Bookkeeping Basics with QuickBooks Online
To get the template you will need to create a free login on our website:
www.nerdenterprises.com/
Then click here:
nerdyurl.com/bkkpg-basics
Get My Bulletproof Bookkeeping® Mastery Course with QuickBooks Online:
nerdyurl.com/BB-Course-Reg
And check out all of my courses and templates here:
www.nerdenterprises.com/cours...
Get the full write up and templates for this video here:
nerdyurl.com/bkkpg-basics
Index
0:00 Introduction
0:20 Five Account Types in any accounting system in any country
1:15 Knowing what's going on behind the forms
1:44 Your job as a bookkeeper
1:51 Debits and Credits
2:08 Sample QuickBooks company for debits and credits example
2:55 Account Types samples
3:57 When you go to school for accounting the first thing you learn is T Accounts
4:39 First thing you do when you open a business
5:00 Start of the trial balance
5:35 One thousand deposit going into the bank is a debit
5:50 Contributing money is an owner's contribution in equity
6:15 Assets and expenses increased by debits everything else is increased by credits
6:55 Go to QuickBooks Online to record a transaction
8:12 What account are the 1,000 going to in the transaction
8:44 Transaction does not affect the profit and loss only the balance sheet
9:32 Check your work, did the transaction impact the sheets the way you expect it to
10:00 Opportunity to pause the video and get caught up on following Seth's example
10:21 Second transaction takes place
11:53 Transaction 2 recorded in T Account
12:33 Record transaction 2 in QuickBooks Online
14:00 Where transaction 2 falls in Balance Sheet and Profit and Loss
15:14 Shows transaction 2 in Profit & Loss and Balance Sheet
15:36 Recording a transaction to receive payment transaction 3
17:00 View of receiving accounts receivable as cash into bank account
17:51 Shows the receive payment in T-Account
18:48 Transaction 4 recording buying a computer
19:26 Buy something it loses cash in bank account or credit card
20:28 Transaction 4 debit bank account credit computer expense
21:07 T4 Record it in T Account
22:49 Record transaction 4 in QuickBooks Online
24:48 Transaction 5 Expense, software purchase debit an expense, credit the asset
25:39 Recording T5 in T Accounts
27:05 Record T5 in QuickBooks
28:26 Adding an account you need when it's missing in QuickBooks Online
29:38 How T5 affect Profit and Loss and Balance Sheet
29:56 If you want a quick review of what was done in the video
30:57 Where to get access to the template used in the video
This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Nerd Enterprises, Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Nerd Enterprises, Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.
Пікірлер: 267
Wish I found this channel back when I was in college! Everything is was clear and easy to understand oh my goodness! Absolutely the best I’ve seen so far here on KZread! Thank you sir
@nerdenterprises
2 жыл бұрын
Thank you Kelly!
Absolutely love this video! Very informative & helps to refresh a lot I did not remember fully.
Thank you, great video for a quickbooks beginner
Thank you! Just subscribed! I have been avidly searching for a video like this that articulates the fundamentals of bookkeeping in QuickBooks without unnecessary or overly complex information. Thanks!
@nerdenterprises
3 жыл бұрын
Thank you Quinn! As with Janet above, I am not sure why I didn't see this until now.
Very informative! It encourages me pursue book keeping as my niche. Will definitely share this with my friends.
@nerdenterprises
4 жыл бұрын
Thank you!
This video rocked and you did an outstanding job. I had no clue where to start with booking or accounts and now I feel comfortable enough to start. Thanks again.
@nerdenterprises
5 жыл бұрын
Thank you!
Thank you! I love that you explain the bigger picture! That's the only way I can learn, is knowing WHY I'm doing whatever task or action. Just subscribed 👌
@nerdenterprises
4 жыл бұрын
Thank you!
Thank you for sharing this video! I really appreciate it!
@nerdenterprises
5 жыл бұрын
Thank you! You'll LOVE the course - courses.nerdenterprises.com/bulletproof
Thank you so much for this extremely detailed video!
@nerdenterprises
5 жыл бұрын
You are very welcome! Please tell others about it, or share it :)
Thank you for all of your accounting/bookkeeping videos! Very helpful and easy to understand!!
One of the best intro tutorials I've watched so far. Quite in depth with concepts, money flow and navigating the QBO user interface. Definitely helped me understand a few things that other tutorials are lacking. The spreadsheet was extremely helpful.
@almamydiaby3587
3 жыл бұрын
Where can I get the spreadsheet?
@oniichan7520
2 жыл бұрын
@@almamydiaby3587 did you get it already?
Amazing and great speed! Thank You
Great video. I understand now much more than from other people’s video. It would be great if you could continue from this video and give examples of depreciation for the computer and software. Side note: What tax line mapping would you use for internet software for 1120s?
Very Very Very Helpful, explained perfectly...Thank You!
@nerdenterprises
5 жыл бұрын
Thank you!
What an Excellent bookkeeping video! Seemingly complex topics broken down in a very easy to understand way. Well done and thank you!
@nerdenterprises
4 жыл бұрын
Thank you Marcelo!
Wooow! thank you so much! so this is bookkeeping with quickbooks online...I am a licensed bookkeeper here in our Country and I want to focused on freelancing but I am not confident because I dont have any idea about quickbooks..Thank you so much for making this easy for us... Just subscribed ...
He explains really clear and makes it easy to understand. Thanks.
@nerdenterprises
3 жыл бұрын
Thank You!
Excellent...Great Energy!
Thank you! Great video! I'm considering a career change to bookkeeping and have done a few weeks of research in regards to it. This has been the most helpful resource to date!
@nerdenterprises
3 жыл бұрын
Glad it was helpful! I have a whole course on this called, "Bulletproof Bookkeeping with QuickBooks Online!
Thank you I loved that you explain the bigger picture
This is the most helpful look at basic books that I have seen. Very well presented.
@nerdenterprises
4 жыл бұрын
Thank you Kathie!
Deeply grateful for this free video!
@nerdenterprises
5 жыл бұрын
Thank you! Check out the course in the description for more.
Very Helpful!!! Thank you for the clear explanation. Easy to follow 👌🏻
@nerdenterprises
3 жыл бұрын
Thank you!
thank you, i learned a lot.
The best video I've found about bookkeeping. You're a great teacher!
@nerdenterprises
3 жыл бұрын
Thank you so much! This means a LOT!
Very helpful, simple explanations, this was a refresher course. Thank you for making this so easy.
@nerdenterprises
4 жыл бұрын
Thank you Sandra! I have a whole course (over 13 hours of video) on this --> "Bulletproof Bookkeeping with QuickBooks Online" --> new.nerdenterprises.com/bulletproof
Thank you! I will definitely download to practice. Also will share with my family, friends, and pets!
@nerdenterprises
3 жыл бұрын
Have fun!
Enjoyed every minute! Thanksks!
Excellent! Very helpful. Thank you so much!
Thanks for this informative Video and Spreadsheet. I have a better understanding now.
Super clear steps!! Great video :)
@nerdenterprises
4 жыл бұрын
Thank you!
Barry Allen is The Flash, of course! Thanks for the video! It was extremely informative! Great review!
@nerdenterprises
5 жыл бұрын
Gold Star Nicole! And thank you!
I learned quite a bit, I am pursuing a career in the administration world, Thank you for the information and explanations
I like the way you presented the lessons. It is easy to understand. Thank you
@nerdenterprises
5 жыл бұрын
Thank you!
Dude. I've watched hundreds of bookkeeping videos by now and this is by far THE BEST one I've ever seen. You are an excellent teacher! Thank you so much for doing this!
@nerdenterprises
8 ай бұрын
Thank you so much Amber! I really appreciate that!
Thanks for your well done job sir!
loved the video , though I'm very new for this, I understood it clearly. Thank you so much. All I need to do is more practice.
Great information to learn. Thank you!!
@nerdenterprises
5 жыл бұрын
Thank you!
Was really focused on the P/L as a small business, but once transition to an accrual-basis, this video became essential. Thanks!
@nerdenterprises
Жыл бұрын
Thank you so much Jeremy. I had a client years ago who insisted she did NOT want to look at the balance sheet. Until she was audited and it was using information on the balance sheet that I was able to answer their questions and put the audit to rest quickly! After that she agreed to let me explain the balance sheet to her! Also many businesses may be "cash basis" for tax purposes, but you still need to run your business on an accrual basis. There's a video for that 😉 kzread.info/dash/bejne/lZ1kyZeKj5vVYbA.html
great info, so clearly presented!
Excellent way to teach bookkeeping and QuickBooks at the same time. Highly recommend for beginners .
@nerdenterprises
3 жыл бұрын
Thank you Fran!
very informative and well explained basics of bookkeeping , i would really appreciate if you may also show us how to record depreciation in the books with the example of buying fixed asset of computer equipment!
Thank you for the lovely video.
This video was amazing thank you 🔥🔥🔥
very helpful. Thank you!❤
thank you for your time.
Thank you, thank you, thank you! You are an answer to prayer, I have been so stressed out with not knowing how it all ties together and you explain it so well!
@nerdenterprises
Жыл бұрын
Thank you for commenting and sharing this! I am so glad you found this helpful!
Excellent video, thank you!
@nerdenterprises
5 жыл бұрын
Thank you!
Thank you, very informative!
@nerdenterprises
4 жыл бұрын
Thank you Patti!
Thanks! This is very informative and easy to follow
@nerdenterprises
2 жыл бұрын
Thank you!
Thank you!
Thank You. If it's too fast just go on settings and slow it down 0.5 etc easy. Love your work I learnt a lot
@nerdenterprises
3 жыл бұрын
Thank you!
Thank you ! Very detailed video! I'm starting to do bookkeeping and I found it very helpful!
@nerdenterprises
4 жыл бұрын
Thank you! If you liked this then you will love my full length course called, "Bulletproof Bookkeeping with QuickBooks Online" --> new.nerdenterprises.com/bulletproof
@patrickjohnson5464
4 жыл бұрын
This is glorious, I have been researching "udemy quickbooks payroll" for a while now, and I think this has helped. Have you heard people talk about - Aleacob Marvelous Ascendancy - (Have a quick look on google cant remember the place now ) ? It is a smashing exclusive product for discovering how to master quickbooks without the headache. Ive heard some incredible things about it and my cousin got great success with it.# Fatima Teixeira
@danielatomescu3487
4 жыл бұрын
Just wonderful, I been tryin to find out about "learn quickbooks for free online" for a while now, and I think this has helped. Have you heard people talk about - Aleacob Marvelous Ascendancy - (should be on google have a look ) ? It is an awesome one off guide for discovering how to master quickbooks without the headache. Ive heard some amazing things about it and my mate got cool success with it.
Wow very informative and just subscribed
Amazing video. I am in the process of thinking about changing my career and thinking about bookkeeping. Thanks for all the insight! ❤
@nerdenterprises
Жыл бұрын
Thank you Greg! I Am so glad this was helpful!
Very useful video, thank you!
@nerdenterprises
5 жыл бұрын
Thank you!
thank you, very informative :)
Thank you so much sir!
Very informative video n great teacher.. thank u so much ...
Thank you for the extra practice 😁👍
Great video. Thank you.
@nerdenterprises
5 жыл бұрын
Thanks for commenting! I am glad you liked it!
great video, thank you!
@nerdenterprises
5 жыл бұрын
Thank you!
Course was simple to understand
This is the best tutorial l have ever followed. You are very articulate, your explanations are very simple to follow and l truly appreciate this. God bless you
@nerdenterprises
2 жыл бұрын
Thank you so much Geeta!
Love this. Great video
@nerdenterprises
4 жыл бұрын
Thank you!
It's very easy to understand. Thank you.
@nerdenterprises
3 жыл бұрын
Glad it was helpful!
God bless you Seth for sharing knowledge! Amazing video 👏
@nerdenterprises
Жыл бұрын
Thank you!
Timeless Learning.Thank You.
@nerdenterprises
Жыл бұрын
Thank you Peter!
Thanks for the video. My dad is a CPA and he usually does my business bookkeeping but he has cancer so I am learning how to do it on my own now.
@nerdenterprises
3 жыл бұрын
I'm so sorry to hear that Andrew! Please let me know if I can help with anything!
Very helpful 👍 thanks
Thank you. I'm new using QB and this was very helpful.
Thank you this was excellent presentation.
@nerdenterprises
2 жыл бұрын
Thank you!
Thank you for the great video!! I appreciate the behind the scenes view into what is going on in QBO!! Your explanations were very clear, and for me your humor was a welcome touch
@nerdenterprises
3 жыл бұрын
Thank you Janet! Sorry I didn't see this sooner!
Very clear and awesome
@nerdenterprises
2 жыл бұрын
Thank you so much!
Excellent tutorial👍👏
@nerdenterprises
4 жыл бұрын
Thank you. If you liked this you're going to love the course!
Barry Allen is the Flash, and this video helped me so much in understand the basics here and I appreciate this so much! Thank you!
@nerdenterprises
4 жыл бұрын
Thanks Spencer! So glad you found this helpful! What else are you going to do when you have to stay home all day, but watch bookkepeing videos 🙂
Wow....great work....
@nerdenterprises
4 жыл бұрын
Thank you!
VERY INFORMATIVE. THANK YOU
@nerdenterprises
3 жыл бұрын
Glad it was helpful!
Excellent presentation
@nerdenterprises
2 жыл бұрын
Thanks AC!
I love Barry Allen.. and you too for making this awesome video! Gracias!
@nerdenterprises
4 жыл бұрын
Thank you!
Thank You
Thank you
Thank you so much for this video. It good reminder for me, as I finished college 7 years ago and didn't use my knowledge for a wile. I've got question as well. What version QuickBook to use for learning purpose for bookkeeping? It is enough Simple Star or better need Essentials?
Great teacher Thanks .
@nerdenterprises
3 жыл бұрын
Thank you!
Even 3 years last this was the most informative video
@phindiletsepetsi320
2 жыл бұрын
Later
thank you great explination i like it
@nerdenterprises
4 жыл бұрын
Thank you!
Terrific basic overview. Love your comic book references!! (DC, not Marvel).
you are great. Thank you
@nerdenterprises
3 жыл бұрын
Why thank you very much!
Awesome vid Just subbed
@nerdenterprises
5 жыл бұрын
Thank you!
Great concepts for someone who has used Quickbooks quite a lot but still finds Debits and Credits a mystery.
Informative, I want to learn more about quick books online
@nerdenterprises
3 жыл бұрын
Thanks! I have a whole course on the subject called, "Bulletproof Bookkeeping with QuickBooks Online.
Great video. It helped a lot. Do you have a follow up for next steps after this particular video?
@nerdenterprises
Жыл бұрын
Hi Holly! If you want a GREAT free resource, here's a link to a list of my KZread videos that I've organized like a course in Notion to make it easy to go through sequentially or use as a reference library: nerdyurl.com/Bulletproof-Playlist
you are amazing!
@nerdenterprises
5 жыл бұрын
Why thank you!!!
@simranjeetsingh3243
5 жыл бұрын
i really liked the template that you shared and the way you covered the basics, such a valuable video, thanks a ton again :)
@nerdenterprises
5 жыл бұрын
Thanks! I really wanted to create an updated version of one of my most popular videos on KZread, so this one focuses on QuickBooks Online of course, and I tried to go nice and slow on the bookkeeping basics parts. That was the biggest criticism on the original video.
How do I download the blank company template to follow along?
how do you get quickbooks payroll to come up on your register
Barry Allen is the Flash; Clark Kent is Superman; Oliver Queen is Green Arrow; Diana Prince is Wonder Woman; Tony Stark is Iron Man and Victor Stone is Cyborg - love that you used super heroes (mainly DC) as the customers! Thank you for the great tutorial!
@nerdenterprises
4 жыл бұрын
Thank you! Now you know what I like to do in my spare time 😉. I love Marvel and DC. Never understood the rivalry!
@Janet-zh9rn
4 жыл бұрын
@@nerdenterprises 😊 I never understood the rivalry either. I love both too!
thank you sir
@nerdenterprises
2 жыл бұрын
You're welcome! You can get a 6 part mini series for free by opting in on my site ==> new.nerdenterprises.com
Hi thanks for the video & the template!! I have a few questions Will this knowledge be useful for regular quickbook software? Also if a company purchases stock how would the transaction be recorded as an asset or equity? I think I know the answer? Debit bank account (asset) And Credit Stocks ( asset)? Is that right? Because equity are your assets -liabilities How would an equities transaction be recorded?
@cremebrulleep2269
5 жыл бұрын
debit common/preffered stock & credit cash
hello sir nerd where can i get the docs t accounts ?
I really like the way you explain things . Curious if your course is in Canadian pricing or American?
@nerdenterprises
4 жыл бұрын
Thanks! I am based in the USA, so prices are in US $.