Bookkeeping Basics for Small Business Owners (free template!)

👉 Start using Melio for FREE at go.melio.com/gillian
👉 You can download the Google Sheets template I'm using in this video here (for free!): gillianperkins.com/ssbs/
Are you struggling to maintain your bookkeeping as a small business owner? In this video, you'll discover essential bookkeeping basics in my free simple guide. I'll walk you through how to efficiently manage your finances and gain valuable insights into your business's financial health.
0:00 Intro
1:39 Transactions
3:27 Income Statement
3:59 Pay Independent Contractors
7:31 Profit/Loss
// WHAT TO WATCH NEXT
🔹 Make Money Selling DIGITAL PRODUCTS [Getting Started Guide] • Make Money Selling DIG...
🔹 Personal Branding Secrets of a Million-Follower Brand • Personal Branding Secr...
🔹 How I Run My $500,000 Brand in Just 20 Hrs/Week • How I Run My $500,000 ...
🔹 7 Tools that Make Content Creation FASTER & EASIER • 7 Tools that Make Cont...
🔹 Don't try to "launch" a course until you watch this. 😬 • Don't try to "launch" ...
// LINKS
Learn more about Gillian and find resources to build your online business:
www.gillianperkins.com
Follow Gillian on Instagram to get a BTS look at what it's like to be a digital entrepreneur: / gillianzperkins
// FILMING EQUIPMENT
Main camera: amzn.to/3rhibrl
Clip-on lav mic: amzn.to/46DwN4n
Tripod: amzn.to/2w7sIJ6
Main light: amzn.to/3HHHhFX
Other lights: amzn.to/2OKhzEv
RBG light strip: amzn.to/3WmuPiR
NOTE: This description may contain affiliate links to products we enjoy using ourselves. Should you choose to use these links, this channel may earn affiliate commissions at no additional cost to you. We appreciate your support!

[@gillianzperkins]

Here's the link to download the spreadsheet for free ❤ gillianperkins.com/ssbs/ and the link to give Melio a try: go.melio.com/gillian. Hope you find these resources helpful!

[@Roberto4ever]

Nice Excel sample!

[@xi500]

i keep subscibing with two different emails and i never got the spreadsheet. can you help me get it

[@louiseyvette2261]

You always give so much value, Gillian

[@RafatMarufDM]

Thank you so much Gillian for keeping this video precise to the point and also giving us a freebie template. I've just recently discovered your channel, and as a Digital Marketer myself who is more on the SEO side than SMM, I am learning a lot from you. You're an excellent mentor. Take Care Rafat

[@mademesmile0950]

Thank you so much for this video. It was very helpful.

[@cornelyaekberg9107]

Thank you! So valuable!!🥰

[@accountsbalance]

Thank you for the free template! You make bookkeeping easier to follow and understand. I agree that new business owners should be hands on with their books to really understand and keep of their finances.

[@gillianzperkins]

So glad it was helpful!

[@JointerMark]

Thank you Gillian. I made my first sale the other day and have been thinking of a way to keep track of my business transactions. Thank you for the template.

[@gillianzperkins]

congrats on your first sale!! Glad this came at the right time!

[@JointerMark]

@@gillianzperkins I used the link you provided but it doesn't seem to actually provide the template. Once I get your response email I am not able to open the sheet? I must not be doing it properly?

[@CreationsByShubha]

You are a life saver !!! 😘 Thank you !!

[@thyalyssatran]

Love how concise and straight to the point this video was!! Thank you SO much

[@gillianzperkins]

Thank you! ❤️

[@lindseyloo6619]

Thank you so much❤

[@wonderfulwinnie]

Love your video !

[@andredobbs5390]

Love this!

[@Hidetannerslife]

Thank you for those video. Perfect timing 😊

[@gillianzperkins]

Ah, love it when that happens! Thanks for letting me know!

[@overbeefineart2974]

Thank you so much! I started a custom cookie business this year and this is perfect for my bookkeeping.

[@gillianzperkins]

Glad it was helpful! And congrats on your new business!

[@awriterscorner1986]

Gillian, could you make a video on tax preparation/expectations for small businesses? As well as ways in which small businesses can earn their keep rather than lose it all to the IRS? Many youtubers don't talk about this aspect, and I'm curious about what to expect once my business picks up. (Plus, I just watched a video on the new IRS $600 rule that is to affect the 2023 tax year.) Thanks!

[@davidthescottishvegan]

Another awesome video and excellent software tools Gillian. Love 🥰 the video and love 💞 Gillian.

[@gillianzperkins]

Thanks so much! Glad you like it!

[@desTINAsyonPH]

I'm literally, watching every video and listening to free podcast as I start my business about work opportunities for mothers. I know that I'm in the right place knowing that you are a fellow Christian. :) Thanks for this Gillian and may God bless you more. 🙏

[@gillianzperkins]

So glad you're here, Tina! ❤️

[@LEARN_WORLD7280]

Thank you for sharing your valuable information ;it's really helpful

[@gillianzperkins]

Glad it was helpful!

[@horse_chick]

Thank you so much!

[@gillianzperkins]

You're welcome! Thanks for being here!

[@frang8750]

Surprised you have no volume column. my daughter has tons of plants, just noticed your really going green. Thank you!

[@walleyehunter888]

Thank you so much for the template but for some reason I can not select a category as it does not want to open.

[@brandonweir7082]

Hi thank you for this it really helps. I just want to ask though, when I add my own categories in the Transactions section, how do I get them to appear on the Income Statement? Thank you.

[@Learning_to_Excel]

Great video Gillian! Particularly like the Profit/Loss instructional segment. We provide Microsoft Excel Tutorial videos that help improves peoples' efficiency and professionalism across the board!

[@brendatomlinson]

Great, simple, straightforward presentation. You’re a great communicator. I’m so glad I found you. QUICK QUESTION! Can you enter mileage on this sheet? I’m guessing I’d have to add a formula to calculate cost per mile? Appreciate your input.

[@gillianzperkins]

You could definitely add that! Great idea!

[@brendatomlinson]

@@gillianzperkins Too bad I don’t know how! 🤣 But yeah, good idea.

[@scotttovey]

Thanks Gillian. That may be an easy web app.

[@gillianzperkins]

It is!

[@AudreyGlover-to9zo]

I received you program but my categories transaction and income statement are not talking with each other. There is nothing that comes up on the drop down box. Thank you for your help

[@shaunherring8609]

I’m in construction. I need to track specific jobs profit/loss. Some expenses are split between different jobs. Example; materials purchased in bulk but utilized for different jobs. Can I use your spreadsheet to use in my situation?

[@Harrietswan]

Downloaded mine, thank you. Just one question - can I change the $ to the £ sign instead?

[@gillianzperkins]

Yes, definitely!

[@TiaCSmith-cb4ot]

i did not get the template. when will it be sent? or is it something else we have to do to get it.

[@AvinashSingh-vj3rk]

Nice video ❤

[@gillianzperkins]

Glad you liked it!

[@yeseniaherrera7763]

Thank you for the video! very helpful. As a general contractor I buy a lot of material every other day. Anywhere from paint, drywall, lumber and so on.. ect.. How would you recommend track this in the "transactions" tab it would take hours to track all material I buy on a daily basis. PLEASE HELP!!!

[@amaaan9847]

Aggregate them into single transaction.

[@henrybraun4688]

Thank you for the video. Great information. Just one question. I received the google sheets document and I downloaded the excel version from it but there seems to be a problem with the transactions section. The categories for income and expense don't show up. The other two pages are fine. The google document works fine, but not the excel version. I don't know if anyone else is experiencing this issue? Any suggestions? Thanks.

[@gillianzperkins]

Hi Henry, please email [e-mail] for an excel version. Sorry about that!

[@SpringfieldLARealtor]

This form is being shared with google and then they store all your private financial information. Do you have a form that is not shared with google?

[@whitney7112]

how would you categorize materials for something like a carpentry job in this spreadsheet?

[@amaaan9847]

Hi, Hope you are doing well. For the materials that are directly attributable to that specific job would be characterized as Cost of Goods Sold (COGS).

[@pandakat915]

I thought that the vendor was also required to log when making purchases?

[@nannysclan]

You didn't actually cover all the steps required to change an Expense Category Name. That would be helpful. There are several options that pop up after changing the text to complete the action so all the money gets tabulated and carried over to the Income Statement. Would you please do another video with all the steps required?

[@HeatherJoFlores]

I dont understand how this works for a monthly statement? do we make a new sheet for every month?

[@gillianzperkins]

Yep, you can do that and just name the new tab with the name of the month. :)

[@Pennylover2020]

I inputed my email and I did not receive a link to your template. bummer

[@theredkingvlog2]

Not funny :)

[@autumncameron8798]

Unable to open document 🫤