Many bookkeeping VAs work for accounting firms or support a client's CPA, handling the day-to-day so the accountant can focus on review and tax.

Every transaction keeps the equation in balance. If the business takes a ₱100,000 loan, cash (asset) goes up ₱100,000 and loans payable (liability) goes up ₱100,000.

Double-entry bookkeeping records every transaction in at least two accounts. Total debits always equal total credits.

The chart of accounts (COA) is the list of all accounts a business uses, grouped by type. A clean, consistent COA makes reports useful.

Source documents prove each transaction: invoices, receipts, bills, bank and card statements, payroll reports, contracts. Rule: no document, no entry. Ask the client instead of guessing.

• Practice: use the free QBO test drive (sample company) and, later, the free QuickBooks Online Accountant account
• Key areas: Dashboard, Banking/Transactions, Sales (invoices, customers), Expenses (bills, vendors), Reports, Chart of Accounts (Settings → Chart of accounts)
• Set up: company info, accounting method, fiscal year, chart of accounts, products and services, sales tax (if applicable)
• Users: the owner invites you as a user or accountant, so you never need their password

• Practice: the free Xero demo company (resets regularly)
• Key areas: Dashboard, Business (invoices, bills, purchase orders), Accounting (bank accounts, reports, chart of accounts), Contacts
• Bank reconciliation in Xero means matching bank feed lines to transactions, done daily or weekly
• Hubdoc (included with many Xero plans) captures receipts and bills

Learn one platform well first, then the other. The concepts are the same; only the buttons differ.

• Match when the transaction already exists (a paid invoice or bill). Don't add it twice.
• Categorize new transactions to the correct account with the right payee
• Transfers between the business's own accounts are transfers, not income or expenses
• Owner's personal spending through the business goes to Owner's Drawings, not an expense
• Loan payments: split principal (liability) and interest (expense)
• When unsure, put it in an "Ask My Accountant / Uncategorized" account and ask the client

• Bank rules auto-categorize recurring transactions (e.g., "Globe Telecom" → Telephone & Internet)
• Review rules regularly. A wrong rule creates many wrong entries.
• Receipt capture (Dext, Hubdoc, QBO app): the client snaps receipts and you review, then publish and match them to bank lines
• Attach documents to transactions. It saves hours at audit or tax time.

• Invoices need: customer, invoice number, date, due date, terms (Net 15/30), items, amounts, taxes
• Record payments against the invoice so it shows as paid. Don't just categorize the deposit as income, or income is doubled.
• Undeposited Funds / Payments to deposit (QBO) groups several payments into one bank deposit
• Credit notes and refunds for returns and adjustments

Payment reminder templates.

• Check each bill for duplicates, the correct amount, and the correct vendor
• Run the AP aging report weekly and flag bills due soon
• Watch for early-payment discounts and late fees
• Keep vendor details (tax IDs, payment info) up to date and secure. Verify any change to bank details by phone, since it's a common fraud trick.
• US clients: vendors may need 1099 forms at year-end. Track contractor payments and let the CPA handle filing.

• Card and cash expenses: categorize and attach receipts
• Employee reimbursements: record the expense and the reimbursement payment
• Petty cash: keep a log and replenish with receipts
• Common categories: advertising, software and subscriptions, meals (tax rules vary), travel, office supplies, contractors, bank fees

Reconciliation proves that the books match the bank or card statement for a period.

1. Get the statement: ending date and ending balance
2. In the software, start reconciling that account for that period
3. Tick off each transaction that appears on the statement
4. The difference must be 0.00
5. Save the reconciliation report

Don't edit transactions in closed or filed periods without the accountant's approval.

• Payroll tools (Gusto, QuickBooks Payroll, ADP) calculate pay, deductions and taxes
• VA tasks: collect timesheets, update employee details (with approval), review payroll reports, record payroll journal entries if the payroll tool doesn't sync
• Payroll entry: debit wages and employer tax expenses; credit cash, plus liabilities for withholdings to be paid later
• Philippine employers: SSS, PhilHealth, Pag-IBIG and withholding tax apply. Follow the client's accountant and current government rates.
• Payroll data is highly sensitive. Handle it with extra care.

A reliable close, done by the same day every month (e.g., the 10th), is what clients and accountants value most. Month-end checklist template.

• Some clients charge sales tax (US) or VAT/GST (other countries). The software tracks it, and the accountant advises on rates and filing.
• PH businesses deal with BIR requirements (VAT or percentage tax, withholding taxes, books of accounts). Follow the client's accountant.
• Your job at tax time: clean, reconciled books, organized documents, and fast answers to the accountant's questions

Other useful reports: AR and AP aging, general ledger, trial balance, transaction lists, budget vs actual.

• Start with 3–5 plain-English bullet points: revenue, profit, cash, overdue invoices, unusual items
• Compare to last month and the same month last year
• Point out things that need attention: large unpaid invoices, rising expenses, low cash
• Don't give tax or investment advice. Suggest discussing it with their accountant.

Many clients are months (or years) behind. Catch-up work is a great entry point and often turns into monthly bookkeeping.

1. Assess: which accounts and months, the last reconciled date, the state of the chart of accounts
2. Collect statements and documents for every month
3. Fix the COA; set up bank feeds and rules
4. Categorize and match transactions month by month
5. Reconcile every account, every month, in order
6. List open questions for the owner or accountant
7. Deliver reports plus a summary of what was fixed

• QuickBooks Online Certified ProAdvisor: free through QuickBooks Online Accountant
• Xero Advisor Certification: free through Xero Central for partners
• Optional: bookkeeping courses (Coursera, Intuit Academy), Excel certifications
• Portfolio: journal entry sheet, COA, reconciliation report (practice data), month-end checklist, sample monthly report, SOP. Never use real client data.

Full client strategy on the Land Clients page.