HOW TO MANAGE ACCOUNTING AND BOOKKEEPING IN QUICKBOOKS ONLINE WITH PROFIT AND LOSS

 

 

HOW TO MANAGE ACCOUNTING AND BOOKKEEPING IN QUICKBOOKS ONLINE WITH PROFIT AND LOSS

To manage accounting and bookkeeping in QuickBooks Online with a Profit and Loss (P&L) statement, you can follow these steps:

               

Welcome to our tutorial on how to perform accounting and bookkeeping in QuickBooks Online with profit and loss. QuickBooks Online is a powerful and easy-to-use accounting software that allows small businesses to manage their finances efficiently. In this tutorial, we will show you how to use QuickBooks Online to track your income, expenses, and profit and loss. We will also provide tips and best practices to help you get the most out of QuickBooks Online. Whether you are new to QuickBooks Online or an experienced user, this tutorial will provide valuable insights and information to help you manage your business finances more effectively.

1.       Set up your Chart of Accounts: Go to the Lists menu and select Chart of Accounts. This is where you'll list all the accounts that you'll use to track your business's income and expenses.

2.       Enter your transactions: QuickBooks Online allows you to enter your transactions in a variety of ways, including manually, importing from your bank, and using apps such as Receipt Bank. It's important to keep your transactions up to date so that your P&L is accurate.

3.       Categorize your transactions: As you enter your transactions, make sure to assign them to the appropriate account in your Chart of Accounts. This will help you track your income and expenses by category.

4.       Run a P&L report: To see your P&L, go to the Reports menu and select Profit & Loss. You can customize the report to show the data that you want, such as a specific time period or account.

5.       Review and analyze your P&L: Take some time to review and understand your P&L. Look for trends and areas where you can improve your profitability. Use the information to make informed business decisions.

6.       Keep your books up to date: It's important to keep your books up to date on a regular basis to ensure that your P&L is accurate. Set aside time each week or month to enter your transactions and review your financial data

7.       Use classes: Classes allow you to track income and expenses by location, department, or any other category that you choose. To use classes, go to the Lists menu and select Class List. Then, assign a class to each transaction as you enter it.

8.       Use the Budget feature: The Budget feature in QuickBooks Online allows you to set financial goals for your business and track your progress. To create a budget, go to the Planning & Budgeting menu and select Set Up Budgets.

 We can help you to manage your accounting and bookkeeping in QuickBooks online, click here to check out the service. 

 

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Rise in Poor Parenting in Society

 

"Rise in Poor Parenting in Society"

It seems that every day, we hear more and more stories about bad parenting in our society. From parents neglecting their children, to physical and emotional abuse, it is clear that the problem of poor parenting is on the rise.

But what is causing this increase? Some experts point to the increasing demands and stresses of modern life, which can make it difficult for parents to prioritize their children's needs. Others suggest that a lack of education and support for parents may be contributing to the problem.

Whatever the cause, it is clear that the consequences of poor parenting can be severe. Children who are neglected or mistreated may suffer from physical, emotional, and psychological harm that can last a lifetime. They may struggle in school, have difficulty forming healthy relationships, and be at increased risk for a variety of mental health problems.

So what can be done to address this issue? One solution is to increase support and resources for parents, whether through parenting classes, counseling, or other forms of assistance. We also need to prioritize the well-being of children in our society, and work to create a culture that values and supports good parenting.

Additionally, it is important for parents to seek out and accept help when needed. Raising a child is a demanding and sometimes overwhelming task, and it is completely normal to need support and guidance along the way. It takes a village to raise a child, and seeking out help from friends, family, or professionals does not make you a bad parent. In fact, it shows a willingness to learn and improve, which is essential for being a good parent.

It is also crucial for individuals to speak out against poor parenting when they see it happening. If you witness a child being neglected or mistreated, it is important to report it to the appropriate authorities. This can be a difficult thing to do, but it is an important step in protecting the well-being of children and working towards a society that values and supports good parenting.

In conclusion, the rise in poor parenting in our society is a serious issue that needs to be addressed. By increasing support and resources for parents, prioritizing the well-being of children, and speaking out against poor parenting, we can work towards creating a brighter future for our children and a more supportive and loving society.

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PRACTISE THE FOLLOW CAREER IMPROVEMENT TIPS AND COME BACK TO THANK ME BY THE END OF 2023

PRACTISE THE FOLLOW CAREER IMPROVEMENT TIPS AND  COME BACK TO THANK ME BY THE END OF 2023

                                           

Set specific, measurable, achievable, relevant, and time-bound (SMART) goals for yourself and work towards achieving them. This will show your employer that you are proactive and serious about your career development.

Take on additional responsibilities and projects, even if they are outside your job description. This will demonstrate your willingness to go above and beyond and can also help you build new skills and knowledge.

Network and build relationships within your company and industry. Having strong relationships with your colleagues and industry professionals can open opportunities for career advancement.

Seek out learning and development opportunities, such as taking on-the-job training, completing a professional certification, or pursuing additional education. This will help you stay up to date on industry trends and show your employer that you are committed to personal and professional growth.

Communicate your career goals and aspirations with your manager and seek out their guidance and support. Let them know what you hope to achieve and how you plan to get there.

Be proactive in seeking feedback from your manager and colleagues and use it to identify areas for improvement. This will show your commitment to self-improvement and can also help you better understand what is expected of you in your current role.

Be patient and persistent. Getting a promotion takes time and may require perseverance. Be willing to put in the hard work and stay focused on your goals. 

Read about the rise in poor parenting in society here

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Does everyone come to earth with the same amount of potential?

          There has always been an argument as to the potential equality among mankind; that since there is no gainsaying the fact that everyone comes to this earth with a certain amount of potentials, do we all come to earth with the same amount?  This is a major concern to many. And, after given a full consideration to our genetic and environmental factors, which can never be ignored in the history of mankind, I have come to realize that everyone does not come to this earth with the same amount of potential.

          First and foremost, the impact the difference in our genetics has on us can never be overemphasized, which explains the mystery behind why twins from the same parents perform differently in the same class and why we choose different careers in life. Our genetic makeups are different. Everyone doesn’t have the same choice. And our choice dictates what we like and what we don’t. That is why everyone prefers one profession to the other. And professions aren’t the same in value. Even people don’t reach the same level of accomplishments in a profession; some still do better than the other. In his time, Samuel Ajayi Crothers stood out among his peers in Nigeria. This doesn’t really mean that all his peers did not do well, but they never had the same level of accomplishment he had in that line of profession. And this reminds me of twin brothers in my class, when I was in secondary school, one of them was very good at mathematics and the other was very poor but good at other subjects. So it is very clear that the difference in our genetics shows that everyone doesn’t come to earth with the same amount of potential.
In addition to the difference in our genetic makeups, where we are brought up and the kind of companies we keep determine how we think and see life, which in return have a significant influence on what we become in life. In a February 2015 Science News scientist result publication titled “Our thoughts are susceptible to external influence, even against our will” Ezequiel Morsella,, associate professor of psychology and co-author of the study at San Francisco State University, said; “Our conscious thoughts seem protected from our surroundings, but we found that they are much more tightly linked to the external environment than we might realize.” This confirms the saying that we are products of our environments. Our environments influence every aspect of our lives; how we think, how we eat, how we dress etc. at the end it influences what we become in life. Therefore, since we are not born and brought up in the same environments neither do we keep the companies of the same set of people, we are bound to have different likes and dislikes, which will ultimately affect what we become in life and also confirms that everyone doesn’t have the same amount of potential.                    
       

Yes  On the other hand, some have taken the stance that everyone is equal and has the same right before God; therefore we are all created with the same amount of potential. So it now depends on how everyone strives to make use of the potential he has is what differentiates one person from another. Although parts of this argument are valid, but there are some deficits in it, which render the whole submission invalid. Being equal before God does not mean everyone has the same amount of potential, since everyone is not made of the same genetic material nor born in the same environment. In an October 2019, Britannica article titled “Variation” the Editors of Encyclopedia Britannica discussed; “Variation, in biology, is any difference between cells, individual organisms or groups of organism of any species caused either by genetic differences or environmental factors. This difference can be shown in our physical appearance, fertility, behavior, learning and mental ability.” So this variation is certain among us, it gives rise to what makes everyone unique and different from one another and at the end, it affects our potentials.
           Undoubtedly, we can all see how the difference in our genetic makeups and environments affect our lives. And considering these factors, as explained above, everyone doesn’t come to earth with same amount of potential.

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What are three things people can do to start changing a bad habit?

       In life, many people oftentimes find themselves engaging in acts which, after a considerate amount of sober reflection, are seen improper or gruesome. They are seen this way because they always have negative consequences, either to one’s health or how one is perceived in the society. We really don’t want to continue with these acts. Surprisingly, we still go back to engage ourselves in them. These acts are known as bad habits. And the three things people can do to start changing these bad habits are to identify the routine, identify and isolate the cue and experiment with rewards.

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​It is often said and well understood that whenever a habit or thing is identified a problem, then it is no longer a problem. Because the first step in solving a problem is in agreeing with oneself that there is one, then the solutions to it can’t be farfetched. For example; In the case of someone that always likes to get drunk, masturbate, smoke, or over eat to list a few, once the doer can agree with himself that this habit is bad, then he has taken a first step in doing out with this bad habit. And these bad habits are also known routines. In a February 2019 life hack publication titled “how to break bad habits” Leon Hoconfessed; “For me, I was sitting most of the day in front of my customer at work in a slouching position. I drank coke every single day in an attempt to stay awake. I put off any kind of exercise regime because I felt that it was better to just relax and have fun after a whole day at work.” This consequently had negative effects on his health; weighty gain and back pains. So, the too much drinking of coke and avoidance of exercises were his routines. Once he was able to identify the habits as a problem, he made a great step towards changing them. Therefore, identifying the routine you want to change is one of the three things to start changing a bad habit.​​​​​​​​​
​Every bad habit is intended to be a temporary solution for a particular situation we can find ourselves as humans orunknowingly created because we see others do it. When we are in a worrisome situation and we decide to choose an unhealthy action as a temporary solution to neutralise or satisfy the feelings, if this action is continuously repeated, then our brain will be used to identifying it as the right solution for that situation. This action will unknowinglybecome our habit. Our brains are like a rough pathway, as it has been said, the more we pass through it the more it becomes wider and smooth. So when we repeatedly practise an act then it becomes a habit. So a situation for which a habit is created is the trigger or cue for that habit. And it is said that science has shown that almost all triggers can be found in the following categories; location, time, emotional state, other people, immediately preceding action. This can be easily confirmed by the confession of a friend to masturbation: He said he used to have the urge to masturbate when he was alone in his room. Being alone his room, in another word, hislocation was his trigger to masturbation. So the second thing to start changing a bad habit is to identify the cue that brings about this bad habit. And once this is identified and isolated, the problem is half solved.​​​​​
​There are always alternatives to solving a problem. Once we determine to change our bad habit, we need to find a good alternative action that will later become our new habit. And this new habit will provide us with the exact results we do get from the old habit. So in finding these alternatives, we should be able to provide answers to the following questions; have I identified the trigger? What feelings am I trying to neutralise or satisfying? Is there any other action I can engage myself inthat will give me the same result I get from using my old habit?  Once these are honestly answered, we will realise that there is always a good alternative action to every bad ones. Mind you, if the first action you choose does not give the result you expect, you leave it and try another ones till you get the one with the expected results. This process is calledexperimenting with rewards. That is, you start trying every available good alternative to find the one that will give the result of your old habit. For example, if loneliness is your trigger, you can try meeting with new friends. And if meeting new friends does not solve it, then you should try other good alternative actions till you discover the one that can give the result of the old habit. We will discover that at end of the experiments we will find a good action, and if repeated continuously, this will become our new habit that will successfully replace the bad habit. Though, as supported by Leon Ho in his publication mentioned above; “Decide on something you will do once you feel triggered to go back to your old habits”. If you continuously engage yourself in this new habit, your old habit will be completely replaced.​​​​​

In conclusion, no matter how obsessed we are with ahabit, once this habit is identified a bad one and we determine to stop it, we will definitely do so. So, therefore, the three things one can do to start changing a bad habit, if followed to the letter, are to identify the routine, identify and isolate the cue, and experiment with rewards, then that bad habit will become something of the past.​

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NO PAY NO GAIN IS WHAT LIFE SAYS.

Life is difficult. It comprises of a series of problems.

This is one of the greatest truths of life. Surprisingly, many do not know. And that we must acknowledge.

When we fail to see this, we always try to avoid problems when they arise or try to ignore them, thinking the problems will go away themselves.
THE IMPORTANCE OF MASTERING THE ACT OF SILENCE



 But when we believe and accept that life is difficult itself then it will no longer be difficult. Because, its difficulties will no longer matter. This enables us to prepare our minds against these difficulties. Thereby it grants us the enablement to transcend them.

So when problems come our ways we will be ready to face them, when we face them and feel the pains that come with them, it strengthens us mentally and also spiritually.

But the desire to ignore or avoid these problems because of the pains that come with them is the basis of human mental illness.
READ WHY WE SHOULD HAVE A SECOND THOUGHT ABOUT RELIGIONS IN AFRICA HERE

Many try to deaden themselves to the pains  by taking drugs or try to shift the blames on someone or the society as though life shouldn't have any challenges, but to be always easy.

 But life is not easy, it can't be and it shouldn't  be. Because that is what makes it challenging and interesting.

No pain no gain they say. Absorb the pains to enjoy the benefits.

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THE IMPORTANCE OF MASTERING THE ACT OF SILENCE

Do you know that human beings are endowed from the beginning of time with one major quality which if properly used can be a solution to many of our daily problems in life? Which is silence: The ability to remain silent in some seeming uncontrollable situations.

As simple or common this might sound, those who failed to recognize its magical power are currently in their early graves, hospitals, prisons or having broken homes.

In this post I will quickly describe some situations where there is a need for one to remain silent which can prevent one from making so costly a mistake.

1. An unfortunate encounter with someone who is having a bad time:
  I believe this scenario is often common at work or at social gatherings when someone with whom you often play can easily pick an offence from any little thing you say. And to prevent the situation from degenerating to a regrettable end, it is better for one to resort to being silent and calmly walk way.
      CHECK HERE: WHY WE NEED TO HAVE A SECOND THOUGHT ABOUT RELIGIONS IN AFRICA.
2. Discussions turning to arguments:
Often time, during discussions with loved ones, light discussions can turn to heated arguments. One must not be carried away when this effectually happens. Because argument always creates unnecessary hatred. It is always seen as a competition of egos by the parts involved. people are left emotionally hurt at the end. So when a discussion is turning to a heated argument one person should be silent and calmly claim to agree with the other person for peace to reign.

3. When an audience is not credited during a discussion:
Have you ever found yourself in a casual group of discussion where different views are raised by everyone on a particular topic of discourse and an audience or the necessary acknowledgement is not created for you to add your own views. In this situation you might feel disgruntled and dejected. This always happens when everyone wants his voice to be heard which always results to a lack of decorum and unnecessary quarrels within the group. So in this situation, one needs to know how to be silent and calmly walk away.
        STOP WORRYING ABOUT BEAUTY HERE IS THE SECRET
Conclusively, there are a lot of situations in which this quality - the ability to know when to be silent in our daily encounter with people in life, needs to be applied. And the ability to know when to apply it makes one the master of the act. Being a master of this act will prevent one from always having emotional troubles and a lot of preventable mishaps from befalling on us.

        DO NOT WORRY! EVERYTHING WILL SOON BE ALRIGHT

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