Bookkeeping BIZ

The biggest pricing mistakes I have made in my bookkeeping business

By Veronica Wasek|2022-05-26T16:52:25+00:00May 26th, 2022|Bookkeeping BIZ|

Are you struggling with pricing your bookkeeping services? Pricing is not easy, and in fact, it can evoke a lot of negative emotions, including fear and anxiety. It was certainly one of the areas that I struggled with the most while growing my virtual bookkeeping business. Although it was tough at times, I learned so much through the process. Would you like to skip past the trial and error and get straight to the good part? Keep reading, and I'll share the biggest pricing mistakes that I have made in my bookkeeping business, and the very valuable lessons that I have learned.

My biggest lessons learned after doing hundreds of QuickBooks Online cleanups

By Veronica Wasek|2022-04-28T20:38:58+00:00April 28th, 2022|Bookkeeping BIZ, QBO Cleanup|

Are you taking on a QuickBooks Online cleanup and looking for some helpful tips? After doing hundreds of QuickBooks Online cleanup projects, I have pretty much seen it all by now. I have made my share of mistakes, but I have certainly learned a lot of valuable lessons along the way. Every cleanup has it’s own unique challenges, but there are some key factors to help set you up for success from the start. Keep reading to find out my biggest lessons learned after doing hundreds of QuickBooks Online cleanups, and see how they can help you.

My scariest QuickBooks cleanup horror stories

By Veronica Wasek|2022-03-31T16:13:58+00:00March 31st, 2022|Bookkeeping BIZ, QBO Cleanup|

After doing hundreds of of cleanups, I have seen it all. I've seen undeposited funds, uncategorized income, uncategorized expenses, unapplied income and expenses, reconciliation discrepancies, comingling. And the list goes on. Over the course of all these cleanup situations, I have come across some that defy all of our expectations for a “normal” cleanup. Today, I’m sharing my scariest QuickBooks cleanup horror stories.

The biggest lessons I’ve learned from firing bookkeeping clients

By Veronica Wasek|2022-03-03T15:23:59+00:00March 3rd, 2022|Bookkeeping BIZ|

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.

Forms 1099-NEC and W-9 explained

By Veronica Wasek|2022-02-17T20:46:28+00:00February 17th, 2022|Bookkeeping BIZ, Bookkeeping DIY, Tax tips|

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.

Behind the scenes at 5 Minute Bookkeeping

By Veronica Wasek|2022-02-03T18:32:21+00:00February 3rd, 2022|Bookkeeping BIZ|

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.

The biggest mistakes I made in my bookkeeping business

By Veronica Wasek|2022-01-07T15:16:33+00:00January 6th, 2022|Bookkeeping BIZ|

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.

How to get started as a virtual bookkeeper in 7 steps

By Veronica Wasek|2021-12-28T20:31:56+00:00December 23rd, 2021|Bookkeeping BIZ|

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.

How to charge for bookkeeping services

By Veronica Wasek|2021-12-08T23:02:13+00:00December 2nd, 2021|Bookkeeping BIZ|

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.

How to work virtually with bookkeeping clients

By Veronica Wasek|2021-11-12T15:58:50+00:00October 28th, 2021|Bookkeeping BIZ|

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.

Tips for taking on a massive Undeposited Funds cleanup in QBO

By Veronica Wasek|2021-07-29T19:04:04+00:00July 29th, 2021|Bookkeeping BIZ, QBO Cleanup|

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.

How to clean up Opening Balance Equity in QuickBooks Online

By Veronica Wasek|2021-06-01T23:11:25+00:00May 27th, 2021|Bookkeeping BIZ, QBO Cleanup|

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.

Using a cleanup checklist for successful QBO cleanups

By Veronica Wasek|2021-04-22T19:42:07+00:00April 22nd, 2021|Bookkeeping BIZ, QBO Cleanup|

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.

Using journal entries in a QBO cleanup without messing up the books

By Veronica Wasek|2021-06-01T23:00:31+00:00March 26th, 2021|Bookkeeping BIZ, QBO Cleanup, QuickBooks Online|

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.

Tips for taking on a massive QuickBooks Online cleanup

By Veronica Wasek|2021-04-22T00:41:06+00:00March 9th, 2021|Bookkeeping BIZ, QBO Cleanup, QuickBooks Online, Tips and Tricks|

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.