Introduction to Bookkeeping for Small Business Owners
1h 38mGeneral2022-12-07
Authors
Madecraft
Full-Service Learning Content Company
Candy Messer
Profitability and Growth Advisor, Author, Speaker
Course details
When starting a business, you may not know what is required to account for your financial transactions—if you must register for a sales tax permit, how to process 1099s, and more. It can be an overwhelming task to set up your bookkeeping file if you’re unsure of the terms and the process for recording your company’s activity. In this course, profitability and growth advisor Candy Messer explains definitions for terms commonly used in accounting, and shows you how to post different types of transactions. Candy also reviews guidelines regarding 1099 reporting and sales tax compliance. Learn how to set up your bookkeeping file and the process to enter your business activity accurately, and get tips on how to organize your documentation for tax preparation and making required estimated tax payments. Join Candy in this course to gain the peace of mind and confidence to make more informed business decisions.
Skills covered
Accounting SkillsFinance and AccountingOne-Off
Concepts
0. Introduction
- 01 - How to excel at bookkeeping
1. Terms Overview
- 02 - Chart of accounts
- 03 - Defining reconciling
- 04 - Understanding income statements
- 05 - Optimizing balance sheets
- 06 - General ledgers
- 07 - Monitoring cash flow
- 08 - Revenue versus profit
- 09 - Liabilities and expenses
2. Bookkeeping Basics
- 10 - Business versus personal funds
- 11 - Tracking business transactions
- 12 - Setting up loans and assets
- 13 - Recording transfers
- 14 - Depreciation and amortization
- 15 - Using journal entries
- 16 - Cash and accrual reporting
- 17 - Customer prepayments
- 18 - Defining class tracking
- 19 - Defining job costing
- 20 - Monitoring bartering services
3. 1099 Reporting
- 21 - Contractors versus employees
- 22 - Mapping 1099 accounts
- 23 - W9 and 1099 forms
- 24 - Issuing a 1099
- 25 - 1099 due dates
- 26 - Correcting 1099 mistakes
4. Tax Preparation
- 27 - Organizing documents
- 28 - Estimated tax payments
- 29 - Tax preparation reports
Conclusion
- 30 - Maintaining compliance