Bookkeeping 101 | Bookkeeping Basics and Tips for Business Owners |
hello guys how are you thank you so much for making the time to be here with us today whether you're watching live or watching the replay we know now these are different times these are new times and more people than ever are starting businesses more people okay and I when I first decided that the last time okay because I decided many many many times that I was gonna start my business but the last official time was the end of 2011 and in 2012 I had my maybe 2012-2013 I talked to a bookkeeper which was very scary and I had her set up my my my accounts in QuickBooks and when she said that to be honest I had no idea what she was talking about I had no idea what my options were she was setting things up but I think she knew too much to be honest I think she was great but because I was such a newbie she couldn't dial it back you know like when you know you know too much of your own subject and you don't know how to talk to people that are like infants so and I did not know what to ask so I overpay on some things I never even asked my accountant what questions to ask and I know that because when I made Yolanda and this is she's gonna do herself in a minute when I met her professionally cuz I already knew her but when I met her professionally she asked me all these questions ever and I was like and then when we were shopping for accountants because III was looking for a new accountant she was so gracious to come with me and you should have seen her she was just like firing off the questions and and she's like no no hire that person okay these let me let me just find you somebody okay and she just took over which I so appreciated and then she was talking about reports all these things that I could do myself and my responsibilities that I did not know of so what I want us today to do is again let me know in the chat where you're watching from today why you're here what questions you have and we're just gonna go back and forth with you I'm gonna let her introduce herself and then we'll just ask her questions and we just go from there and then we'll go to the chat and see how we can help you so without further ado I am gonna let miss Jolanda take it over well Thank You Catherine for having me today my name is Yolanda with us I've been in finance and bookkeeping approximately a little bit over eight years and I've been in different several types of business and nonprofit and LLC's or Inc and now with you I took on the challenge and more knowledge on to put more champagne all the different types of stuff that you guys do so I took on the challenge and it was awesome and a great experience so that answers that that one right there so yeah that's awesome so we have your your information there in the chat I don't know if you can grab your quick your Facebook page what's the name of your business again bookkeeping done easy for you let me find that I knew that but I I always get it so I'm gonna invite you guys to go to her Facebook page in like it because she's doing different things there so she's got a really great articles on people that they gotten laid off this information about that about your check different grants and things she's just kind of like up-to-date with all that stuff so definitely go like her page cuz she's she's keeping she's keeping up with all the changes all the things that we qualify for that we never qualify for before like I'm learning I'm talking to so many entrepreneurs that don't never qualify for anything and now like you know where the world is going through this thing and they are things are changing so let's just go right into it let's talk about for people that are in your experience what has been the thing that you wish people knew if they're starting with their business that would save them time or money when you get their books as I know you do famous books like when you get the books first what's your thing that you're like oh yeah yeah right I think that the keeping industry was so like underground so a long time that it wasn't important and they don't realize the importance of a bookkeeper whether you're installing in business like today if we started business 20 years ago I'm hoping you started with a bookkeeper a bookkeeper and a CPA going hand-in-hand they they're like two two sets of eyebrows two sets of tires you can't change one side without the other so a bookkeeper in a CPA have a lingo of verbiage and understanding of how they can come together to maximize all of the benefits as a tax portion of it and keeping your your business organized our CPA is more in indulging and knows more about the taxes and the writers and that's more their expertise I'm not saying that they will not take on the bookkeeping part of it but the charges and fees of a book of a CPA are obviously higher and they're more expensive versus a bookkeeper a bookkeeper you want because the bookkeepers gonna hold you accountable a bookkeeper is going to say what's this what's that and it's going to ask you questions so at the end of the year you're not running around going crazy trying to figure out where's this where is that and why and what not so they they're sisters they go together and if the chemistry is perfect I think that it the sky's the limit when the bookkeeper in a CPA comes together and understand the vision and the mission of the business that is so powerful that's something that I never I never thought about but when you started helping me finding a new book keep a new accountant you were talking you so you are of the belief that the accountant and the bookkeeper should know each other even if virtually and should be familiar with the business why is that the importance of it is because you know at least for my sense I'm a very passionate person I like to see the extreme of the multiple revenues that you're coming in especially for an entrepreneur and entrepreneur is selling books is doing web is doing talks it is going here so when we go into a software system regardless of which one they're using there are there are many out there but they are are very similar in the ways of how things are being recorded the bookkeeper at a minimum cost can help you strategize can keep you within budget now it can keep you organized it keeps you in a place that if you wanted to maximize your potential of how much money you want to be your bookkeeper can understand the lingo of a CPA so there what would take a regular person without it being disrespectful a regular person that doesn't understand the accounting lingo because they have to use different strategies use different wordings it can take up to an hour where grouse is with me it can take a 10 second email for them to say hey can you give me that can you get me that and we can understand that versus and then does he be is gonna charge you you know at her price if she's kind she'll try to say you know what it was under 10-15 minutes I'm not gonna charge you but every time a CPA charges you they're gonna bill you so the analogy behind the CPA and the bookkeeper understanding the business is because I need to know what's the goal what's the mission what you know just because we don't have a physical address or we're not in one building doesn't mean that we're going to treat entrepreneurs freelancers or sole proprietors anything different things a big corporate company we need to understand what's your goal what's your vision so the bookkeeper and the CPA can't sit down and say what's the goal and how can we maximize the time efforts or maximize to savings for you so that you can make whatever figuring it is that you're looking to make so powerful I remember when you were asking me you know how many books I have and then you were asking me okay are the books set up in in QuickBooks separately and how did this book do and then I was looking at you like you were asking me for a calculus you know equation of formula and I loved what you said if you know how each book is doing then you know how much effort to put in that book you know if that book has been successful or even if it's been profitable so how how important it is for for their accounts and if you can spend what accounts are to be set up properly from the beginning so the way that is probably I'm set up from the beginning excuse me is that people go online they do a Google search which I think you call them your cousin or friend something like that you call it so they go on Google they see the cheapest version I'm gonna use QuickBooks in this way just to maximize and until you they'll see that QuickBooks is on sale they're going to do the cheapest version of it and all of that it's limited it's what they say I'm here is you pay for what you get for so when you pay for the the cheapest version of QuickBooks in this in this case you're not going to be bringing in those type of reports that you're looking at if you remember when I sat down with you we looked at the first that you had and we we slightly bumped it up a little bit on your QuickBooks just so that we can maximize the type of reports that you are able to get the higher you go in the QuickBooks fees if you want to call it you are able to create different charts of accounts which is a lingo that CPAs and bookkeepers use or you can use it by classifications of class that way if you have every every book subscription has a limit of how many chattable counts and classes that you can have together so you can you don't need separate bookkeeping software if you can classify it differently like if you're doing books I need to get another QuickBooks for your speaking engagement I don't need to get another QuickBooks for your your master classes you can have all of that within QuickBooks with the proper bookkeeper you can classify everything differently in C like like you just said earlier you're able to see what's bringing in revenue if you are able to classify everything differently as soon as you send out an invoice you have in the class section of what this is for and your any expenses that you may go that you are spending through wow you're able to classify it against that specific that specific class and you're able to see okay this book made this amount well do I want to continue or do I want to stop it or am I going to get other resources and the other love marketing tools that I can use to bump up the sales on that so yes it is important too as soon as you're able to get a QuickBooks or any type of software and a bookkeeper you know I think one of the best strategies that Kathryn and I were able to do and I'm only using her as an experience so that she can bounce back with some feedback is that you're able to sit with your Kerman CPA your CPA is not really charging you the maximum that she's charging you because she doesn't want to do the bookkeeping part so if when you bring in a bookkeeper if you don't have one the best advice that I can give is for the bookkeeper just sit with the CPA and of course yourself and be able to strategy as I say if I take these responsibilities from you can you reduce this because again you are able to build a relationship with the bookkeeper where you're able to ask questions you'll have a more of a relationship with the bookkeeper where you're able to say hey at Saturday at 2 o'clock can we talk really quick about the books and you're able to have that there will be that that accountability where the book people where a CPA to be honest they don't want to deal with this type of stuff my are I'm dealt with CPAs different types of CPAs they are knowledgeable in their areas of expertise and the last thing that any typical CPA will tell you the last thing I want to do is your wicked books they do it because they know that some people don't want to bring in a person that knows bookkeeping a lot of people use spreadsheets if I personally don't think as a business person to use the spreadsheet if it's something that you're doing now I would say contemplate on investing on bringing in a bookkeeper being honest with with the person that you're interviewing and and go with what is best a lot of people are going with these online bookkeepers and it's great if it works for them but I think I'm a I'm a relationship type of person I'm a person that likes to see I like to talk I like to understand your business so that I can maximize your revenue because at the end of the paper more you make the better we're all are in this business I love love love god I never thought of the fees that I was paying the bookkeeper versus what I was paying the accountant I remember that for years and it pains me to think about and I think she discouraged me from made it kind of difficult to hire a bookkeeper and I can see now why but I would have benefited so much if I had had someone that was doing every month for example that when you asked me about the reports I didn't even know when we number one we interview that first book accountant and we are talking about the reports and then you're alike you can pull those reports so knowing your numbers let's talk about that for a minute and again welcome everybody that's coming in if you're coming in here late we're talking about will keeping one-on-one in how to maximize those relationships when it comes to their reports and knowing your numbers we talked a little bit about and I love this part before I forget you mentioned that for every item if you have a code or you classify it well when you come a sale comes in you can allocate I love that you can allocate an expense to that specific item so at the end you know exactly what the profit is can we talk a little bit about that and definitely I work with several companies that that's - - their main goal they want to know every week what did I make how much I went and it's for this one particular company it is essential that is one thing that they want to know exactly what's going on what coming in according to that classification at the end of the day you need to know what how much you're making because if you're not being profitable then we need to figure out why you're not being profitable it's easy to say if you're not keeping track of your transactions your expenses your income it's easy to say well I I just invoiced this so and so 7,000 oh I can spend this this this and this and when you're not really looking at it and then that's when you become more of a friend than a saver and if we're in business and whether it's you know by yourself or with somebody else the end goal is to be able to be profitable to be able to expand to be able to expand and make investment in different areas that you that you are particularly wanting to and if you're not sitting at least minimum once a month with a bookkeeper then I I don't know how successful somebody can grow because at the end of the day you're you're limiting if I may say the capabilities of you grow in your business because a one-man person can't do it all you you know if I can take away the responsibilities you check in your bank account every time to see how much you have and take away from you the responsibilities of allocating all of these things versus that's going to free you up to grow your business that's gonna free you up to you know do whatever it is that any person is doing whether it's sales with which selling books whether speaking it's gonna open you up so at the at the beginning it always looks like well why why would I want to bring somebody else and if I'm so small at the end of the day it's you're bringing in somebody else but it's somebody else that is very important to your business that's going to help you understand and it's gonna help you in a sense hold you accountable do you really need to spend another 300 on a laptop that's it that's the key of a bookie but the bookkeeper becomes kind of like your wife where she's nagging at you you know why are you spending that do you really need to especially if your numbers are low if your numbers are nothing you know there's a lot of more free way of how much you can spend but if you are a beginner at this point we want to be a little bit tight so that we can squeeze as much as money as we can so that we can put it into another savings where we can grow the company and not so so much focusing on spending because when we think oh I'm my own business owner I have my own business it almost feels like now I I can spend now now I'm free to spend and we end up getting ourselves into debt and instead of making money so to make the sooner you can get a bookkeeper the sooner you can get a software system in place it is essential so powerful so powerful I remember one year I was saying that in my Facebook group one year I got together with my accountant at the end of the year even like in February of the following year and that's when I found out that I spent 19 thousand dollars in training mm-hmm that was a little too late because if if I have been keeping track and running reports and I would have known - like you said can can I afford to buy this because because the money was there I had a job at the time so my job allow me to just pay for my life and pay for my business so I mean yeah I had the money I had it my business did not have it turn so had I met with my with my bookkeeper earlier I would have known to stop because I didn't I over it and yeah the bookkeepers gonna hold you accountable because if you and I sit down and you say Jolanda I don't want to spend no more than $2,000 on ads and now I'm sitting on on the weekly basis I'm sitting in front of a computer and I'm saying wait a my name you're gonna close to your $200 on why'd you either need to you know bump up more or if we need to figure out a way to cut that cost so the bookkeeper is essential especially if you want to grow your business and in every shape of form and I said grow your business I grow I mean revenue wise because we don't want to grow our business revenue wise means which means money in your bank but we also want to grow our business to be known to be in different countries different cities different places expand it to different areas of knowledge of what you already doing so if you don't have the money in there and you're breaking even that is it worth you know being in business because if you at the end of the day you want some money in in the side corner of the bank account where you don't see it and it's just growing that's true that's so powerful so let me ask you this I had we have a mixture of people that are watching now or watching the replay and some of them are getting started others are established when do you think a business owner should engage a bookkeeper as soon as you you get established as soon as the minute that you are thinking about it I think it is important to involve a bookkeeper it is important to set up your books ahead of time so that you are not searching through things at the end of the year or in mid-year I think a bookkeeper is as soon as you register that name and you have income going out and expenses coming in I think it's essential to bring them in even if it's an agreeable amount of hours temporarily that suits the business there's business who has a bookkeeper on a daily basis there's businesses who have bookkeepers as needed or you know once a month it all depends or where your business is now and where you want to see your business because you don't want to be in business for 20 years and then bring a bit of a bookkeeper what what am I going to be doing at after 20 years at this point right now trying to incorporate all of the years that you have this long way to be able to track all versus as soon as you get in it let me put it like this I'm cheating myself out by saying this even if you sit down with a bookkeeper set your books up and and create cheat sheets and how to have you use QuickBooks the proper way as you start up and then eventually bring in the bookkeeper a once a week on and then twice a week and then as you grow but it is essential I think if you want to be able to maximize at the end of the year the time that you are investing into your tax preparation I have people who right now I'm running all over the place trying to figure out where did I put this receipt versus the bookkeeper and you or the business owner can put a system in plan well she will help you be organized and have all of these documents within the software in itself where you're not having to run around and look for these receipts at the end of the year or trying to find something so I think it is essential for how to have a bookkeeper as soon as possible powerful I'm talking about all the things that are available for business owners so I'm seeing people not being able to apply for grants because their books are non-existent or because they don't even have QuickBooks or something so why are a few reasons why people should have their books up to date but what are the benefits of having your books you know exactly where you are okay so ever if we're talking about a business who has multiple cerebral employees that's that's a no-brainer if you don't have a QuickBooks I really don't know how it's being done at the end of the year with with the CPA I don't know a night I want to stay away from that but if they're doing it Amen good great that's awesome but if you have several employees the way that right now there was a company that I had to file for their PPP loan and if based on the amount of salary that was projected from last year so we had to pull out several reports whether it's through QuickBooks or their payroll company so either one of those two if QuickBooks I'm saying again it could be any other software that is you're allocating things correctly you should be able to pull reports from the system in itself and be able to qualify that you have to submit something that is that it meets the requirement in order to apply for the loan there are people who have commented to me and tried to apply for the loan and they got rejected because they didn't make X amount of money and they're like well I know I made more than that but if you can't prove it hmm there's no way to sum any document so anything within QuickBooks or any software accounting software for the most part any reports from there it's it's it's it meets the requirement of a of the loan so if you go to a bank and you want to apply for any type of loan whether it's a business loan whatever the first thing they're going to ask you for profit a month and if you can't pull out of the port then that's what the problem begins so or starts that way you're not going to be able to get the loan versus just everything being in QuickBooks are you put out is a profit and loss then there you go that's what that's what it is so anything from a software accounting system any bank accepts it so my understanding at least well that's so powerful so looking at so you do you recommend I think you mentioned it earlier by just wanna go back real quick looking at the report so what reports should entrepreneurs with employees or no employees what reports should they be looking at on a regular basis from from their [ __ ] up wake up for their cell phone their software oh well the first one that everybody looks at is a profit and loss any everybody if you keep it simple it's anybody can read up on for the last report that is the first one that everybody looks at now like we mentioned earlier we can get into more details and more details obviously just that tells you you know exactly more than what a CPA needs to know that's more beneficial for you that is more beneficial for you to understand and what what is really bringing me money what versus what's bringing me a loss the other one the important is a balance sheet a balance sheet tells you what it's a kind of similar to a profit a lot but the balance sheet is basically right going into what what came in and what came out a balance sheet is what's used most for the most part for the CPA of a CPA were saying can I get a balance sheet and from that without getting too much into detail you know at the end of the year you have to submit everything that's in the balance sheet every if it's a bank account if it's a credit card they make anything in that last one is what you need to submit so those are the two most essential again any software accounting software is going to allow you to detail the QuickBooks or the reports that you look looking for if you're looking for a report by like we mentioned earlier by classes you don't those are more a little bit more customized if you want to see a report how much you made last month with it versus the months before my month are we in April end of April so that now if you want to see how much I made in April versus what I made it much those are also within accounting software that you can do or vice versa you can do it how much I made this year so far versus how much I made last year about approximately this time and those are all within reports that can be pulled from the software that if you don't have one in place you're going to not what you don't have that comparison unless you're really that detailed and if you're being that detailed with a spreadsheet or written by pencil then my question is how much time are you investing into growing your company yeah awesome let me ask the question because I was talking to a friend and most of my friends are intrapreneurs because that's what my life is can you bookkeeper help you with paychecks now something that I was talking to a friend and she pays herself so she gets an actual paycheck every single week and we based axis taxes are taking out of her paycheck every time so how important is that for entrepreneurs are supposed to take like an honors draw it is important because at the end of the day you are separate from your business so you are basically saying that you know it would benefit you more to pay taxes now with payroll you can do it either way you can do it for the most part through the quick through the accounting system you can set that up versus going through a papal company our payroll company where you involved I would I I kind of say they get a little bit pricey just for one person so it all depends on how much money you're making and how much you wanted to spend the reason I say it will get a little bit more pricey with any type of paper which ever you use even if it's Intuit framework they are the ones if you set it up which is me it will benefit for you to set it up where the payable company whoever it is takes care of the EFTPS is the weekly the weekly taxes that need to be the quarterly taxes and the year and taxes annual taxes like other call it so you your best interest would be that if you're going to go to that extreme of paying yourself then you might as well have whoever's doing the pay will do but to pay those taxes for you because if not if you don't have what we call a full-time bookkeeper are you going to remember or waited at either EFTPS is oh wait my quarterly are they do well you know ami so instead of you adding more stress to yourself you might as well hire a people specialist whether it's into it you know paychecks whoever it is that that's doing it and yes most bookkeepers at this point especially if they have the experience under their belt they should be able to work properly with any table company or specialist or whatever they call it even if it's with Intuit or what do you call it paychecks what's the other one PDA or something like that so whoever it is a an experienced bookkeeper should be able to know what to do with equipment when it comes to people however like I said just because we're not experts on the part of taxes I want to emphasize that bookkeepers may have some knowledge but I want to emphasize we are not experts when it comes to taxes or what are the requirements for taxes or how to keep up with taxes though that is mainly the main focus of a CPA that is why I said a bookkeeper in a CPA they're both they work they have to work together because they'll keep me posted with the new regulations that are changing every year or what not so bookkeepers are not experts but they're they can work with them and if the bookkeeper is passionate enough or is an independent bookkeeper like in my case we'll we'll do some research to make sure that we're doing the right and proper thing if somebody is working for a company then obviously that's all incorporated with the CPA and payroll specialist but I support keepers we that are independent rather we don't know a lot about the law and the law changes all the time so we we would suggest that if you are going to pay yourself through a tax paying company payable is for them to take over that role that whole area and then the bookkeeper keeps track of the payrolls by doing what we call journal entries okay wow that's so awesome I that definitely makes more sense when you suggested that you meet with the Pooh ever higher as a patent accountant because you guys really are like a dual you really work together for my business so thank you for explaining that cuz that really kind of connector for me why it was so important for you that you cannot know that I thought you wanted to like the person but now I see that is deeper than that that you really want to work for my women with my money correct correct if I may jump in it's not so much about me liking the person again you know I I want to emphasize not because of myself but because it's an in general when I speak about bookkeepers we're talking about two peoples in general if someone knows more than what they should is because they took the initiative to go to to go further educate themselves but basically we are we are in what we want to say would you we just enter information and and allocate it and whatnot but we become more familiar with the bookkeeper to specialize save money to the entrepreneur the the freelancer the subcontractor whatever it is we try to make as much as a benefit for them we we have to work with them because there are things that again laws change and we need to be in synched with them and have a great relationship with them where if I can get a 15 minute conversation for her for free why not if you don't have that relationship with them but a CPA is gonna charge you and CPA great every time they charge they touch your books they they touched your book for 15 minutes not all of them but they will submit you an invoice for an hour or half-hour so if I can be able to build a relationship with the CPA and say hey I know this this and that I know it changed is can you direct me in the right way they'll be like oh yeah Jolanda just click here and click there and you'll be able to get it done okay no price in that that's it you're not gonna get an invoice for that from the CPA they may not send you an invoice for they'll target it they'll tackle it on your invoice at the end of the year so if we can just minimize the the the communication with the CPA in the sense of how much we reach out to her then then it's if we reduce your cost we reduce your experience on that one so if you're paying $800 I'm just throwing numbers out there it allows for a CPA and now you were bringing in the bookkeeper our first question was how can I minimize your $800 but still with the quality of Jackson that get the win at the end of the year and then they'll say if you do this this this in a Jolanda I'll reduce the rate to 400 bucks but we still want to have some type of fine line there or margins if we can so that we are able to contact them throughout the year if we needed to change something or that something's not adding right my number is ain't adding right at the end of the month because there are some months when we close out the books there's there's something that I can't see and I need a second set of eyes I'm able to call the CPS aching hey can you you know jump in here take a second set of eyes and and take a look they're able to do that and if you have a relationship and you get along you'll be surprised how much free time you can get oh and if I was supposed to say that that was awesome that that was awesome and I can testify to that because when we went an interview that directed a second accountant you asked that question like almost like instead of talking to you is there somebody that knows accounting and bookkeeping that I can talk to and then if she cannot help me can I talk to you and I was paying attention and I was like wow that was such a powerful question because I knew then what you were doing you were trying to get you answers without costing me too much money and you even talked about you asked a very specific question like if I use 50 how much time do we get without me because well I know that different accountants charge different things but in your experience what's the range that at least for this area anyway every state is different but for different bookkeepers what's the range you know for people we base it on transactions it all depends on the amount of years of experience they have it all depends on what type of company you have home how complex is your books so if they listen in an out type of thing you should have between no more than twenty seven twenty eight dollars an hour and it may seem a lot but I want our job is intense like I said you know as we mentioned here it all depends how detailed you want your book your bookkeeping if you want your bookkeeping you know just simple just record dance this way you know it all depends it's hard to say how much of bookkeeper should be making because at the end of the day if how much are you going to involve your time because at the end of the day as we all hear about time is precious and time is something that you can't get back so it's that is I have to say it's a really hard question to answer to throw numbers in there in a sense of how little or how much I seen ads out there just recently well because I've seen so many people get laid off and whatnot I like to every so often jump and see and I was shocked to see how people are actually suggesting hiring bookkeeper 17 and I'm like what people are you hiring for because that seems kind of low and in my in my opinion it seems kind of low now if you're saying a a bookkeeper is fresh out of school then maybe that's okay when you have eight years plus under your belt that understands the the lingo understands some tax preparation then $17 is kind of lows so it all depends what it is that you're looking for how complex is your company the frequency of how many of the frequency of home and how many times I'm gonna have to log on and versus the CPA the CPAs can go minimum I want to say $78 if they want to be nice again they can reduce it based and it's all like it's a relationship if you're gonna just be straight business you're gonna get people $78 and higher if you have a bill that's why I'm key and I'm passionate about building relationships because with relationships you can get much further with relationships with a CPA or whoever you can say hey things ain't that easy this month you know as you can see you know if all negotiable verses you hire somebody over the online they're probably over there across the border and I'm not saying it's a bad thing but when I'm what I do want to emphasize if we're looking at prices I think that the more relationship you have the more flexibility you have and bringing the prices down if that makes any sense that was helpful and thank you for comparing for comparing I know that it's not exact but that's a good range to most power of knowing that if I spend more time with my bookkeeper I get to spend less time with my accountant and then I'm sending less money in my accountant asked for that interview that we had the second one she was excited that you knew all that stuff because she knew all she will have to do is ask for the report and everything is that honest love that because she hates book our foot box that was awesome exactly you don't book CPAs are important to know CPA and the essential of them is to help you strategize how to grow your business and how for instance if you say you want to make I don't know 150,000 and you're only making thirty right now just throwing numbers out there and you want to stick with a CPA in order to say how much taxes will I be paying if I make fifty thousand that's their major expertise you know tax write-off and things like that but your bookkeeper can help you if again if you're going to hire a bookkeeper at $17 in no disrespect by no means because I was there at one point in my life and it was a learning curve so we couldn't hike when I just start on fresh out of school I put in charge what I charge now because obviously I was just out of school I was trying to learn the industry so when you have that air you obviously they don't it's complicated so from there when you start learning the industry and you started learning the lingo is now you're able to say you know and you make the job easier when you hire the right person again the relationship asking the right questions you and you build it you're making everybody's job easier everybody involved is their job easier you can go do whatever it is that you do the CPA can do whatever it is that she does an animal business and I'm gonna be able to do what I do and add more business or or whatever it is that I do so if we're all instinct and we're all doing art a fair share and we all understand each other then guys a limit right ya know I love that I so so love that so I want to open it up in the chat I know that we have talked about so many things so many things that I get excited of all this because I I no doubt on all this stuff so if you can I know we have a really healthy mix of people that are starting people already have businesses I know hopefully you guys are taking notes because the simple fact that when you are ready and hopefully you I think des landes right that you probably are already ready for bringing revenue on a regular basis to get your stuff done to get your stuff done and talk to someone because if I hadn't engaged her I would have hired the first person and that would have been a huge mistake I hadn't I did not know what questions to ask and she saw the red flags right away great person nothing wrong with the person but the expertise was not there when we met the second person and I told her I love this when I don't have was an author she immediately she mentioned a couple terms that I knew she has clients that are authors she knows what she's talking about and she's gonna find things that I'm not doing that I should be doing so automatically I was like okay yeah this is someone that I want to work with so whatever you need to do have a consultation talk to someone see what your business is at and will let you know the and how you get you can get on the Landis calendar and talk to her just to see where you're at because it will definitely make a big difference so while we get some questions is there anything that I that I neglected to ant that I asked you that you think is important for them to know no I don't think so at least not right now okay cool awesome awesome one thing that I do want to ask you is paying paying vendors and dealing with checks that's something that I usually yeah no I don't have to send checks or anything but I do know people that do is that's something that a bookkeeper will do for input for entrepreneurs yeah and no I would say no in the sense because we don't have an official office if you are if you have a business and I am able to go to your house and print the checks and and whatnot and then yes if you are totally virtual where you are in Puerto Rico and I'm your bookkeeper because you left over there and whatever then the best bet is to pay everything to PayPal or even what is called a checks you can do each X where you email them the check but versus let's say if you're in Puerto Rico and I'm here and your bank account is important because there's no way I can print the check here and send it to whoever so that's that's the complexity challenge being virtually everybody being virtually in versus having an actual check now if you're down the street and you say hey Jolanda I need this check I'm can you come by and print it because I don't want to touch QuickBooks then yes you can do that but if you're not then everything is to be paid we are credit card automatic or pay it on on the Pay Pal account or whatnot and while I have this thought in my head I wanted to throw out there there there are softwares because we just got into the conversation of which virtually working remotely working at a distance the only way you're able to do that if you have QuickBooks Online they are I don't know if other software's offered desktop version the desktop version means that it's an office I would have to go into a specific location and that is the only computer that has the QuickBooks and I have to go in there that's hyper QuickBooks and I'm using QuickBooks because it's the one that I'm most familiar with the one that I mostly have my hands on but I'm pretty sure fresh books that's the same and I'm pretty sure any other accounting software does it but I want to say if you are looking for able people that is remotely you have to purchase the program that is on if that makes any sense yeah that totally makes sense there thank you for for sharing that I'm gonna reiterate what I wish I had known at the very beginning because I don't see any questions but I know that maybe when the replay vote goes out you guys will have questions so that's why I'm going to post in the chat you will be emailed to replay as well so if you missed the beginning I will encourage you to connect with Yolanda that is the information for her you're gonna learn more about her what she does not stop and set up your consultation with her it doesn't hurt to have the consultation okay actually again her so I was so afraid of QuickBooks because it was foreign to me and even to this day because I haven't spent time there whenever she throws the term at me I'm like okay wait I'm a baby it's talk to me like I'm a baby because I don't know and then she's able to break it down for me and explain it because I like to understand things that's just the way that I am so ask the questions like what should I be doing just it doesn't hurt to ask the question okay and eventual hey hey I'm ready to set up my my QuickBooks can you help me so I can do my part okay because right now she was not my bookkeeper last year and now we are fixing the things that should have been done properly in their questions that she cannot answer because she was not in the company she was not there before so if she had been those questions wouldn't be questions because she would have asked me right away or she would set things up right right away so for I can tell you from my own experience my taxes for 2019 would have been done already if she have been doing my books from the beginning I would have known what my numbers look like and not manually because I'm that person that because I did not know QuickBooks I was keeping track of my numbers because my bookkeeper and my accountant never even suggested that I go check how I was doing and I would have made other investing decisions had I known what my numbers look like and I'm gonna encourage you not to wait until you get your taxes done to find out how you as did that's what I did years and I would have I think there will be there would have been an urgency for me to make money earlier had I known that my last demand my job at the time was financing my life in my business so I had known that earlier I would have made changes I wouldn't I just had I would've had a urgency to make money earlier so that's my that's my own experience that's why I'm saying talk to you talk to Yolanda talked to another bookkeeper that's why this is pitch free we're not selling anything without sharing because right now people are starting businesses and I want you guys to start the business early and do it right that's what I'm doing this training is I'm asking my friends to come and share because I I don't want you to be afraid not to do it I want you to do it but do it right the first time exactly cool awesome well I don't see any questions Jolanda I have put your information please go guys and check her Facebook page and check the link to check out her stuff and if you want to I feel ready go and set up a consultation with her we will be sending you their replay tomorrow for everyone that got register for this and you feel free to reply back I will put her contact information there any final thoughts we are we I'm not claiming that the world is going through things right now this is the time right like you doing this thing yourself this is the time to go for it this is the time to you know we we like to use the term quarantine without you know set home this is the turn to get you things straight this is a time where supposedly the world is on a little stand by so this is the time to you know evaluates this is the time to you know pause and think is there anything different that I can do within my business and definitely this is one there that we need to evaluate because we don't there's a lot of us the end of the year looking for stuff that we shouldn't be when you have to write the right systems in place the right the right plans in place and and it's a perfect time it's just to say that it it's a perfect time if you don't have one to bring one in it's still it's still early enough in the year to see what can be done and again like she said you can always reach out ask me some more specific question and targeted through your specific business because you know like I said bookkeepers and QuickBooks are targeted based on the client and if I need to help you choose a bookkeeper because of the location that you're in absolutely I can definitely work with somebody who is looking for one and they need to know that you sense what questions to ask absolutely awesome well Gary guys this is the time I want to keep it at the 1 hour mark we're getting hit in there now I wanna honor your time thank you so much for making the time for you I wanna say I have wonder about all of this this was very helpful awesome definitely watch the replay if you missed it we started right on like a couple minutes after 6 o'clock I am a huge business person I love business I love monetizing your expertise Yolanda is leading by example cheese doing that and that's why I asked her will you come to my community and share what you know and it's gonna have to be hard it doesn't I promise it doesn't have to be hard you have questions people have answers that's all I'm gonna say people I said earlier in my class people are spending money people are spending big money now because people are making and people are looking for the shortcuts I heard a coach said the other day the shortcut is in hiring a coach what you don't know how to do somebody knows how to do it it's really really well data for example he I ordered a tripod for him and the picture had this thing for the cell phone but when he got it he didn't have it and I have so many of these so I went to his house because you know that's what you would do when you have older parents and I brought my my little fake a lot of face and it was not going in and I'm like okay if we shave it cuz I'm just not gonna come back I'm like okay we're gonna this is gonna work so we shaved a little the little feet that he had and he worked and he was thinking about returning it and then that means I have to return it so I was up trying to avoid that okay so I made it work and he doesn't know how to do a tripod for anything I do I'm a know all that stuff so I'm saying that he asked me because he knew I knew and it's the same way in what you are doing somebody already knows so don't reinvent the wheel if it comes to bookkeeping Yolanda's here just available check out her Facebook page there's a link for the consultation don't make more money because you don't know how or because you're afraid of the ramifications again she saved me from working with the wrong accountant for me it's not about not a bad person just a wrong accountant for me I wish that I another I brought her like she's even I didn't bring her she offered she said hey I'll come with you to the meeting and she came to two meetings with me and I saw the difference with the second account and that she found for me that she has worked with before and that was everything for me so I appreciated the fact that the way she was she showed up today it's the same way that she is in every meeting she will be asking questions she will be like no how do we call corners here why do you do that that way I have this question have this other question and she's always like so nice about like oh I'm sorry am i no no no I want you to ask me these questions like because you're not doing it is not your money you're doing it because you want me to do well so you want someone to be up in your business in a good way that's her if you want someone to just do things and not show up barely showed up then that's not her I'm telling you right now that's not her she's not gonna do it half you know what I said she's not gonna do a half-baked and not show up and charge you she's gonna be up on your business she's gonna learn your business which I really appreciate and she's gonna make suggestions okay just like I make I give you suggestions about software and things to do when he comes to me think that's the same thing so I know that you guys care about that so if I wouldn't bring here otherwise I don't bring you a lot of people and if I bring you someone it's because I believe in what they do and I know these training alone it's very powerful and it's my gift to you because I want you to do well thank you so much for coming Yolanda thank you so much for your time I know you're busy for having me my my pleasure again thank you guys for coming the replay will be sent out tomorrow along with her contact information and just do your thing okay just go out there and do your thing have a good night okay have a good night guys thank you guys you're welcome
2022-04-06 04:18
