Breaking up with bookkeeping clients is hard to do, as the song goes. Since I’ve worked with hundreds of clients, I’ve certainly 'fired' or parted ways with my share of bookkeeping clients, but it’s not all bad news. Every breakup is a valuable lesson. Today I want to share the biggest lessons I’ve learned from firing bookkeeping clients.
Are you feeling unsure about how to fill out Forms 1099-NEC and W-9? When the time of the year rolls around to prepare these forms, you might struggle to remember how exactly to go about it. In this article, I’ll explain how to fill out Forms 1099-NEC and W-9.
If you’re here, you’ve likely heard of the 5 Minute Bookkeeping blog, and maybe the 5 Minute Bookkeeping YouTube channel, too. I love interacting with our community online, and I thought that for a change, you might want to see a behind the scenes look at how I put together the videos for my YouTube channel. Read on to see what happens behind the scenes at 5 Minute Bookkeeping and how these videos come about.
Starting a bookkeeping business is fulfilling, but it’s not without challenges. A lot goes into building a bookkeeping business from the ground up, and there are sure to be some missteps. The good news is that you don’t have to make the same mistakes I did. That's why I'm sharing the biggest mistakes I’ve made in my bookkeeping business and how you can avoid them.
Are you new to virtual bookkeeping? Maybe you’re not even officially a new bookkeeper yet, but you’re seriously thinking about it. If you are starting your journey into the virtual bookkeeping field (or you’re considering it), in this article we’ll go over how to get started as a virtual bookkeeper in 7 steps.
Is not knowing how to charge for bookkeeping services holding you back? I know that for many virtual bookkeepers, the problem isn’t the technical know-how; the problem is being able to confidently price their services. In this article, I’ll share the knowledge I’ve gathered over the years on how to charge for bookkeeping services.
Many businesses are switching to virtual offices, which opens up new challenges and exciting opportunities for accountants and bookkeepers. There are a few essentials you will need to know if you are ready to successfully make the switch to working virtually. Whether you’re just starting out as a bookkeeper, or you've been bookkeeping for a long time, I want to share my insights and experience on how to work virtually with bookkeeping clients.
Taking on a massive undeposited funds cleanup in QuickBooks Online? It can be tough to know what to do when you are facing a ton of old transactions in the undeposited funds account. Here's my best tips for taking on a massive undeposited funds cleanup in QBO with confidence.
Coming across unapplied cash payment income and expenses in the Profit and Loss report during a QuickBooks Online cleanup can leave you stumped. What are these accounts for and where did they come from? How do you clean up these accounts to get rid of the balances? Keep reading, and I’ll answer these questions and tell you how to clean up unapplied cash payment income and expenses in QuickBooks Online.
What should you do if you are working on a massive QuickBooks Online cleanup and you come across a mysterious balance in the Opening Balance Equity on the balance sheet? You probably won’t recall ever adding that account to QuickBooks Online, or categorizing any transactions to/from it. So what is it, and why is it showing up on your balance sheet? Keep reading and I’ll answer those questions and discuss how to clean up Opening Balance Equity in QuickBooks Online.
QuickBooks cleanup projects can easily become overwhelming and time-consuming, especially if you’re not sure where to start. That’s why I always recommend using a cleanup checklist for successful QBO cleanups. It will help you stay on track, make sure nothing is missed, and give you confidence in the end result. Keep reading to find out more.
When you’ve got a problem in QuickBooks Online, the ‘easy fix’ is making a journal entry...right? As an accounting professional, you may have been trained to use journal entries liberally (I know I was), but in QBO there are some situations where journal entries help, and some where they can really mess up the books! The key is knowing which is which and what goes on inside QBO when you create journal entries to make corrections. I'll share my tips and best practices for using journal entries in a QBO cleanup without messing up the books.
Are you taking on a big QuickBooks Online cleanup project and not sure where to get started? I’ve been in your shoes, but after years of performing QBO cleanups, I've developed a system for organizing my cleanup projects from start to finish. I want to share my tips for taking on a massive QuickBooks Online cleanup, to help you confidently take on even the toughest projects.
Does the thought of working with PayPal transactions make you want to run and hide? PayPal bookkeeping can be very complicated, even for the most experienced virtual bookkeeper. I definitely struggled to understand the ins and outs of how it works at first. Now I want to share my experience with you. I'm going to show you the essentials of how PayPal works so you can tackle your client's PayPal transactions with more confidence in this virtual bookkeeper’s guide to understanding PayPal.
Virtual Bookkeepers can spend a lot of time trying to build up their client list. Unfortunately, it's hard to grow a business when you are underpricing your services and working overtime, just trying to earn a living. A better approach for building a successful bookkeeping business is to selectively take on clients who value what you do, and pay what your services are really worth. How do you get those kind of clients? Well, if you want high-quality clients, you need to know how to effectively communicate your value as a bookkeeper.
