How can you make cash deposits to Relay?

Are you going to use any of these last-minute tax deductions? Let me know in the comments below.

Hi Jamie, Thank you for your time and effort with putting this together. Is it possible to use your template for a UK business (Pounds Sterling) or are your formulas fixed for US Dollars?

Can you find out about the Grasshopper bank?

I open an LLC on 09/12/2024 when I have to file the 2553, and last question on March 15, 2025 I have to file on a Schedule C or can use an 1120S?

this video is virtual gold. Thank you

Thank you very much for the video. I had a question. My wife and I both have w-2 jobs, but I also have a small business and I'm trying to make an estimate tax payment for my business (sole proprietorship LLC). If what I'm seeing in your video is correct, I need to enter my social and my wife's social instead my business EIN. Is that correct? And can I use my business credit card to make the payment?

Thank you, Jamie. I think I'm sold on Xero. I also see it's one of Kajabi's preferred integrations, which is where most of our revenue comes from along with checks from playing live music. Xero seems to handle all of this seamlessy. I'll use your link!

Question regarding expenses vs revenue. I'm starting an amazon business, how do I know what ive spent vs what comes in when I'm constantly spending on merchandise, but only being paid every 2 weeks from amazon? How do I know how much of what im being paid is connected to what ive put out when deciding % for each bucket?

If im selling on amazon which would you prefer? Also, as an accountant how do decide what % to apply to things like paying yourself, taxes, and other things

Do you know if there is any way to see sales totals per service since the CoA can't be edited?

P& L, profit loss.

1. can i add my personal accounts to relay and not have them report to my business? 2. is it possible to add item images to your invoices? Thanks for the videos on relay!

This is amazing, thank you! Quick question: do you need a separate transaction page for each month? Or do you put everything for the year under one? I’ve heard of “closing the books” every month and not sure what that means

Which of these two systems are you going to try?

The only follow up question I have is the ease of switching. I have QB online because the bookkeeper I worked with in the past (when I had a different and larger company) loved it and she used it. In my current starting business, I'm still too small and I'm price sensitive at this time. I'd love to switch from QBOnline to Xero but I'm intimidated by the prospect of switching. Would love to see you cover that maybe in a future vid please. Thank you for always providing such great info! Much appreciated.

Thanks so much for this tutorial!

Love this! Quickbooks Pro is getting so-o-o expensive! I haven't switched to Quickbooks Online because I don't get printing checks. I print a lot of checks!

This was great! Very informative! I was literally researching alternatives this morning. I am currently using QB Desktop and wanted to switch to something online but wanted something cheaper than QB. You saved me a bunch of time and research.

Very nice video! I will definitely check out both of these. I think the reason there are not many companies competing with QB is that Intuit has pursued a system of buying out the competition and shutting them down.

Great video! I am looking to move away from Quickbooks right now actually so this came at the perfect time!

❤

Thanks for the banking recommendation. I'm off an running to research Relay. I"m intrigued with the 5 accounts strategy as well.

Where's the rest of the video? I only see 36 seconds

What best for a small ebay store? Solo?

What about agricultural-related income?

This video was super helpful! Thank you

Relay is lying. They are not free. Plus they discriminate against minorities

So deny any suspicious salary opportunities

Hello Jamie, I am using Gusto but am interested in roll for when I hire my kids. The question is, can I have two different payroll companies at the same time? Thank you!

we need to implement the third system for next year. Planning on using a similar system called Profit First..

Jamie, Thank you for the information, very well done... I'm still trying to figure out which online version is right for my business... I'm a General Contractor, currently one person, and semi-retired... I have been using desktop pro, and have 2024 installed, but refuse to be held up for 1K a year for the updates... I'm thinking simple start? Would my existing desktop pro convert to that one ok?? Please advise

Looks like receipt capture is back as a feature. At least that's what the website claims.

Which of these financial systems do you need to put in place for 2025?

I LOV how you were so step by step showing how to set this up... This will be my weekend project before the end of the year. I have majorly downsized my business and do send some Invoices to some fleet accounts. [less than 500 in a year]. Do you have or can I find a way to add invoices that can be added into this excel or sheets for my sales? I was for 30 years QB desktop and the price has NOW driven me away from QB completely.

1) This video is exactly what I was searching for, so thank you so much for taking the time to put this together! 2) If we want to take this a step further and have a YTD column but also month columns summed does that make the formula too complicated? So instead of just looking for something that is marked “205 Wages” it also checks the date of the transaction to return everything in like the month of August or something? Apologies if that’s too nuanced I’ve just been reading on how to make other MONTH or certain formulas function. I’m just wondering if there is a relatively simple way to alter the formula you step through only be the month. Or do you just have to alter the range it looks at to just be your August transactions and then remember to update it if any additional August transactions got added. Hope that makes sense. Thank you for all your content!!

I just applied for relay banking due to one of your other videos.

thank for the guides it really help alots

Great video! This was great for me. I've just started a consulting business and only need the basics for now. I followed along and built it in Excel. Do you recommend creating a new one for each year? Or could I just make another column in the Chart of Accounts page for each year? Is there a way to adjust the formula to identify the date where it will put the transaction in the correct year column?

We use QBO. Mainly because, well… we started everything else with QBO like invoicing and accounting.

I wanna be a sole proprietor, do i need a business license and sales tax permit AND business bank account too, in order to start my online store on Shopify?

Not that easy in Texas.

Which payroll software sounds the best to you? Let me know in the comments below.

Quickbook is a WASTE OF MONEY ! worst software we ever used in 17 years in business . We had sage 50 on a PC ... 2000% better than this. Doesn’t calculate overdue interest. Complicated method to issue a credit to a client ( they tell you to delete the invoice LOL , and what about the GST I already paid ?? ) The poor quality web interface can't let you scroll your client invoices one by one on screen, *=( yes you read that right LOL. You need to open and close them one by one) Searching for any help is impossible with their online robot that seems to show you a random solution to a very clearly written question. They seem to rely on other users to help each other in the community. Clients have asked ( on their community) to have automatic interest calculation since 2019 ! We are at the end of 2024 .. if this is not a definite sign of bad faith on their part , I wonder what they are doing with our subscription money to make it into a real accounting system worthy or 2024 ? Ho and BTW, apparently only the American version does automatic calculation. since our unfortunate switch from Sage 50 Looking for opirion about Why you should not swicth to Quickbook ? Have a good look in the Redit link below . Real users with real issues that never gets fixed , and absolutely ZERO update for 600$ a year! www.reddit.com/.../why_is_quickbooks_so_hated/...

Quickbook is a WASTE OF MONEY ! worst software we ever used in 17 years in business . We had sage 50 on a PC ... 2000% better than this. Doesn’t calculate overdue interest. Complicated method to issue a credit to a client ( they tell you to delete the invoice LOL , and what about the GST I already paid ?? ) The poor quality web interface can't let you scroll your client invoices one by one on screen, *=( yes you read that right LOL. You need to open and close them one by one) Searching for any help is impossible with their online robot that seems to show you a random solution to a very clearly written question. They seem to rely on other users to help each other in the community. Clients have asked ( on their community) to have automatic interest calculation since 2019 ! We are at the end of 2024 .. if this is not a definite sign of bad faith on their part , I wonder what they are doing with our subscription money to make it into a real accounting system worthy or 2024 ? Ho and BTW, apparently only the American version does automatic calculation. since our unfortunate switch from Sage 50 Looking for opirion about Why you should not swicth to Quickbook ? Have a good look in the Redit link below . Real users with real issues that never gets fixed , and absolutely ZERO update for 600$ a year! www.reddit.com/.../why_is_quickbooks_so_hated/...

I have six companies in Quickbooks Desktop. There's no way I can afford QBO for all of those.

Thx!☺️

I followed this click for click more than 3 times and my SUMIF isn't adding. My formula looks exactly like yours, but it isn't working!

Have you tried OnPay for yourself? Let me know in the comments below.

Hi Jaime I know I seen a video of you talking about Novo banking. I was wondering if you can do a video about how to connect your novo business account to a Venmo business account. I have my personal Venmo and added a business account to mine but I don’t want to mingle mine help please