5 Biggest Bookkeeping Challenges (and How to Solve Them Like a Pro!)

Рет қаралды 3,005

Күн бұрын

Пікірлер: 45

@ericbrandell7249 Ай бұрын

Zach!! I happened across your channel back in June. I thought about it for a while and decided to start a side bookkeeping business. Got my first client this week! Thanks for inspiring me, and I wish you all the best.

@BookkeepingExpert Ай бұрын

Congratulations!! Keep working hard

@kathypatterson9906 Ай бұрын

I love that you give the reality of bookkeeping. Real life situations. I always learn from you. Many thanks.

@BookkeepingExpert Ай бұрын

Thanks for watching!

@The_Red_Pill__ 4 күн бұрын

Hi Zach, I have watched a ton of your videos since I found you a about a week ago. What I haven't found is any detail in setting up the clients books. I know you have covered some basics (importance of chart of accounts, etc.), but if you have a video that covers set up, can you point me to it? If you don't have one, will you consider making one? Specifically, I'd like to know how you customize your COA for the client? Do you interview them? Do you have a questionnaire? What do you do about assets? Do you set up the assets they already have with accumulated depreciation? Or do you only record assets they purchase once you start doing their books and refer them to an accountant to do the asset register and record it in QB? Do you record any depreciation? What about for businesses that are accrual basis? Do you record prepaid expenses (for insurance) and expense it off monthly or at year end? Sorry for all the questions; I'm a detail person. lol

@LewStone-u9g 2 күн бұрын

Really enjoying your podcast. Trying to figure out how to start bookkeeping online business. How do I focus in marketing on doing categorizing, reconciliation, and reports, as you suggest. And not do payroll inventory, taxes? Do I put in my various social media profiles that that’s what I wanna do and a reason why I only wanna do that? Can you give me any advice? Thank you and keep up the good work. I appreciate it.

@mrmarty1403 6 күн бұрын

Great channel! We have a landscaping company and I've been using QB Desktop since the 90's. Everybody is telling me to switch to QB Online but I'm hesitant to change seeing that I can do Desktop with my eyes closed....plus I'm a dinosaur (been in business over 30 years). I'll follow your channel and see if I can come around to the 21st century.

@LewStone-u9g 2 күн бұрын

@heatherrantz2899 28 күн бұрын

Hi. Thank you, great video. Can you share what you think the best way fur clients to send you receipts etc?

@jennyturner5849 Ай бұрын

Fantastic content Zach! Thanks tons! I have been considering A/P work but perhaps not. Maybe I need to concentrate on the three main tasks.

@BookkeepingExpert Ай бұрын

I do A/P for a few clients, but I definitely charge extra for it!

@donnapalomino6071 Ай бұрын

I love your teaching. I am so thankful for these videos. It will help me to get started with a bookkeeping business when I’m ready. Thanks!!!!

@BookkeepingExpert Ай бұрын

Thanks for watching!

@dnwanja 15 күн бұрын

So good!

@briancooper314 Ай бұрын

Great video as always! Do you create & send invoices or mark invoices paid? Are you entering payments and deposits? Do you enter any manual checks or vendor bills? Appreciate your input!

@BookkeepingExpert Ай бұрын

I try to minimize any manual entry. Most of the bookkeeping that I do is from the bank feed. managing A/R and A/P is an additional fee.

@wademccaugherty6370 Ай бұрын

This is great information, thank you for sharing!

@BookkeepingExpert Ай бұрын

I’m happy to help!

@psm0815 Ай бұрын

Zach, very informative video, could you clarify how you price bookkeeping services for real Estate investors? Do you charge $3 a transaction for their main business transactions and $4 a transaction for anything property or class specific? Or $4 for all transactions across the board if they use classes?

@BookkeepingExpert Ай бұрын

$4 for everything if they want class tracking

@brendonlasalle8685 15 күн бұрын

I have a question in regards to bookkeeping and utilizing QuickBooks etc... Do you think it would be possible to train and higher for example my fiance who's Filipina to be able to utilize QuickBooks and learn how to do this job (without English being her first language but plenty fluent still) to be able to perform this job professionally and accurately and even potentially passing on the knowledge of the process herself eventually ?? Is it viable to hire employees at an hourly rate in this way would you say ?? Thankss!

@brynnmatthews1730 Ай бұрын

This was really valuable. I struggled so much with scope creeps, lol! Boundaries are such an important part of being a business owner. Thanks for another gem of a video.

@BookkeepingExpert Ай бұрын

Glad it was helpful!

@wbspangie Ай бұрын

Thank you for all the valuable information. Just curious is there any industry that you avoid or is challenging. I have worked for a shop owner and find it was hard because of the inventory management.

@BookkeepingExpert Ай бұрын

No, I work with a wide variety of industries.

@treader1980 25 күн бұрын

I hope this message finds you well. My name is Youness Nasih, and I’m from Morocco. I am interested in working remotely as a bookkeeper for U.S. clients. Is this possible? Additionally, do you have any tips on how to get started?

@codywatt7775 Ай бұрын

Zach thanks for giving us perspective. This is probably the most usefull video I have seen to help someone get started! Also giving us an outline on your FB group is what made me come watch it. Great workflow.

@BookkeepingExpert Ай бұрын

Glad it was helpful!

@ryankelly3953 Ай бұрын

Love your stuff, but I need to ask a question. You say you do three (3) things: 1. Categorize transactions, 2. Reconcile accounts, 3. Categorize your transactions Is this supposed to be a funny way of saying that categorizing transactions is so important that it warrants holding two (2) spots? Or did you accidently repeat it and forgot to mention the actual third thing that you do? Or am I really missing something?

@BookkeepingExpert Ай бұрын

3) Generate financial reports

@Happiness379 Ай бұрын

Hi, Zach! When you said 20 hours per week to make $50k per year, does this include managing/answering emails, phone calls, etc.?

@BookkeepingExpert Ай бұрын

Yes! You can make $50,000 per year and only work 20 hours per week if you structure your business correctly

@bbsejhjhseuhnsukhfdk Ай бұрын

Hey Zach, I loved the A/P, A/R section of your video. I understand that you charge $5 per A/P and 10/ per A/R for the full cycle. How do you come up with the amount to charge, is that an average as well?

@BookkeepingExpert Ай бұрын

Yes, just average the number of transactions per month

@heathersheaven7933 9 күн бұрын

You said that you don't do payroll and tax. I can't imagine bookkeeping service without those.

@sasha.elaine Ай бұрын

What if they have a 3rd party merchant account do you pull the reports

@BookkeepingExpert Ай бұрын

No, I don't usually look at those, although they can be difficult to work with

@chairwithoutwheels9148 Ай бұрын

Hey Zach, first of all, please you gotta start pronouncing it "neesh instead of "nitch" 😅 also, this has been one of the more insightful videos I've seen from you since I started watching you. In most of your videos you usually say the same stuff but i heard a lot of new info in this one. You should definitely start taking more time inbetween videos if it means better quality of info, like in this one. Thanks for the great content 👍👍

@BookkeepingExpert Ай бұрын

Thanks for watching!

@trollmr7378 Ай бұрын

Hello. I see a lot of hate towards quickbooks online. What do you think about it? I can't understand the gigantic amount of hate towards it. It doesn't seem bad. Also based on your videos you only use it.

@BookkeepingExpert Ай бұрын

I love QBO