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This course is for startup entrepreneurs who need a simple understanding of bookkeeping and accounting basics and who don't have a lot of time.
It consists of 9 very short videos (they average under 3 minutes) that cover:
• creating invoices and getting paid
• receiving and paying bills
• doing a bank reconciliation, and
• how these things lead to your financial statements.
If you're just starting out and you want to manage your business more effectively then you need to understand financial basics. This course is for you.
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|Section 1: Introduction|
Creating invoices, paying bills, doing bank reconciliations: these are all basic things every small business needs to do. This short course walks through each of these items and then shows you how - magically! - they come together to create your financial statements.
|Section 2: Basic Accounting Activity|
You can't get paid until you create an invoice. This short lesson shows you what needs to go on your invoice in order to get paid. It also shows you what needs to get tracked so you can follow up with customers, pay your sales tax, and satisfy government reporting requirements.
Hurray! You've just received a payment from a customer. This lesson shows you what needs to get updated in your company records.
Everyone knows how to make a bank deposit, right? This lesson reminds you to update your financial records and keep track of your cash every step of the way.
Getting a bill from a supplier means you need to keep track of several pieces of financial information - and you have to remember to pay it. This lesson shows you how.
You should verify a few things before paying a bill. And then you'll need to update your financial records in a couple of places.
Don't forget to remind overdue customers to pay you: the squeaky wheel gets the grease.
Double-check everything that happened in your bank account at least once a month. Here's how.
|Section 3: How Your Accounting Activity (Magically) Becomes a Financial Statement|
Everything you've done in the previous lessons has an impact on your financial statements. See how this works - and learn that financial statements aren't so scary after all!
|Section 4: Summary and Next Step|
|Lecture 10||14 pages|
Here's a quick recap of the main points of the course in a PDF file that you can download and share.
If you're interested in learning more about financial statements, here's the perfect Udemy course. 12 very short lessons that will take about a half hour to watch. Watched by thousands of small business people who rate it very highly - almost a perfect "5"! And it's free - what are you waiting for... :-)
Hi there! I'm a strategy and business prof who likes to keep things simple. I'm also an entrepreneur who's been through the wringer a time or two. See the grey hair? Yes, there's lots of it. Want to know why? Because each of these grey hairs came from a problem, an issue, a challenge in one of my companies. Well, some of them came from my two kids but that's a whole other story!
You know what I wish? I wish some grey-haired guy had shared his experiences with me 34 years ago when I started out as an entrepreneur. Would've saved me so much time and money. Except, I guess, there was no Internet back then. Or computers. Or Udemy. Oh well, never mind... :-)
My courses are all designed to help small business people. Each lesson is short - a minute or two, most of them - because who's got the time? Plus, I believe that short and simple is better. Oh, and they're free so you can just jump right in and get what you need.
Full disclosure: I also own StratPad, a software company that helps entrepreneurs create business plans. So some of the lessons have StratPad's logo on them. Hope you don't mind. Who knows, though? You just might need a business plan some day and then you can try StratPad for free.
Enjoy the lessons, I hope they help you, and feel free to tell me about your business adventures on Twitter and LinkedIn. I'd love to hear your stories!
All the best,
P.S. Here's some more details about me and my grey hair...
• serial entrepreneur working on 4th startup
• founder/designer of StratPad (cloud software that creates business plans for entrepreneurs)
• adjunct professor of business strategy and planning, Royal Roads University
• MBA from Kellogg School of Management, Northwestern University
• former "big-five" management consultant