How To/The Basics Of Bookkeeping for Entrepreneurs ✅
Starting an eCommerce business? Worried about taxes and bookkeeping? Watch this video to get the low-down on bookkeeping for entrepreneurs.
Skip the DIY headaches and go straight to the professionals at Bench – Get 30% off your first 3 months with Bench after your free trial:
The free trial includes one prior month of bookkeeping. During the trial, prospective clients get a full tour of the Bench platform and their accounts and integrations are set up within the platform so that they can get an idea of how Bench works. (The discount mentioned above applies to the following three months after signing up as a paying client.)
📖 CHAPTERS 📖
00:00 Introduction
04:36 My experience with DIY bookkeeping
06:35 3 financial reports you should look at every month
08:36 Bench accounting
11:02 Bench Online Portal
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DISCLAIMER: The information contained on this YouTube Channel and the resources available for download/viewing through this YouTube Channel are for educational and informational purposes only.
This video was made in collaboration and sponsorship with Bench. All opinions are my own.
This description may contain affiliate links. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefitted from personally. Thank you for your support.
#BOOKKEEPINGBASICS #ACCOUNTING101 #TATIANAJAMES #BOOKKEEPINGTIPS #BENCHACCOUNTING
Hi tatiana, your videos have really been inspirational to me…I’m saving up to start my amazon FBA and also for the course…hopefully I’ll start next year and i pray to be super successful like you😘🤗 I’m a Nigerian the naira to dollar rate is not encouraging at all…but I’m determined and optimistic to succeed in this💯🙌🏾
Great to hear! Thank you for being a subscriber 🙂
What state are you business finances in? Are you super organised or in need of some help? Let me know in the comments below!
Seems that they work with only people from us or Canada , what about people from other countries ???
😘😘
Hi Tatiana, I just started watching your videos and you have become a huge inspiration to me! I would like to ask, if you already have money to put away towards starting dropshipping, is it better to start off with solely a debit card or solely a credit card with a high limit? Does it matter? If you see this, thanks in advance!
Thanks! Are you referring to paying for business expenses? You’ll probably need to use a credit card for online purchases.
Glad to hear bookkeeping is still needed since I’m planning to start a side hustle remote bookkeeping business next year.. Bookkeeping is definitely more complicated than people think and there are niches for it as well.
👏🏽Well, let us know when you launch. I need one currently
That sounds cool Traeton! Yes it can definitely be more complicated than you first think
It is amazing. I know many people want to have someone do the world for them.
This was a great video Tatiana, thank you. A quick question, I started my FBA business a few months ago however still waiting on product shipment delivery to start selling on Amazon, so essentially there is no revenue yet, should I have already started bookkeeping or is that more applicable to when I start generating money? Thank you!
Hey Edwin, since you’re already encountering expenses (buying your products etc). you can start with a bookkeeper, or make sure you have a record of everything once you start having sales so that you bookkeeper can back-date everything and make sure they’re all up to date.
Tatiana, thank you for sharing! This video is great. I’m from Germany though, I don’t think the workers at Bench will understand my financial reports from the bank. But it’s an amazing service. I’m actually in contact with suppliers for my very first product, I’ve come a long way and I’m so excited!
That is correct, Bench will only work with US-based businesses.
Hi Tatiana! I have been watching your content for over a year now. Wanted to thank you for all your advice. Quick question: what would be an equivalent book keeping service like Bench but for Canadians? I live in Alberta. 🙏🏼 I sell physical products both in retail stores and also FBA Amazon Canada.
Thanks for watching my content 🙂 I haven’t come across anything like Bench but for Canadians, not as of yet. If I hear about it, I will share.
Thank you for sharing this information! I was wondering, when do you know you should start bookkeeping? I have a business but it’s still growing. Also with the new irs requirement, I’m not sure if I need to begin bookkeeping
You should start right away!
Thanks so much for this video! I am very close to launching my FBA business and I have been wondering about some guidance in bookkeeping. Thank you so much for all that you do for us Tatiana.
💕
You’re so welcome! That’s exciting about your FBA business, keep me updated 🙌
I use Bench as well 🙂 great platform and they did all of my catch up booking last year after I tried to DIY. Do you also use them for CPA services or who do you recommend?
That’s awesome! I don’t have a CPA recommendation as my accountant is not taking on new clients. Bench actually can connect you with a tax advisor though!
Hi Tatiana! I just started my e commerce business using Shopify store platform. Should I wait a year before start to bench?
Hi Tatiana! Such a lifesaver video, much needed for a lot of new e-commerce sellers like myself I believe! I have a question: my I have a US LLC and a US bank account and credit card BUT I am not a US citizen and do not live there, is there still a chance they could help me?
Btw I am a great fan, have been following you a long time and you are the one who made me start my Amazon FBA business so thank you so much for all of your videos!❤🔥🌟
Perfect timing! I was just googling tax stuff for my business. Thanks!
Hi Tatiana. I noticed Bench is only available for US based customers. Do you know anything similar available for Canadians?
Hi Tatiana! I missed you so much. I haven’t been able to sit down and watch you’re amazing content lately. This is great, thanks so much. BTW I know you have work with Quickbook too. Which one do you recommend for starting your business? Thanks 🙏🏼
Aw thanks! Glad you enjoyed the video! Quickbooks is the DIY method, but as I mentioned in this video, I did not have a good experience with that. I recommend leaving the bookkeeping for the professionals.
Honestly I’d never guess this was an ad
So beautifully constructed
Thanks! It’s sponsored but I really do have my own experience working with them, so I’m not just promoting something I haven’t used.
It says they only serve US small businesses. I am in Canada. How were you able to use their services with you also being a Canadian seller? Thanks.
hi Tatiana. Thank you for the video. Bookkeeping is different for different countries… Is Bench international or catering to the US? (would it work for a business based in Denmark?)
Hello! As mentioned in the video, they cater to the US population.
Hi Tatiana ! Love the video! Do you have any recommendations for companies for business outside of the US? Thank you again! ☺️☺️
Important topic indeed. And familiar situation about bookkeeping challenges and receipts fading out.