You are much better than a university professor in articulating the knowledge of accounting. I really appreciate how you explain the concepts in a very simple and vivid manner with practical business scenario. Thanks for making me easy to understand the subject.
amazing!!! i literally spent all afternoon trying to learn about single entry bookkeeping and this video help me understand it like less than 5 mins!!!!!!! thank you !!!!!!!!!!!!!!!!
The hand movements help me stayed focused😊, thanks for making a comprehensive video just for people like me. I was engaged and encouraged to try it myself. A big thanks!
You are AWESOME. I LOVE YOU. 😄 your videos are so excellently done . you are so fun, speak so clearly and make everything so much easier to understand. Your videos are helping my son learn about bookkeeping and accounting better than any other videos Ive found to help him begin learning. I hope your life is blessed many times over for sharing your talent, humor and your own wonderful intelligent style that is so extremely helpful to others.
Hey Heidi! Thank you, that's kind of you to say!! It's fantastic to hear that the videos are helping your son learn these topics. I wish you both all the best!
This channel is absolutely one of my favs and I'm not even an accountant yet! You, Sir, are the most entertaining talker of the money topics that I have ever seen! Congratulations on being absolutely AWESOME at one you do here:)
You know what I need? I need to know WHICH VIDEO TO START WITH! If I'm a complete beginner, I need to know what comes first. We all get too wrapped up in detail and we need to K.I.S.S.
Same. I took a class years ago and the instructor said accounting is an art. You can see what kind of instructor that is. It was hard to grasp the concepts so I'm glad for RUclips and this video/etc
THANK YOU so much!!! I wish my lecturer is as candid as you when i was in college so i dont have the relearn again at this age when i just starting business
Thank you so much for very useful video. I have been trying to find how to do simple bookkeeping for my small business and none are useful for me except this one.
I wish you were here! Thank you for this video I love it. We started our business and as it is growing we want to make sure we don't loose sense of it until we are able to get a good accountant. If u are for hire/consulting, holla!
Recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.
With the assistance of an investment advisor, I was able to diversify my $401k portfolio across multiple markets, earning over $980k in net profit from high dividend yielding stocks, ETFs, and bonds in just a few short months.
My Financial adviser is ‘’Jackson Sten Marsh’’ he’s highly qualified and experienced in the financial market. He has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching he credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you so much for such an easy to understand explanation. I do some freelance work casually and needed a way to keep my books that provides enough info for doing my personal tax return (sole trader) accurately and this is perfect. The thought of doing double-entry and journalling etc. was a bit daunting and I was sure I remembered there is another method from way back in 3rd form economics, this was it :) I'll definitely be using your referencing tip for my receipts etc. too. A quick question that might make a good topic for another video though, how would I record a transaction where only a percentage of an expense is being charged to the business? In New Zealand, we are able to claim a percentage of certain expenses like power if operating from a home office. I know how to calculate what percentage I can claim as an expense but wonder how to account for each bill in my books? I can think of several ways but am not sure what would be best.
Hey there, no worries. Glad to hear that the video helps. This way of recording transactions is fairly basic but it get's the job done. At some point i would recommend considering something like QuickBooks Self Employed that does the same thing but better and more efficiently. It does cost though, so up to you. I would take the percentage that you use for business and include that within the template. If you are doing this for tax purposes you might need to check if there are any limits of the proportion that you can charge in NZ (depending on the transaction type). Cheers for the suggestion!
Sooo, I have this problem that I started my business and didn't have a business account. Now I have one but there's still some business transactions that are taken from my personal account. How would you account for those in this single entry system? I tried keeping track of my cash expenses and my bank transactions but at some point they have to come together, right?
This is pretty well how I ran my rental property for years. That was simple though; mortgage, insurance, and repairs goes out, rent goes in. Rince and repeat.
@@shawnchristophermalig4339 Repairs are most common. If you have a vaccancy than adds, costs of heat etc while vacant, insurance changes year by year, mortgage is not a cut and dry number as (at least in Canada) the part that goes to paying intrest is tax deductable, and then part goes against the principle, which is hopefully a little more everytime. Also I like to buy my tenants a Christmas basket every year. This is not an overly comon expense, but most buisnesses where a customer makes a transaction of over $1500Cdn a month the buisness at the very least sends a Christmas card. I (and some others) feel no reason rentals should differ in this. If you have a property manager, then there is another cost. Income is a little more direct, with rent being the same every month.
Your videos are helpful, thank you. I’m trying to learn more to help my grandfather who was recently appointed conservator of his wife who has dementia so we need to get organized to report on all her money coming and going. Any suggestions for other videos to watch?
So cell G28 on multi-column, should it be used to show profit only for that month or for your business as a whole by taking into account previous months' closing amounts? because what i'm doing on this template is on every new month i'm taking the closing amount and putting that on "sales" column for "opening balance" row. am i doing it correct?
ThankYou for sharing your knowledge and template. I just started a new business and I hope this video will help me to follow the money tracks of my business. I subscribed to your channel, and I am going to try this new world of accounting.
Hi Thanks for sharing the template.. I'm in the UK so when I change the currency to £ sterling it reformats the sells and removes the ( ) for the -£ how do you show ( ) rather than - numbers? Thanks! Dan
Hey, Thank you for this informative video, your bubbly personality really helped me stay till the end of the video haha! Just wondering if you could possibly explain how to do bookkeeping for someone who is starting to sell on ebay/etsy for the first time as an online seller. I believe it will be a bit different from this? Could you be kind enough to take the time to explain? BTW, you have gained a new fan in me!
This is terrific and I've been using it for a few months now. Thank you for giving it to us for free! However, I need to add a few more rows each month and when I do, there is no formatting that goes with them so I have to manually calculate those rows. Is there a trick to getting the formatting into my new rows?
You're Taking This Channel To The Next Level :D Please Make a Video on Your Future Plans / Goals For This Channel It Would Be Great For You & The Consumers
Hi James! So glad I found your channel. I am a digital marketing student and I am enrolled in an Account II class. I don't remember Accounting I, and I am overwhelmed. Do you know any accounting software I can use to input data to simplify the accounting statements? Thanks so much!
If you are just getting started then it may be worth looking into cash accounting. It could help save you time and keep the costs down. But as things progress you may need to move into Accrual Accounting
before start a bookkeeping business,i want to work as virtual bookkeper in virtual bookkeeping firm(part ime or full time )i am sri lankan,If i have proper qulification can i find a virual bookkeeping job in virtual bookkeeping firm.I am not asking the name of the firms,Can i know, bookkeeping firms in USA or any other country recruite the employess from another @t you know any websites give information those job vacancies?Thank you
Hi, great video! Just wondering how to change the currency while keeping the money spent red. I have changed to £ and it changed its colour but I really liked how the red looked, thanks
What if you use your phone for sheets and is the phone application the same as on a laptop, features and all? Although one could purchase a computer, I'd argue that your phone is essentially such in your hand and, therefore, could be used the same way; thoughts?
I'm AAT level 3 qualified and I did pass 2 exams at level 4.. and its useless; not only can I not get a job but I've learned nothing. I mean, by now I should be ready to become a self employed bookkeeper... but I don't even know what that means. Do people just bring me receipts and I put them somewhere into excel? I genuinely don't know because I can't get any real life experience, because I need experience for that. Seems like everybody thats hiring is a tory lol. Its like me saying "ill teach you how to backflip, as long as you can backflip already"
Thank you for these videos. I am no longer scared of spreadsheets. i have just added this one and going to attempt it last year. its a start. I have a lot of out goings for cost of goods resale, as a sole trader. Is this method suitable for my records?
Thanks for the video! I am running into some issues when adding columns and rows. It won't auto calculate on the new rows and columns. I might be just dumb but do you have a video for troubleshooting this?
Sorry I don't I'm afraid. If you add / remove columns and rows then you may need to keep checking the formulas to make sure they're still working correctly
Great video! I hope someone can help me! I started selling eBay some time ago, recently it has kicked off and got to point where I’m going to start it as a business! I want my accounting to be as basic/easy as I can make it, I’m probably selling around 100 items a month! In my book keeping do I need to list every sale, or can I just ebays monthly data! For example April’s sales + £800 April Courier delivery fees - £50
Is there a way to integrate this with a client contact list? Like if I made a sale to a specific client, it will show on the transactions list and be linked to their customer profile? This may be very complicated but I'm just curious. I may need to use software for something this in depth. Thanks for the video!
I've never seen someone so pumped about double-entry accounting.
Can't get enough of it!
Check his link out, Then you will understand, FREE the link says this guy is full of shit.
@@johnpearson6232 I downloaded his FREE ACCOUNTING TEMPLATE and I am so thankful. Now my bookkeeping has started for my small business.👍👍❤❤
Someone took drama classes in school! I love how animated you are! Great vid!
ha ha just what I need to actually pay attention to this stuff! jokes!
😅😅
🤣🤣🤣🤣🤣
😂😂😂
You are much better than a university professor in articulating the knowledge of accounting. I really appreciate how you explain the concepts in a very simple and vivid manner with practical business scenario. Thanks for making me easy to understand the subject.
Thanks for your kind words :)
amazing!!! i literally spent all afternoon trying to learn about single entry bookkeeping and this video help me understand it like less than 5 mins!!!!!!! thank you !!!!!!!!!!!!!!!!
You're welcome! Glad it's making sense
I finally got a start in Bookkeeping. This one's a solid.
Good on you! Best of luck with it
The hand movements help me stayed focused😊, thanks for making a comprehensive video just for people like me. I was engaged and encouraged to try it myself. A big thanks!
Glad it helped!
I really appreciate The Single Entry Account for recording my business activities.
Glad to hear it's working out for you
I must say you make Bookkeeping seem very simple and easy, much appreciated and thnx
Thanks Aldah!
Clicked because of your video Icon. I'm feeling more confident about doing my own bookkeeping.
That's great to hear! All the best :)
You are AWESOME. I LOVE YOU. 😄 your videos are so excellently done .
you are so fun, speak so clearly and make everything so much easier to understand.
Your videos are helping my son learn about bookkeeping and accounting better than any other videos Ive found to help him begin learning.
I hope your life is blessed many times over for sharing your talent, humor and your own wonderful intelligent style that is so extremely helpful to others.
Hey Heidi! Thank you, that's kind of you to say!! It's fantastic to hear that the videos are helping your son learn these topics. I wish you both all the best!
I stayed because of his personality.
This channel is absolutely one of my favs and I'm not even an accountant yet! You, Sir, are the most entertaining talker of the money topics that I have ever seen! Congratulations on being absolutely AWESOME at one you do here:)
Thanks for your kind words!
You know what I need? I need to know WHICH VIDEO TO START WITH!
If I'm a complete beginner, I need to know what comes first. We all get too wrapped up in detail and we need to K.I.S.S.
I appreciate how you explain everything. Clear and simple. Thanks and more power!
im so done with accounting at school, so im here to learn from u for my exam tmrw
Good luck!!!
Same. I took a class years ago and the instructor said accounting is an art. You can see what kind of instructor that is. It was hard to grasp the concepts so I'm glad for RUclips and this video/etc
Finally, a simple way to start my business accounting-THANK YOU!!!!! 🙏🏽🎉💥
No problem! Best of luck with it all
You're such a great great man. Also the most engaging RUclipsr I've came across. Keep up the awesome work 😎
Thanks Charlotte, will do!
Thank you accounting stuff for these videos your lessons were my foundation to start my accounting journey.
Best of luck on your journey!
THANK YOU so much!!! I wish my lecturer is as candid as you when i was in college so i dont have the relearn again at this age when i just starting business
No worries, happy to help!
I have been looking at videos like these and this is by far the best and most appealing to look at ! thank you so much!
Thanks, glad you enjoyed it!
Content starts at 2:27. You're welcome.
Thank you so much for very useful video. I have been trying to find how to do simple bookkeeping for my small business and none are useful for me except this one.
Glad I could help!
I already hit the like button after five seconds. Dramatic intro. 😂
Haha, thanks Dawn! Much appreciated :)
Thank you so much I was doing my best to help my dad and this helped me so much
Perfect explanation and placing this into the whole picture.
Thanks! Glad you enjoyed it :)
I remember when you had 1900 subscribers, way to 100K now. Keep going brO.
Hey Rishad, that doesn't seem like too long ago! Thanks for all of your support :)
ITS 244K NOW👍👍👍👍
THANK YOU SO MUCH! The template is EVERYTHING!!!
No worries Courtney! Hope it helps
Grab your business's finances by the Income Statement and Balance Sheets lol
I wish you were here! Thank you for this video I love it. We started our business and as it is growing we want to make sure we don't loose sense of it until we are able to get a good accountant. If u are for hire/consulting, holla!
Great to hear your business is growing! Best of luck with it all :)
Hey thanks so much for this! I was wondering if this is acceptable for bookkeeping etsy payments? is there a way to change the currency?
Thanks you so much. Explanation so concise and clear. Wish a lot of teachers could make it as simple as you did. Please keep posting.
this... is very useful. I'M GOING TO BE A MILLIONAIRE!
Finally as clear as the Sun in a beautiful day..
Thanks Mate :)
No problem 👍
Recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.
With the assistance of an investment advisor, I was able to diversify my $401k portfolio across multiple markets, earning over $980k in net profit from high dividend yielding stocks, ETFs, and bonds in just a few short months.
Would you mind recommending a specialist with a variety of investment options? This is extremely rare, and I eagerly await your response.
My Financial adviser is ‘’Jackson Sten Marsh’’ he’s highly qualified and experienced in the financial market. He has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching he credentials further. he has many years of experience and is a valuable resource for anyone looking to navigate the financial market
He appears to be well-educated and well-read. I ran a Google search on his name and came across his website; thank you for sharing.
If you clicked the link that said FREE and realised this guy is looking for a handout give me a thumbs up.
It is free
Thank you so much for this. My question is...I didn't start doing this from the beginning. How can I catch up now? Or just to start from April 1st?
Thank you so much for such an easy to understand explanation. I do some freelance work casually and needed a way to keep my books that provides enough info for doing my personal tax return (sole trader) accurately and this is perfect. The thought of doing double-entry and journalling etc. was a bit daunting and I was sure I remembered there is another method from way back in 3rd form economics, this was it :) I'll definitely be using your referencing tip for my receipts etc. too.
A quick question that might make a good topic for another video though, how would I record a transaction where only a percentage of an expense is being charged to the business? In New Zealand, we are able to claim a percentage of certain expenses like power if operating from a home office. I know how to calculate what percentage I can claim as an expense but wonder how to account for each bill in my books? I can think of several ways but am not sure what would be best.
Hey there, no worries. Glad to hear that the video helps. This way of recording transactions is fairly basic but it get's the job done. At some point i would recommend considering something like QuickBooks Self Employed that does the same thing but better and more efficiently. It does cost though, so up to you.
I would take the percentage that you use for business and include that within the template. If you are doing this for tax purposes you might need to check if there are any limits of the proportion that you can charge in NZ (depending on the transaction type). Cheers for the suggestion!
Thank you. You were the only effective one out of 6 videos I watched
Glad you found it useful!
thank you it's help me to do my final exam 😊
Good luck! Hope you ace it :)
Sooo, I have this problem that I started my business and didn't have a business account.
Now I have one but there's still some business transactions that are taken from my personal account.
How would you account for those in this single entry system?
I tried keeping track of my cash expenses and my bank transactions but at some point they have to come together, right?
This is pretty well how I ran my rental property for years. That was simple though; mortgage, insurance, and repairs goes out, rent goes in. Rince and repeat.
What are your cash in and cash out variables? Thanks in advance for your response.
@@shawnchristophermalig4339 Repairs are most common. If you have a vaccancy than adds, costs of heat etc while vacant, insurance changes year by year, mortgage is not a cut and dry number as (at least in Canada) the part that goes to paying intrest is tax deductable, and then part goes against the principle, which is hopefully a little more everytime. Also I like to buy my tenants a Christmas basket every year. This is not an overly comon expense, but most buisnesses where a customer makes a transaction of over $1500Cdn a month the buisness at the very least sends a Christmas card. I (and some others) feel no reason rentals should differ in this. If you have a property manager, then there is another cost.
Income is a little more direct, with rent being the same every month.
Oh yeah, they also tend to take more tax at the start of the year rather than at the end, so that changes.
Good one. You Full of energy of explaining the details.
Thanks!
Your videos are helpful, thank you. I’m trying to learn more to help my grandfather who was recently appointed conservator of his wife who has dementia so we need to get organized to report on all her money coming and going. Any suggestions for other videos to watch?
Sorry to hear your family going through that struggle. All the best!
Exactly what I was looking for. Subscribed.
Fantastic, Yo you can easily become Financial rubber. Keep up the good work.
This is exactly what I need! Thank you!
So cell G28 on multi-column, should it be used to show profit only for that month or for your business as a whole by taking into account previous months' closing amounts?
because what i'm doing on this template is on every new month i'm taking the closing amount and putting that on "sales" column for "opening balance" row. am i doing it correct?
Hello, when do you think I should start accounting? I’ve gotten a year in college as an accountant major.
Hey Josue, could you please clarify what you mean? If you are an accounting major then you have already started
Ur accountant then start bookkeeping also. Right now. Do the bookkeeping if i were u. Start ur bookkeeping. Accounting is already bookkeeping.
ThankYou for sharing your knowledge and template.
I just started a new business and I hope this video will help me to follow the money tracks of my business.
I subscribed to your channel, and I am going to try this new world of accounting.
No worries, best of luck with your new business! I hope it's a success :)
Are you excel affiliate? Is not free to have excel running monthly fees. Why not using the same with open office?
Love your facial expressions !!!
Thank you. This is extremely helpful and I am very grateful
Hi Thanks for sharing the template.. I'm in the UK so when I change the currency to £ sterling it reformats the sells and removes the ( ) for the -£ how do you show ( ) rather than - numbers? Thanks! Dan
Dude... you are incredible.
I think I'm still confused about the reference number. Could you say more about how to utilize that column?
Trying to get back in my account
Thanks a lot for this video and this tool.
Hey,
Thank you for this informative video, your bubbly personality really helped me stay till the end of the video haha!
Just wondering if you could possibly explain how to do bookkeeping for someone who is starting to sell on ebay/etsy for the first time as an online seller. I believe it will be a bit different from this?
Could you be kind enough to take the time to explain?
BTW, you have gained a new fan in me!
Cheers Roshini and thanks for your suggestion!
Do u do bookkeeping by industry specification?
This is terrific and I've been using it for a few months now. Thank you for giving it to us for free! However, I need to add a few more rows each month and when I do, there is no formatting that goes with them so I have to manually calculate those rows. Is there a trick to getting the formatting into my new rows?
I have a Single Cash Book. It is okay use that format that looks like a bank statement?
Thank you for this video honestly!!!!!
Double entry will always win
I would like to be on this level of excitement. Subbed.
Great to have you on board!
Excellent content! I really appreciate it!. Do you have a video where you use double entries on google sheets?
You're Taking This Channel To The Next Level :D
Please Make a Video on Your Future Plans / Goals For This Channel
It Would Be Great For You & The Consumers
Hey Faizan! Thanks I'm glad to hear that you appreciate the videos. Cheers for the suggestion, I would like to do a video like that soon
Hi James!
So glad I found your channel. I am a digital marketing student and I am enrolled in an Account II class. I don't remember Accounting I, and I am overwhelmed. Do you know any accounting software I can use to input data to simplify the accounting statements? Thanks so much!
Quickbooks
Hi! Im starting up a business but what kind of recording i should start with? do u have a video for that?
If you are just getting started then it may be worth looking into cash accounting. It could help save you time and keep the costs down. But as things progress you may need to move into Accrual Accounting
why cant i find the sum calculation of the money loss in the excel or google excel spreadsheet of my own?
Do you have a video for keeping track of sales taxes?
Thanks for making this video! Saves me a lot of money on app subscriptions for this type of bookkeeping
No problem!
Omg! Are you a Potterhead? I love the content and I love the context you use! So I'll be your subscriber from now on. 😊
Haha, I am indeed. Cheers for the sub! All the best :)
@@AccountingStuffan accountant and a Potterhead 😊😍 that's so cool! I'm a Potterhead too. Thank you so much!
Fantastic - quick & dirty
before start a bookkeeping business,i want to work as virtual bookkeper in virtual bookkeeping firm(part ime or full time )i am sri lankan,If i have proper qulification can i find a virual bookkeeping job in virtual bookkeeping firm.I am not asking the name of the firms,Can i know, bookkeeping firms in USA or any other country recruite the employess from another @t you know any websites give information those job vacancies?Thank you
Thanks for the template I enjoyed your video and cool eyes
My playback was set for 1.25x and it's 3:30 in the morning. Ya animation was a little much, yet fantastic information
Bookkeeping at 3.30am - Ouch!
That "ooooo" got me 🤣🤣
Very informative. Im learning basic bookkeeping. Keep it up. Il watch ur videos.
mate my eyes are getting tired trynna decode your spasms. the vids great thanks for sharing!
Hi, great video! Just wondering how to change the currency while keeping the money spent red. I have changed to £ and it changed its colour but I really liked how the red looked, thanks
Hey Jemma, if you highlight the cells then you can go Format → Number → More Formats → Custom Number Format → then change the symbols from $ to £
JK Growling!!! Jajaja I'm not sure how committed i am to learning accounting but I'm definitely subscribing xD
I LIKE THIS GUY
thank you, for the entertainment and the knowledge.
You're most welcome :)
What if you use your phone for sheets and is the phone application the same as on a laptop, features and all? Although one could purchase a computer, I'd argue that your phone is essentially such in your hand and, therefore, could be used the same way; thoughts?
I guess it's possible, but personally I prefer the bigger screen and the keyboard
James, I am a little confuse with account receivable and account payable. Can you give some examples to explain it? Thanks.
This is really helpful, thanks very much. Liked and subbed. I'm gonna work my way through all of your Accounting Basics for Beginners Playlist 👍
Thanks for the sub! I hope you find the vids useful
J K Growling cracked me the fuck up
Yet another amazing Vedio thank you so much James I really appreciate this.
I'm AAT level 3 qualified and I did pass 2 exams at level 4.. and its useless; not only can I not get a job but I've learned nothing. I mean, by now I should be ready to become a self employed bookkeeper... but I don't even know what that means. Do people just bring me receipts and I put them somewhere into excel? I genuinely don't know because I can't get any real life experience, because I need experience for that. Seems like everybody thats hiring is a tory lol.
Its like me saying "ill teach you how to backflip, as long as you can backflip already"
I feel you intro... following.
Thank you , best teacher
Cheers Ahmed!
Thank you for these videos. I am no longer scared of spreadsheets. i have just added this one and going to attempt it last year. its a start. I have a lot of out goings for cost of goods resale, as a sole trader. Is this method suitable for my records?
If you're selling inventory then you may want to consider using accounting software
Thanks for the video! I am running into some issues when adding columns and rows. It won't auto calculate on the new rows and columns. I might be just dumb but do you have a video for troubleshooting this?
Sorry I don't I'm afraid. If you add / remove columns and rows then you may need to keep checking the formulas to make sure they're still working correctly
Can i ask can this be used in the same way for sole traders?
It can indeed :)
Sweet, thanks man. And thanks for replying
Great video! I hope someone can help me!
I started selling eBay some time ago, recently it has kicked off and got to point where I’m going to start it as a business!
I want my accounting to be as basic/easy as I can make it, I’m probably selling around 100 items a month!
In my book keeping do I need to list every sale, or can I just ebays monthly data!
For example April’s sales + £800
April Courier delivery fees - £50
Is there a way to integrate this with a client contact list? Like if I made a sale to a specific client, it will show on the transactions list and be linked to their customer profile? This may be very complicated but I'm just curious. I may need to use software for something this in depth. Thanks for the video!
Thanks love how you put sound fx at 08:21
got to respect the stash
hahahahaha love your videos! thanks for making this stressful process fun
Thanks Katherine!!
Simplicity & reliability .. should be the tagline for you channel... XD XD .. great stuff
Cheers mate, great to hear that you think so
Thanks for the template!
No worries, you're welcome :)