was a well made video and thank you for sharing.

  • @kurleykath.
    @kurleykath. 3 года назад +3

    AMAZING! This video was extremely helpful! Just a few days a go, I had no idea what the difference between bookkeeping and accounting was. This has helped me understand a lot better!

    • @LYFEAccounting
      @LYFEAccounting  3 года назад +1

      You're so so welcome! Thanks for the feedback :)

  • @cwrighta70
    @cwrighta70 3 года назад +8

    You, sir, need more views and subs. Great info and presentation! Easy to understand!

  • @majorconsultingllc9074
    @majorconsultingllc9074 3 года назад +5

    I hit the like button before I even hear your entire video. I absolutely LOVE the way to explain things. You're so simply detailed yet perfect in your delivery. I learn so much from you and your partners. I'm thinking about giving you guys a call because I have a few questions concerning my business I recently started.

  • @marp9401
    @marp9401 3 года назад +2

    Thank you for this video, it's very helpful! Well detailed, as a small business owner I've been feeling very overwhelmed with the accounting side of the business.
    This video have a great amount of information.
    Thank you!!

  • @divarose2017
    @divarose2017 3 года назад

    I have been thrown into helping my son with his new business and it all seemed soo overwhelming and lose sleep. After listening to your video, I have a peace of mind that with your easy explanations, that I can do this:-) Thank you so much:-)

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      You got this! 💪🏾 Let us know if there is a topic you'd like more clarification on.

  • @lahiru_jayashan_geeganage
    @lahiru_jayashan_geeganage 2 месяца назад

    Clearly explains everything ! Cheers

  • @sulusghebreamlak2613
    @sulusghebreamlak2613 3 года назад +2

    I am really extremely so happy with this video. and knowing the difference between Accounting and Bookkeeping. It is very useful. Thank you so much.

  • @armeltchibinda1274
    @armeltchibinda1274 4 года назад +4

    Hi.
    Clear, simple as info to digest. Keep up the good work! Thank you, sir.

  • @tazrockymuff
    @tazrockymuff 3 года назад +1

    Love it! Short, sweet, and to the point and very informative.

  • @andreacarter2108
    @andreacarter2108 3 года назад +6

    As ALWAYS, "The Best of the Best" information provided with basic and complete instruction. 👌 Thank you for the Wisdom, Guidance and Knowledge! 👍🙏

  • @quincystern4899
    @quincystern4899 3 года назад +1

    Great video. I think the key ingredient with this channel is the structure of your videos. This one was outstanding.

  • @terrisaelee7776
    @terrisaelee7776 2 года назад

    Very well organized and educational video. Easy to take notes for future reference. Thank you.

  • @Sarahtimayaa
    @Sarahtimayaa 3 года назад +4

    This is great, very easy to understand!

  • @Arvolve
    @Arvolve 3 года назад +1

    Amazingly valuable information very clearly explained, thank you!

  • @beckywilliams5172
    @beckywilliams5172 3 года назад +1

    Please keep doing what you’re doing. Highly educative! Subscribed!

  • @yvonnec3234
    @yvonnec3234 2 года назад

    I enjoyed this video simple to understand the importance of good accounting business practices

  • @Ray-yk2fn
    @Ray-yk2fn 2 года назад

    Wow this video has opened my eyes! Thank you for this valuable information.

  • @ikselxzy8533
    @ikselxzy8533 Год назад

    This was very simple to follow and broken down perfectly
    Thank you so much ❤

  • @MrLynnie98
    @MrLynnie98 3 года назад +2

    Wow thank you SO much!! Everyone needs to know about this stuff

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Thanks Jessie!! Just curious, which part did you find most helpful?

  • @tharanyamoodley7020
    @tharanyamoodley7020 2 года назад +3

    Thanks so much for such an amazing and informative video! I am 21 years old and am trying to handle my companies finances correctly, so this video was very helpful. Do you perhaps have any suggestions on which platforms are best for financial bookkeeping? Platforms which are secure and helpful to record business transactions from business accounts?

  • @re-zish3086
    @re-zish3086 3 года назад +1

    Nice. Super Clear and Valuable!

  • @shanegrubbs3165
    @shanegrubbs3165 3 года назад +7

    You all are great I probably need you in my life or at least my business does lol 😆

  • @DreamFirms
    @DreamFirms 4 года назад +4

    Great tips to those who are planning to start their small business!

  • @ronmakhan7780
    @ronmakhan7780 4 года назад +2

    thank you for explaning the accounting system in such a clear way

    • @LYFEAccounting
      @LYFEAccounting  4 года назад

      It is my pleasure, thank you for watching!

  • @majorpromotion6018
    @majorpromotion6018 3 года назад

    Great video 4 new business owners. Now I can start fresh with keeping up with accounting

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Glad it helped! Feel free to check out our playlist on how to help business owners manage their money: ruclips.net/video/bJTZbfq7amQ/видео.html

  • @alyssarowe7003
    @alyssarowe7003 2 месяца назад

    I completely agree! Great information, but I found that noise to be very distracting and really took away from the content. Hard to hear what he saying I’d love to be able to watch it again without that noise.

  • @hanadqassim6333
    @hanadqassim6333 6 месяцев назад

    I love this content, super useful ❤

  • @akino007ful
    @akino007ful 2 года назад

    Fantastic and simple way to explain accounting basics. I would like to know if money in your business account after deducting for liabilities is considered as an asset?

  • @trulythrivinglives
    @trulythrivinglives 3 года назад +5

    Love this video! Thanks for speaking slowly, and for explaining each new term you came across, because this is like a new language to me :) also loved the fruit ninja reference 😁

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Thanks so much for the feedback! Very good to know

  • @janaebeckford
    @janaebeckford 3 года назад

    This video popped up in my list of recommened videos to watch and I must say I'm half way into it and already made the decision to subacribe. Thank you so much for the great info, because as a new business owner I do dread the accounting aspect of things. But if I want my business to succeed then I must embrace all areas of the business...including the financial part. So thank you for helping us to understand the importance of financial and for making it enjoyable to learn.💕🙏

  • @justwhistlinpixie
    @justwhistlinpixie 3 года назад

    Great video. My accounting classes from 15 years ago needed brushing up.

  • @kadosworld2232
    @kadosworld2232 2 года назад +2

    THANKKKKK YOUUUUUUUUUUUU 😫😫😫😫😫😭😭😭😭😭😭😭😭😭😭😭😭😭😭 NOW I KNOW. UGH YOURE A LYFE SAVER (lol get it,? LYFE saver… LYFE accounting??) hehe.. but thanks to everyone who worked on this video ❣️😘

  • @Chase-qq9no
    @Chase-qq9no 2 года назад

    Excellent presentation and very informative!

  • @sdsamuel07
    @sdsamuel07 Год назад

    Love the information. It was very easy to understand.

  • @ryanfrizzell736
    @ryanfrizzell736 2 года назад

    Great video. I enjoy learning more about accounting basics for small businesses. Importantly, I understand payroll is a basic and essential function of business and the accounting within business.

  • @thesiblingrap2127
    @thesiblingrap2127 3 года назад +1

    Great content . Thank you. You are great Teacher.

  • @seviorakogluozbelli6256
    @seviorakogluozbelli6256 3 года назад

    Very useful. Very clear and organized. Thank you very much indeed!

  • @dcmsr5141
    @dcmsr5141 3 года назад +2

    I have a reasonably hard head and the video took me (I'm not going to tell a lie) 1 hour. So much information and a lot to unpack. Please stick with this and keep us informed.

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      If you keep watching and taking notes, omg you're going to be a superstar

  • @sreynet9907
    @sreynet9907 3 года назад +1

    What a great content! Thanks for sharing.

  • @GETtv123
    @GETtv123 3 года назад +1

    I saw you at the Atlanta Game vs the Charlotte Hornets 11/20/2021. . . Love these informative videos!

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Ha, you likely saw my brother Sean. We appreciate the support.

  • @alfredorosalesjr797
    @alfredorosalesjr797 3 года назад

    Great job breaking it down! I will watch more of your videos!! Thank you!!

  • @hanadqassim6333
    @hanadqassim6333 6 месяцев назад +3

    Who is heading direct to all his videos like me😊

  • @Hello-tj2cp
    @Hello-tj2cp 3 года назад +1

    Thanks Sherman! Been in the casino industry my whole adult life, and looking for a career change

  • @docterwilliams5532
    @docterwilliams5532 2 года назад

    Outstanding job, very informative.

  • @charlieblanding9321
    @charlieblanding9321 3 года назад +1

    I really learned from this thank you

  • @lastfrontier_vanscapes5694
    @lastfrontier_vanscapes5694 3 года назад +1

    Fantastic information! Very easy to understand coming from someone that knows NOTHING about business finances

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Great to hear! Hope you consider subscribing?

  • @planepretty5920
    @planepretty5920 3 года назад

    Thank you for the informative video! So easy to follow.

  • @dannyb213
    @dannyb213 2 месяца назад +1

    I feel like I have a good understanding on how to do it on paper but no idea how to document in QuickBooks.

  • @asfybylorna5920
    @asfybylorna5920 3 года назад

    Great video - thanks for sharing and I will certainly share with others who are unsure or are completely new to this subject.

  • @lcmlcm2460
    @lcmlcm2460 2 года назад

    Very well presented THANKS

  • @jesdadotcom
    @jesdadotcom 3 года назад +1

    I really appreciate your content!

  • @charlotteolden8220
    @charlotteolden8220 Год назад

    Always great helpful applicable info

  • @ZoellesWorld
    @ZoellesWorld 2 года назад +1

    Thank you for that very clear breakdown. The content was useful and easy to follow.

  • @StevenYen
    @StevenYen 2 года назад

    This is SO good - I went to UT Austin supposedly the best accounting program in the US, but they weren't able to make learning about accounting this engaging. Big thanks for making this and will be watching the rest of your videos!

  • @techrescuestl
    @techrescuestl 3 года назад +1

    Mr. Nameless CPA does a great job presenting. Why do you not ever give his name? NAME HIM. Allow us to know who he is. Give the man a credit.

    • @shermanstandberry
      @shermanstandberry 3 года назад +1

      Here's my name

    • @techrescuestl
      @techrescuestl 3 года назад

      @@shermanstandberry Thanks. Nice to meet you, Sherman. I'm Lee. I like your style.

  • @claudiavaldes190
    @claudiavaldes190 3 года назад +1

    Great video, so easy to understand. Thank You!

  • @veronicaalessandrello1022
    @veronicaalessandrello1022 Год назад

    Excellent content superbly presented. 🎉🙏

  • @hcab8118
    @hcab8118 3 года назад +1

    Awesome video, thank you

  • @4DaStrtz
    @4DaStrtz Год назад

    thanks this was so helpful I taught me a bunch

  • @TheRelaxationZone1
    @TheRelaxationZone1 4 года назад +3

    Thanks a lot great content and tips

  • @franceswalker2627
    @franceswalker2627 3 года назад +1

    I've had accounting but it's nice to have refresher! I still wouldn't trust my accounting skills. lol

  • @cloudaround
    @cloudaround 2 года назад

    Fantastic video. Thank you!

  • @carlosaguilera2797
    @carlosaguilera2797 2 года назад

    Thanks for the content very thorough 👍🏼👍🏼👍🏼

  • @donijoneslive
    @donijoneslive 3 года назад +3

    This life changing! Awesome!!

  • @charlottehyatt4208
    @charlottehyatt4208 2 года назад

    I love the information you give in all your videos.
    My question is, if you register for an llc in March but don’t use it - do you have to file a schedule C for 2022? There are no major issues/expenses that will require me to file a 1040 long form.

  • @vietdia4458
    @vietdia4458 3 года назад +1

    Hey guys, great content! I can’t wait to see you grow. :)

  • @SunnysideUpProductions
    @SunnysideUpProductions Год назад

    Great video man 👍

  • @juliascarola2387
    @juliascarola2387 2 года назад

    Such a wonderful video thank you so much!!

  • @premkumarkhammam5914
    @premkumarkhammam5914 10 месяцев назад

    Explained very well 😊

  • @yojmond100
    @yojmond100 Год назад

    Excellent material!

  • @going2sleep
    @going2sleep 3 года назад

    What an amazing channel you have!

  • @adnanshamsi4894
    @adnanshamsi4894 3 года назад

    Explained with clarity👍

  • @TophoriMusic
    @TophoriMusic 3 года назад

    This info is amazingly laid out and explained. Good job. Liked and subbed.

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Welcome aboard! Glad it helped. Looking forward to seeing your comments on future uploads =)

  • @lokeshwarik5788
    @lokeshwarik5788 3 года назад +1

    Thank you for this vedio and it's so useful🙏

  • @johnnycolebut4698
    @johnnycolebut4698 3 года назад +1

    You guys are awesome!!!

  • @jacobjunior5000
    @jacobjunior5000 Год назад

    Thank you for the brilliant video

  • @DiviValerio
    @DiviValerio Месяц назад

    Thank you😊❤

  • @theversatilevirgo
    @theversatilevirgo 3 года назад

    Great video! Your explanations were easy to understand while still providing a multitude of info. Much appreciated 🙌

  • @chrishanthakumara7877
    @chrishanthakumara7877 Месяц назад

    very useful thank you