Chart of Accounts for furniture flippers and artisans explained - walkthrough of the accounts used

Описание: What is a chart of accounts, and why is it essential to your business? You need to learn how to use your chart of accounts to post your purchases and income correctly. Save yourself and your accountant a lot of grief by getting your chart of accounts set up the right way.

This video walks you through each component of the chart of accounts, explaining the sections like assets, liabilities, owner’s equity, and expenses, including the cost of goods accounts.

Bookkeeping Software for Businesses:
Sage https://sage.qumg.net/a1BeJW
Quickbooks: https://furnitureflipping101.ca/QB

Bookkeeping Software Series

One of the most challenging parts of running a business can be understanding the bookkeeping side. Bookkeeping is a critical part of business, and come tax time, you need to know your income and expenses to ensure you aren’t running into trouble with the government.

I’ve created a series of videos geared towards creators – anyone who creates a product, whether it is furniture, crafts, art, or other assembled products. Your business is unique to many others because you need to track your inventory and transfer values from the raw inventory assets to the assembled asset and then, once sold, to the correct cost of goods sold expense accounts.

If that sounds intimidating, don’t worry. You can take the Furniture Flipping 101 Program’s Business Management Course to learn all about inventory and bookkeeping, but I have also put together some explanatory videos that anyone can use.

This video series walks you through the bookkeeping steps giving you valuable advice on the bookkeeping processes you will use as a creator or furniture flipper. While taught from Sage 50 Premium Accounting, you can use Quickbooks, Zoho, Wave, Mint and almost any other free or paid bookkeeping software.

Bookkeeping Software for Businesses: Sage https://sage.qumg.net/a1BeJW

1. Debits Credits explained    • Furniture Flipping Bookkeeping Debits and ...  
2. Set Up    • Sage 50 Bookkeeping Program Software Setup  
3. Chart of Accounts    • Chart of Accounts for furniture flippers a...  
4. Suppliers & Purchases    • Furniture flippers and Artisans: How to po...  
5. Inventory and Services    • Furniture Flipper and Artisans:  How to Tr...  
6. Customers & Sales    • Furniture Flippers and Artisans: How to Re...  
7. Banking, Reconciling, and General Journal    • Furniture Flippers and Artisans: How to Re...  

Enroll

This series is part of the Furniture Flipping 101 Program’s Business Management Course modules.

To fully understand the concepts covered in these videos, you can enroll in the Business Management course or check out the other enrollment options on the FurnitureFlipping101.ca website.


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👉 Enroll https://furnitureflipping101.ca/enroll/
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Affiliate Links:

Looking for a bookkeeper to help you with your books? You can find one on Fiver here: https://furnitureflipping101.ca/FVBKYT

Need Microsoft Office 365 to help you with quotes and spreadsheets? You can subscribe to Microsoft here:
https://furnitureflipping101.ca/MO365

✋ IMPORTANT:
I base product reviews and recommendations on my furniture refinishing experience and do not receive sponsorship for this video.
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