at organic lip care. Alright so everyone's lips are different and it's from that difference between all authentic looking gorgeous but we can enhance on how we look by actually taking care of our different lips because that's outstanding. I think that's one thing that you notice when you meet someone and they smile at you be like that smile back. The studio I'm joined with Steven Juguna who is the CEO of Blastair Beauty Lip Care. Thank you very much Misha. Yes you did, shaking quite a trite. Welcome so tell us more about Blastair Beauty Lip Care that is. So Blastair Beauty is an organic lip care line based in Nairobi Kenya. So basically we make organic lip care that is lip balms and lip glosses. All of them from organic compounds that is lip loving oils and beeswax and also inclusive of like even the mica that we use. Everything is sourced both locally and internationally but it's 100% natural and organic. Yes yes so basically it's just healthy lip care. Before we go into details of what you do, because give us a little bit of a background of who Steven is, your educational background, did you study? I'm a 23 year old entrepreneur. I started my lip care line sometime in 2018. Back then I was in college so I was very broke. I only had 300 above in my pocket and then I had visited a friend in Nyeri a while back. So when I got here I rushed to Du Bois. I got a few lipsticks. One has been for 50 shillings. I went back to school. I was in KMTC back then. I was studying of course in orthopedics and trauma medicine and so I started a small cosmetic business in school which later with time back to this. I learnt the formula of making this from YouTube. So something so small has become something very very important and very sentimental in my life. But apart from this I also run a small smoky joint. So I basically sell eggs and smokies around home. So I'm a net of renewed heart. Though school wise I just graduated recently. I have a diploma in orthopedic and trauma medicine. So start to do it. Bone care and emergency medicine. Interesting. Wow at your age and it's just it's amazing how you are in a position to just understand that you need to make an extra coin. Just you know juggle a little bit of everything and there just to make ends meet. So talk to me about what is the passion of beauty come from? I think it comes from my mom runs a salon around home. So I think growing up I've seen her basically touch people up and make them look good and feel good and be confident and I'm one person is always like there you know I'm always I've always been this kid who I would work in a room and look at people and be like I like her because she looks like this. I don't like her makeup. So I think it came from that. I never really understood it until a particular point. I'm with my friends in town and we get in a very big cosmetic store along my avenue and I get down like you know what guys someday I want to run such kind of a business and but I think lip care is basically beauty is it's a multi-billion business industry and luckily it's something that has not been embraced fully by creators and other renewals and that's I think that I want to change in future. So when you're that friend when you get into a store you're just simply looking for probably a nude lipstick. You were just thinking about how they manufacture the whole thing. Yeah yeah yeah so my approach to cosmetic is mostly product-based not really service-based. Talk to me about funding your business. Back in 2018 you have 300 bop you went to a store to buy lipstick got a couple of mixtape and here you are manufacturing your own. So talk to me about the initial early stages of your business. You're working from home right? Yes yes yes yes I basically make them in my kitchen. Perfecto. Yeah I'm always making them in my kitchen. So talk to me about your initial investment and funding of the business. So what happened was at around 2019 December I happened to attend an entrepreneurship dinner that was being hosted in Nairobi Baptist and so there was this lady who was a speaker and after the whole session I went to her and I told her I introduced myself to her and I told her that I wanted to start a cosmetic business. Who are you introducing yourself to right now? She was a lady she was giving she was actually the host. Yes yes she was the host speaker and so I talked to her about about my business and and then we were like cool great we exchanged contacts and then sometime in January of 2020 she gives me a call and she's like I'm very interested in your proposal and so we met we talked we had the details right I had a few small coins in my savings account and then she topped out the rest and yeah that is how basically we started in March of 2020 yeah. All right okay it's one thing to just come to your page yeah which by the way it's uh organic lip care solutions. No like your social media handle. Yeah okay people like that. Yeah organic lip care solutions yes. So you know it's one thing to come to you and just say that I want to you know get a lip gloss or anything but I wouldn't think from the aspect of what you go to to just make this. So briefly take us through that in terms of manufacturing what sort of ingredients do you use how long does it take for you to make because they're different uh is it do you say flavor? Yes yes they are different flavors. Yes. You go into details as well so briefly yeah take us through the manufacturing aspect what sort of ingredients do I use how long does it take to even make uh let's say please don't let me the candy one. Yeah um so first of all by the I learnt the whole procedure to make the bombs from YouTube I watched a video on YouTube and it made so much sense. So basically we use um we use we use beeswax we use um there is shea butter there is coconut oil there is castor oil there is vitamin E oil. So basically we take organic oils that are very lip loving and very friendly to the skin of the lips all of them with different compounds an example of an ingredient like coconut oil it's a very good natural skin bleacher okay lighten us so in case like you're suffering from darkened lips and you use our products so our product is going to with time restore your lips back to their very natural state. Time wise it takes around one hour between 45 minutes and one hour to make a specific batch that is a specific flavor yes yes because there is also the process of cleaning and you also have to make them through a heated water bath so it's quite it's not like quite a tedious process but a very simple one around between 45 to an hour I'm always done with a batch that is perhaps a certain flavor okay for guys who have uh we are people who have who have issue with dry lips yeah and then you have guys who have issues with cracked lips I don't is it the same thing it's not they are mostly the same thing mostly that they are caused by different uh okay okay so what would you advise for people who have that particular uh issue um so what you have done with our product is I'll give you an example of our bums we have two bums here we have this one this is a herbal lip balm so this is a very good balm for anybody who suffers from extremely dry lips one of the reasons it's good is because we have double the waxes and the oils so what beeswax does is beeswax will lock in moisture in your skin so you're not going to lose a lot of water remember dry lips will be caused by factors like dehydration okay or the weather perhaps it's extremely sunny or therefore who keep licking their lips because they're just generally dry so this one has double the waxes so um it's going to help lock in moisture and restore your lips so you won't have like extremely dry lips but they'll be very moisturized and then now we have our other bums so I'm sorry okay so these ones are for people who have very okay lips but they want to make sure that their lips stay healthy and moisturized and well taken care of yes yes yeah uh take us to a couple of tips that you can give us to just ensure that we have healthy looking lips have the looking lips um one of them is um hydrate always always always always always always hydrate and two is um an example like for ladies because they are always using lipstick right um so get a product like our balm is a very good lipstick base okay so just apply it beneath your lipstick put your lipstick on yeah so close you have already protected your lips but don't really especially for cosmetic we don't unfortunately there is a lot of counterfeit out there so before you apply the product directly on your lips use a very good quality product to protect it so our balm is very good as that outer protection for your lips okay and then so in the evening also I realized you know you'll just remove your lipstick and then just apply Vaseline and your sleep um so you can also use it to just for nightcare after care on your lips okay so in the meantime your lips will be very sustained um even for people who smoke because smoking also cause darkened lips just use a lip balm after smoking and then we have people who actually have dark lips and yet they don't smoke yeah um probably uh it developed uh with time due to lipstick that one has used prior yeah as you've mentioned a counterfeit of the original product of course how do you deal with that to just retain back to the normal color um so um like as I've said our products have an example of coconut well that's not product so consistent use of the product is going to up also with like dark lips they are also caused by extreme weather that is extreme humidity that is hotness or the weather can be very cold so always make sure that your lips are just well sustained and and just covered don't go with them out there can do the style yeah all right let's go to uh brand visibility yeah and positioning uh what a couple of things that you've put together to just ensure that your name is out there in the market space yeah um that take us through your branding strategy as well um um when we started um I had I had the intention of you know going full makeup full skincare full hair and so one of the one of the things that I've done for brand visibility is just niche marketing and it's just lip care lip care only only lip care and then also introducing and introducing products that are just fun and and very very engaging also we have had a very great group of people especially makeup artists who have taken our product used it reviewed it and talked to their clients about it there's also paid partnerships by google ads and things of that sort so but mostly time time is quite a big factor when it comes to visibility because it takes time for especially for the Kenyan market it's a very very peculiar peculiar market it takes time for people to trust you and your work so as long as you're like very very consistent and there is always some kind of improvement I usually call myself a creator of my products and my work because this is something that keeps growing so constant improvement and less on speed in advertising or how you present your work like when you started you only had one flavor we never had glosses or other flavors of yes you only had one and it was packaged in other tubes so consistent working and just evolving your work people when people see effort they just appreciate it yeah and you've mentioned something which is very true that it's very hard to break into the market space and the competition is very high what keeps you consistent and what's the brand vision what keeps me consistent is the people that buy from me I have had the privilege of getting some of the best testimonials ever and so when someone texts me in the morning or after you buy my product and they're like hi Steve I bought your product so far so good I've seen my lips improve I'm going to definitely recommend this to my friend and the friend calls and they're like that seriously keeps me going I've had the best clientele in the whole world I have honestly had an opportunity of experiencing that the brand vision yes we intend to become I hope people mark this because I want them to and I'm taking back again I want them to mark this but our vision is to produce quality original affordable cosmetics and so our big dream is to become one of the biggest actually manufacturers and distributors of cosmetics quality affordable original cosmetics in eastern central Africa yes yes probably in the next 10 or 15 years I mean I said we know like we've gone on with this conversation back and forth and I've just realized I didn't ask or I'm just curious that now why did you choose to go Ghaniq because of one thing we my it's I told you that I used to buy lipstick from Du Bois and go and sell to my mom so on this particular day my mom bought lipstick it was it had anesthesia still I was there and I was like oh my god you know I just saw my mom lipstick for 100 but that's not the ideal anesthesia still it's not right it's something that she's even putting very close to her mouth it's something that she's consuming and so the aspect of the the idea came from me wanting to produce a product that was very wholesome because my idea of doing work and business is doing work that is just you know that work that does not really I don't really have to step on people or harm people so that I can make money my the idea of organic lip care is just having a product that is whole a product that is safe for myself I use my product because it's safe for myself and it's safe for my little brother and it's safe for my mother so the the idea is just having a product that is just safe for human consumption a product that does the job that's supposed to do but it's also not really having very sad negative consequences all right let's look at your retail strategy do you work with retailers or do you sell the products directed to your customers at the moment we're just selling directly to our customers but we are we are looking forward to retailing our products in our own shops starting in January of 2023 yes yes yes and who are you like literally like your target market my target market are mostly women and and and men people as long as these people who are passionate about organic beauty and wholesome living whether men or women as long as someone is interested in wholesome living and organic beauty those are our target market looking back from 2018 and just you know bringing this baby to to life what are a couple of lessons that you've learned along the way my greatest lesson has been consistency and discipline it pays it honestly pays when i started i didn't know stuff i only knew how to make one flavor of lip arms i didn't know the kind of mic i didn't even know like things like makeup that is the coloring that we use our products is is usually available with something that you use and and for some reason seeing myself grow as a person and seeing my work grow has been like one of those very big highlights another lesson has been um i'm sure there are a couple yeah yeah there are so many uh but all the most important ones has been just the power of just being very disciplined and being very consistent it pays all right it pays i've ever been in a position whereby you have products yeah and you feel like these are the best products why kenya is not buying these products have you ever been a positional by there are no sales and um what made you keep going um uh it actually struck a few months you see i started in march of 2020 and then at around april may corona hits and so i live in kiambu so i usually get most sales to Nairobi so basically there's a lockdown and i have merchandise that was worth a lot of money close to six thousand shillings lying around in the house and so by the time the lockdown was being lifted most of my product had gone bad you know i was i was watching myself throw them away i'm like god how do i have to go through this but basically what has seen me through is is the dream is the dream is the dream it's right here it's the dream it just keeps me going not the money not the people but just the dream and i've always lived with the idea of if i make a product and people don't like it or if it doesn't sell as long as i have put my work there that is always enough yeah the the opportunity to just work and produce something that is mine is usually just very much enough yeah let's look at uh let's address the legalities uh in in your line of business i'm sure there's aspect of licensing and building clientele aspect of credibility of course how do you deal with that and are you guys licensed uh not yet i'm working on registration and staff of that sort we're already consulting lawyers yeah but it's organic so yeah it's very organic uh but mostly the credibility aspect of it comes from um how can i put it um i think god has been very very gracious and and very very kind to us and we have come across people who are very very trusting but also and the results from client yes we have if you look at our social media just you see like we have a lot of testimonials and these are real life scenes from people um these are so the other the other aspects of um like we have just had people just love our work and and also we film and we show people how we make our work all of it yes yes we have it on youtube so we also have those issues out there so there's a lot of transparency on how we do our work yeah even in the aspect of manufacturing of course okay so has steven was there a business plan did you have a business plan did she say that this is what i'm going to do this is the amount of finances that i'm going to set aside this is the retail strategy was there like a business plan yeah yeah yeah um one person who believes in creating systems um and so much of my time has been spent on reading books and doing research and writing down goals and ticking what has been done reviewing what has been done what works and what really doesn't and it comes across you know when you're now running a small business on your own you become everything and so it comes across all platform from the finances to marketing to legal and everything of that sort but yes we do have it all right how important is it for someone who wants to start a business to have a like a drawing board of how they want things to run yeah and i'll ask the second question right after this it's like um you see it's one being like assuming we are lighted at around archives this morning and for me my goal was to come to y254 so i know the route to y254 and then the other person we are two of us and you you're just there and call like so see june in the u n um i'm in the horror park i'm in the mombasa road you see um focus is very important um because so with that written plan you already know how you're where you are going where you want to go so we focus exactly it keeps you very it gives you a sense of of direction and then that way you can also be able to review yourself and what is working and what is going on yes yes for one person who wants to get into the beauty entrepreneur uh beauty the beauty entrepreneurship space um what would be your advice when it comes to just the let's look at the earlier stages of just starting off what would be your advice to that particular person intention intention um this is an industry that has been flooded with so many counterfeit poor products i think you have seen it on the internet someone went board suji foundation you know skin cream applied it the skin has changed damaged forever um you know uh i once saw a feature on tv years back when i was in high school i was saying that people are consuming lipstick that has led in it it's led it's a very dangerous mineral and so on would be just be very intentional with your work you know um the point of doing business and when god gives you a chance and god entrusts you with something like this make sure that you're just making honest work it's all about the money also the imposition about honest work and i'm one person who believes that there are people in this republic and in our society who have made an honest living and god is capable of blessing so don't seriously just use shortcuts or things of that sort just make an honest living just have honest work okay yeah if you can't seriously use your product if you then if you can't trust your product with your family or someone very dear to you then don't sell it to anybody else absolutely yeah be very intentional okay and uh as you wind up what a couple financial lessons that you have learned along this from from your business from my business oh save god save save save save save um spare some time some linear of money just save for a rainy day another one is don't hold money no no no no no no you know um just invest it back to your business okay you make 10 000 in sales save a thousand or two thousand take eight thousand back do better do better do better but don't seriously hold money just do better and also do not mix your financial money with your personal finances always pay yourself also yeah always pay i pay myself with commission or product so always pay yourself and be disciplined very very disciplined very very disciplined especially because this is you like no one is watching nobody's watching you um so be very very disciplined yeah couple of challenges that you faced along the way uh understanding the market locally um that has been one very understanding how i'm still figuring it out because um the Kenyan market is just very different it's very different it's very different you can set up a website because you have read an american book that is telling you to set up a website and do stuff but here um yes people know of websites and how they work but they barely do actually visit the actual website it's in shop another challenge has been before we move to the another challenge sorry for cutting a shot you feel like for because you mentioned something important like when you talk about website website website and if you do research they always tell you start up a website and go all in but most Kenyans are not always you know clicking on that website they're the most on social media they're on facebook they're on instagram they're on twitter yeah so do you feel like the alternatives is way better and people should focus on that especially during the early stages of your business yeah i feel like websites would work for certain businesses they would also not work for other businesses and so depending on whichever field you are in maybe for a tech company a website would be very important it's so very important for polycast to have a website but you also have to find different ways where you can just source people and stuff like for us we make most of our money from social media yeah especially instagram yeah um you see that is different from and i don't have you know an actual website yet yeah i feel also like your clientele your target market also sit the pace of where it should be yeah over you should be at of where you should be at because if i tell your business is so you have to know how various social media platforms and and the internet generally works you know who is and there are books about it who does how does facebook work how does instagram work how does twitter work and then once you look at all those how does snapchat work because a business for making a killing on snapchat and tick tock so how do they work and then after you've realized how do they they work then you choose one or two and you just position yourself yeah yeah and you're going to make money from it right yes uh so for people who want to keep the conversation going the guys who want to order in uh for me i got mine mine was candy yes it was it looks nude though yeah yeah it's a very nice bomb so thank you very much Stephen for this yeah and uh guys i'll give you a review on tuesday she definitely will and most most definitely how can people reach out to you and keep the conversation going make their orders um uh visit us on social media instagram at organic lip care solution just organic lip care solution on instagram blaster beauty on facebook and you can whatsapp us on zero seven nine six six twenty six twenty five repeat that again zero seven nine six six twenty six twenty five that's our whatsapp number oh i thank you very much Stephen juguna thank you very much for having us michelle yes so looking forward to uh you know applying this it's called it's called candy uh it's a moisturizing lip balm so you guys i'll give you a review next tuesday all right so thank you very much Stephen for coming through and talking about matters pertaining uh the beauty entrepreneurship uh space and matters pertaining uh the organic lip care thank you all right guys best way to pay for all right very much for this opportunity thank you as well guys keep it right here on why two five four channel it'll be right back with so oh it was about so you'll be right back with so much more but i doubt that because of our time but we'll be right back with ram to sample a couple of your comments on our social media hand of that is at y2f4 channel at michelle ashira is where you can find me across all my social and namaguca we'll be right back


Dovorim. Vkomentujem rečenju na rečenju vsega valičnega spole vsega vsega kapitačnega vsega vsega vsega vsega vsega vsega. Znajim tudi za inovo zrčima, kaj je vsega gleda za vsega, in zelo vsega in vsega in vsega vsega. Ne bolj vsega vsega, vsega in vsega in vsega in vsega in vsega. Zato ističe za to, Effective data je zelo pravda. in FTI data. If you look at the amount of FTI stock in Zambia, it's quite impressive, it has been quite impressive. So it increased from around 4 billion US dollars in 2000 to 12 billion dollars in 2012. The Bank of Zambia estimates that in 2012, 9 billion of these FTI stock was actually in the mining sector. So the Bank of Zambia obviously went into mining capital equipment to recapitalize the mines. These raises, as for many other African countries, a number of issues in terms of local content requirements and how you can use upstream linkages to actually foster local industrialization processes. South Africa is without a doubt the regional hub for mining capital equipment and for associated specialized engineering services. Mining capital equipment, as many studies have shown, including by David Kaplan who is here, is the most dynamic sector actually in the capital equipment industry. Exports, this is industry data from the South African Export Council for Capital Equipment. Exports grew from 10 million rounds in 2005 to 46 in 2014, so quite significant. If you look at the top 10 export markets have shown only the four top here, Zambia is the most important one. Now if you look at trends in the past three years, you have the Zambia, the AC, Mozambique, Zimbabwe and if you add Namibia are consistently accounting for around 50% of exports. If you look at the top 10 exports, you have other two or three regional markets, for example Botswana. So obviously there's an important story going on here. Our research questions were firstly we wanted to understand what is driving the competitiveness of South African OEMs, original equipment manufacturers, everybody knows, but just in case. The second thing we wanted to map regional linkages, so to understand how South African based OEMs strategize in terms of entering the copper belt market. And third, most importantly, what the implications are for local supplier capabilities in Zambia. So what is the impact of having regional linkages on the copper belt? Obviously there's a big policy question here of what is the difference for the copper belt of having South African based OEMs versus European OEMs or American OEMs. So we wanted to specifically focus on the regional linkages story. And obviously the policy implications, so what opportunities going forward. We focused on four product clusters because they were particularly relevant in terms of trade data and because we know from interviews with the industry association that the industry association that South Africa is particularly competitive in these clusters. So it's mineral processing, off-road special vehicles, value equipment, not only, pumps and valves and conveyor systems. I'm not going to go into depth into this discussion, but there are two market dynamics in the global value chain for mining capital equipment that we need to keep in mind. So the mining houses have been under increasing pressures to reduce the total cost of ownership which means that they don't only look at the initial price of the equipment at the sales at the initial purchase of the equipment, but they look at the whole lifespan of the equipment. So what is the duration of the lifespan of the equipment? What is the likelihood of downtime? What is the accessibility and the quality of the aftermarket services? And that has been driven by a number of reasons, but the first one has been to outsource anything that is non-core activities. Actually the mining companies are now actually going to the point where they are even outsourcing the actual extraction of copper ores in the mines. So they just want to focus basically on the financial and organizational side of the business. They've also rationalized their supply chains, so fewer suppliers, more capable, and deeper buyer-supplier cooperation. And this is why you've seen a lot of global alliances with OEMs in the past 20 years. So there have been two implications in terms of these market dynamics. The first one is that the OEMs have become the most important source of innovation in the industry right now. They do a lot of incremental innovation rather than radical breakthrough and a lot of customization to the specific characteristics of the mining sites. The second implication is that aftermarket services have become absolutely critical for the mines. And that obviously has implications for South African OEMs. So aftermarket services are absolutely critical. And for that we refer to repair, maintenance and spares. Now just to give you an idea of the size of the aftermarket services, if you look at mineral processing and pumps, the aftermarket sales can account to anything between three and four-fifth of exports to the copper belts. So it's very significant in terms of procurement values. This is a sketch of the regional value chains for mining capital equipment. I don't know if you can see it. So the mining companies in the copper belt can basically source capital equipment through the OEMs based in South Africa. The OEMs can be either South African-owned or international ones like the Sandvik, the Atlas Copco, the situation. And the OEMs based in South Africa, they do a fair amount of manufacturing, actually. It's localized in South Africa. In the full report we go into details and we actually differentiate between South African-owned OEMs and international OEMs with a basis in South Africa. But the bottom line is that the South African-owned OEMs do a lot more innovation, obviously, in the domestic. They undertake a lot of innovation domestically. So there is more control of the IP of the intellectual property, obviously, domestically. So it's quite important strategically. South Africa is also a fairly well-developed network of tier-two suppliers. There has some previous research has shown that somehow the competitiveness of the network has been eroded in the past 20 years, but I will not go into that. And then the mining companies can buy also through agents and distributors in the copper belt because we are the majority of the suppliers in the copper belt. This is what they do, most of them. They are agents and distributors. So there has been a loss of manufacturing capacities and thousands of suppliers became agents and distributors. Some of them, the so-called briefcase businessmen don't even have an office. They literally operate out of the briefcase. But others actually have established premises and they are able to provide repair and maintenance services. So we have different levels of capabilities. And then they can buy, obviously, from subsidiaries. So the OEM subsidiaries in the copper belt. An estimate in 2012 accounts for 80% of the purchases of mining capital equipment happening through the subsidiaries. Subsidiaries, in theory, will have local tier-two suppliers, but as we'll see later, this is a very weak network of suppliers. And then a lot of the, not some of the aftermarket services are done by independent, local engineering firms. The mining companies can also buy mining capital equipment through the engineering procurement construction and management firms, which are mostly South African based. And they are usually in charge of brownfield and greenfield projects. So as part of that, they also procure mining capital equipment. So what is driving the competitiveness of the South African OEMs? As I said, South African OEMs do a lot of incremental innovation. And they really, it's really a quality driven supply chain. So they compete based on quality. They are not the cheapest suppliers in the market and they have been under, obviously, as we imagine, increasing pressures from the Chinese OEMs. In particular, because the Chinese OEMs are now involved in reverse engineering. So they always, South African OEMs, this means that, literally, the innovation aspects of the business is critical because it gives them an edge compared to Chinese OEMs and also Indians increasingly. We saw a lot of lateral migrations of technologies, which we think it's very important. And there is some research on this, and it's an issue that deserves more study. A lot of the OEMs have been involved, so come from other sectors, or they've moved into other sectors, including electricity, the food industry, infrastructure, construction, forestry, sugar, transport and even defense. We confirm what other studies have found, which is that these EPCM firms actually move into the region with the taping into the South African supply chain. So they actually move in the copper belt using to a large extent South African suppliers. This is obviously problematic for Zambia because the Zambian suppliers are completely cut out of greenfield and brownfield projects. And this is also expected, obviously, in terms of local supplier capabilities, but there is also an issue of freely, the ability of Zambian firms to market their products or be involved in this project. So these are really deals concluded between the copper belt mines, the mines in the copper belt and the EPCM firms here in cutting out the local suppliers. South African OEMs have a particular issue, which is very important. Their expansion in the region has been delayed compared to international OEMs. They started later and they actually struggled to set up a value-added presence in the copper belt. So what happens is that an Atlas Copco has been in Zambia maybe from 1940 and a lot of South African own OEMs are actually struggling now even if they have a significant market in the copper belt, they actually struggle to set up a presence there. That this aspect of the aftermarket services will be very important for these businesses because the South African market has been pretty stagnant. So the major opportunities in the South African market for some aftermarket services, automation, mechanization of extraction activities and low profile and extra low profile equipment. Setting up a presence in the copper belt is not easy because of the sunk cost and because of the overheads. So it has been estimated that just for rent and stuff companies will have to spend around $20,000 a month and that's without keeping stock. One of the OEMs reported holding stock worth $5 million in the premises. So for smaller South African OEMs these are basic, significant expenses and obviously holding stock is the whole point of having aftermarket services in the copper belt because you have to be able to supply within very short lead times. The stock aspect is absolutely critical. Just one last thing. The engineering firms reported that one of the reasons why they also supply regional linkages. South African OEMs are increasingly projected towards the region. The region is particularly important for the mineral processing OEMs. Up to 95% of their sales in the past three years has gone to the region. So for some of them, literally the region is a lifeline. Zambia is also a subregional hub for the whole of Central Africa and in particular for the DRC copper belt. And this is very important in terms of the DRC finally offering some larger economies of scale added activities in the Zambian copper belt. We've noticed two patterns in terms of the internationalization strategies of the South African OEMs in the region. The first one is a lot of trial and errors. So OEMs reported having, trying with partnerships with international OEMs in the copper belt, trying to look for local partners in Zambia, et cetera, and a lot of failure. A lot of it has to do with trust, a lot with supplier capabilities that are different issues. There is also a progression usually from direct exports to the establishment of sole distributorships or agency agreements and for the ones who can afford it joint subsidiaries. So there seems to be really a trade-off obviously between the risks involved in externalizing after market services and the cost of internalizing these services. There is also struggle on the Zambian side in finding South African partners. The Zambian agents actually do want to partner with South African OEMs because they feel that would increase their competitiveness and their capabilities in the copper belt, but there is really a mismatch between the two sides. Nature of linkages. So what we find is as expected actually, it was not very surprising. There is a huge differences between South African OEMs and the copper belt by setting up subsidiaries and the ones who have joint ventures sole distributorship agreements or agreements with local agents. The subsidiaries provide lots of support. The OEMs provide lots of support to their subsidiaries through backup services, for example when there are very skills-intensive repair services that will fly in staff from South Africa. There is access to credit and in terms of joint promotion obviously the marketing aspect. The training one we wanted to zoom in. Most of it is done in house and in South Africa, but some of the OEMs actually do some training abroad. Very little support for local institutes. In terms of local subcontracting there is very little. Whether the OEMs work with the local partners or they have subsidiaries there is very local subcontracting between 10 and 30% of the value of the local sales and it's mostly made small metal fabrication it's nothing particularly value added. There is no R&D budget as expected in the copper belt very little in terms of product development. This is a critical question. We said there is a lot of customization so we know that South African OEMs actually travel a lot to the copper belt to customize the equipment to the mining specifications. We ask them whether at least at this stage they will involve the local staff at all and most of them have said no. So basically the local staff is just involved in the logistics of it but there is very little in terms of knowledge transfer. In terms of regional constraints we identified there is a pletora of problems at the national level but we focused on the regional ones here. The first one is that there are conflicting local content policies. So you have a situation where for example the engineering firms are supplying locally also because of the local content requirements of the export credit and insurance company of the DTI. So obviously the South Africa has local content requirements and increasing reclashing with local content requirements in the copper belt and this is not consistent obviously with the regional strategies of the OEMs. The second issue is that the DRC offers a very important market but it's a very risky environment so OEMs don't want to set up a presence there they are happy to set up a presence in the Zambian copper belt but the border between Zambian and DRC is very problematic so it's making supplying DRC mines very efficient. So this is the last slide, I promise. So there are two key policy implications. What we are saying is that basically these regional linkages offer an opportunity to see the Zambian copper belt not only as an export market but to see this regional value chain as an opportunity for cooperation in industrial development. We think there should be two pillars of this strategy as regional cooperation strategy. The first one is really build a truly regional market between Zambian and DRC and that is a whole of issues obviously between with the Zambian and DRC border and what can be done to make actually that border smoother including participation of the DRC for example in a bilateral or the Sadek FTA. Zambian is also considering a bilateral and the last one is in terms of leverage linkages between the South African OEMs and the copper belt suppliers. So we have seen that there are linkages we think that the current initiatives that the DTI and the Minister of Commerce Trade and Industry in Zambia are looking at in terms of clusters development should take into account these regional dynamics and that means for example that for the South African clusters in to the copper belt this process should be facilitated and should be facilitated for value added activities and that would be at the advantage of the South African OEMs because they would become more competitive versus the international OEMs but there would be also advantages for the Zambian in terms of employment and skills development. On the Zambian side this has to be part of a proper industrialization strategy and skills it's one of the critical issues they have to look at as well as opportunity for subcontracting that are now very low and we think this is an area where actually the two governments should cooperate and complement the regional strategies implemented by the privates. Thank you.


Hey you guys, my name is Brittany and welcome back to my YouTube channel. You guys in today's video I am going to share with you all of my homeschooling workbooks that I have loved and enjoyed over The years so you guys we are in curriculum season. It is here It is upon us and I've already shared my fifth and my pre-k curriculum Videos are ready for you on my channel. So if you want to watch those, I will link those down below However, I still feel like it's important to highlight Some of those workbooks that I do pull out and I use as far as supplements and just like workbooks that I just love Having on hand. So I have a big stack you guys Right here of all of my favorite workbooks that I want to share with you guys I'm actually going to share the workbooks with you guys from my younger grades all the way up I was really inspired to make this video after watching Rachel from seven and all share homeschooling workbook video and Because we are on curriculum season I just definitely wanted to share these resources with you guys because I don't solely rely on my Curriculum to give me everything that I need sometimes Especially if you have an area that's a little bit weaker for your student or an area that you know that You're not going to do as much picking up workbooks like these are great opportunities to still Be advancing and learning in those particular subjects So let's go ahead and start off with like my favorite pre-school pre-k workbooks that I have had experience with that I know I'm going to use again with my younger daughter So lay as my middle daughter she is for and right now these are her favorite workbooks Which are these huge Melissa and Doug activity pads. So I have the alphabet activity pad I have the numbers activity pad We're actually like halfway through the finish in this one and we have completely finished this one Which is the colors and shape activity pad. So I got this whole set you guys on sale for I think $13 I'm not too sure what the price is right now on Amazon, but these huge activity pads They're filled with like stickers and it's opportunities for your kiddos the color if they like the color They have tracing and you know, they're so much fun and she loves these. I don't even have to tell her Oh, yeah, come on late. Let's do preschool.  So these have definitely been like a win as far as like pre-school Workbook supplemental type of practice sheets for my kiddos. So she's really enjoyed these Some other ones that Leia has enjoyed has been the JDA series you guys We are actually still working on this JDA series. I have the preschool writing I have the preschool literacy and I also have the preschool math and you guys these workbooks are just simple black and white Workbooks that she can just go on as she's learning all of these different skills Um, I actually have both the PDF and the physical copies of these Worksheets just because I wanted her to have an opportunity to do them more than once and again I do have a younger kiddo coming up that I can use these JDA workbooks for Like I said before they are black and white Simple workbooks, but because both of my girls love the color seeing things in black and white is the opportunity for them to You know color a little bit more use their markers and crayons and everything like that So I really have been enjoying in the JDA series Especially this preschool literacy series because it really has helped her out a lot with like recognizing those uppercase and lowercase letters Recognizing the start and the ending sounds so these have been really fun So this is actually going to be our second time going through the preschool literacy Book, but um, you guys is definitely has been a great supplement easy fast. I love these workbooks for the preschool age Now let's go ahead and get on into Workbooks that I have been using for Brielle Um, I have been using workbooks with Brielle you guys ever since she has been in public school She has been in public school from K through second half of second And every summer I will always grab a workbook for us to work on throughout the summer One of my favorite workbooks to use. I actually don't have it right now Has been brain quest. I have used brain quest K through three with her and they have been so much fun I love the color in brain quest workbooks. Um, I love that. They're always so affordable I mean you guys I was picking those workbooks up from like Target or Costco's for like five bucks and Even throughout the school year I was pulling out pages within the workbooks using with Brielle, especially for like the math and things like that Um, I never wanted her to be behind when she was in school within math or reading Those are like the two areas that I would primary focus on when we were working on those workbooks this summer But I love brain quest workbooks. Um, my second favorite workbooks for Brielle has been Scholastics and I have a lot of these scholastic workbooks. You guys I actually taught Brielle multiplication and division by using this cheapy $3 Scholastic workbooks. So the ones that I have that are my favorite are the reading test and I use these right here for Reading comprehension for her. So we have completed four. We're almost completed with five and we're going to be using the workbook for the reading test in Next school year for her. So I love these you guys. They're so simple.  These are just quick and easy. I typically give her one test on Friday with these So, um, they're really really simple She gets the chance to go over a vocabulary and she gets the chance to go over different styles of Um writing where she has to do the comprehension So sometimes they give her like a letter and she has to answer comprehension questions Sometimes it could be math skills or history. So I really love these simple reading tests. Um, again, I usually do these on Fridays and They have been very effective in getting her prepared for standardized testing. I live in a city, Georgia I have to test my daughter. I'm not going to lie you guys I really wish I lived in a state where I didn't have to test but I mean it is what it is Um, but uh, we do standardized testing and this is just an easy way for me to prep her and prepare her for it. So, um, These oh my gosh, you guys, I love them and they're typically like 399 599 Another one of the scholastic workbooks that I really loved and I've used these for her third and For the summertime we use these we started using the writing one during our school year But we put it down But my favorite one has been this grammar workbook You guys I love how it takes one part of speech and you go over it throughout the week So for one week you might just go over the types of sentences and then at the end Of that week you're done then you go over the next part of speech So these you guys are great for like additional practice. So if she is having a problem with a grammar concept Over the summer we can like use these simple workbooks. The writing workbook is just as good. I really really enjoy it It really breaks down writing for the kids in a simple way and this is just fun Simple practice, especially over the summer or if it's an area where she does the extra practice when it comes to writing So these scholastic workbooks you guys have been my favorite all-time favorite cheap affordable. They get the job done Now as I started my homeschooling journey you guys I you know, I fell into the trap Of explode the code and I definitely have to say I have enjoyed explode the code because my daughter She started off our homeschooling year in third grade. Um, she really didn't need the beginner explode the codes But as we were studying prefixes and suffixes last year I utilized this explode the code book 8 for that skill and it was amazing. My daughter. She loved it We still have a couple of pages in here. She hasn't finished So if I want to pick this baby back up for the summertime for like extra practice I definitely can but I have really been enjoying the explode the code series Again, it's just quick simple independent fast effective work Now as I'm going into uh, I guess starting from the beginning with my younger two I have actually just started the explode the code series from the beginning with the Get ready for the code series for my youngest one And I'm going to tell you guys this get ready or for the code has been so stinking cute I really enjoyed this series and um, hopefully I can go through the a b and c book with my daughter This upcoming school year for her pre-k year We already has have dabbled into this one and it has been so much fun I actually was able to get this explode the code the a b and c Print it off from my membership from scribe So if you have a scribe membership just go under documents and type in get ready for the code and it's there for you to print So, um, I didn't even have to purchase these. I just had to print them from home So I have been enjoying starting from the beginning now I see you guys why so many people do love explode the code and it's definitely like One of my top favorites as far as like homeschooling workbook supplements Now some other workbooks that I love and I have loved have been the evanmore workbooks you guys, um I loved evanmore spelling when we started off with this one. It really has been amazing evanmore has awesome workbooks So we have utilized their spelling workbook and one of the newer workbooks that's going to be new for us Is going to be this science workbook I actually picked up this evanmore science workbook because in our upcoming school year We are going to have like a heavier history year So I really just wanted to have like a simple workbook for my daughter to continue to Do science but do it more independently. So that is why I picked up this cheapy five dollar evanmore workbook In this particular one. She is going to be going over organisms and ecosystems Earth systems space systems structures and properties of matter So it's really an opportunity for her to get some science in Because again, like I said, we're having a heavier history year And I feel like that's like the best way to utilize these workbooks Is if you know that one of your subject is going to take the back burner Buy a simple workbook and your kids will still be able to get that knowledge and gain that knowledge throughout that year in a more simpler independent way So, um, this is going to be my first time using a skill sharpeners workbook However, I have used the spelling workbooks and I have loved them from evanmore Now, um, some more workbooks that I have been loving has been from shell education You guys has been 180 days of spelling and word study Now I have a video on my channel where I have compared evanmore spelling to 180 days of spelling And I love them both this spelling curriculum. It's just um has word study with it It's not just the spelling words and I have loved it So brielle is actually working through five and we're going to be using this book right here for her next school year And I love it. It's just a really simple way for her to you know, get that spelling get that vocabulary in all in one And it really has been great. So these are some more of my favorite workbooks. I haven't tried any of the 180 day series I know they have like reading social studies math Science they have a lot in this 180 day series I am only familiar with the word study, but if I do find that I need to supplement With another subject in a future, I might pick up one of the 180 day books as well So 180 days have definitely been a great workbook in our home school Now the last workbook that I'm going to share you is a new one I actually haven't uh tried it yet. We're going to be using it for this upcoming school year Which is wordly wise you guys I have heard about wordly wise so much On youtube on the internet everywhere. Everyone talks about wordly wise how it is such a good and great solid Vocabulary curriculum. So this is going to be my first time utilizing this in our home school Vocabulary is actually one of the areas that I need to beef up with my daughter When it comes to our homeschooling journey I feel like especially when they get into middle school like um not middle school, but um upper elementary is like when You really start to beef up that vocabulary. So I really think that wordly wise is going to be great for us Um, but so far you guys it's just a simple Workbook when it comes to vocabulary. Hopefully she loves it But this is just another one of those supplements that I am adding into my home school So you guys I really hope you enjoyed like this short simple video as I'm showing you guys some of my favorite homeschooling Workbooks and supplements that I have used over the years Hopefully hopefully this video will like inspire you to uh grab some workbooks Especially where you need to fill in those gaps with your main curriculum. So this is everything You guys, thank you so much for watching today's video. I hope you enjoy as always. I will see everybody in my next one Bye


What's up everybody, Jason here for Jazby's Case Breaks.com. This is another filler here that helps fill up contenders picking team number two. We're giving away 10 teams in 22, 23 pinning contenders basketball one-pack break round on teams number two. And again guys, we had an early bird giveaway. So if you bought one of the first 20 spots, you had a chance to win a free spot. We're giving away three early bird spots. We only sold 27 spots. Then guys, we'll do the break. After the break, we'll gather up all the names and we'll give away 10 teams in the break. Here are the 10 teams right here guys. So top 10 get a team including the Thunder at number one, which is a $300 hit right there. $300 team I should say. But first we're gonna do the break. So let's do that first really quick guys. So we're gonna use the same dice roller for the early bird giveaway spots and the names and teams for the pack filner. So let's quickly do that here guys. Let's dice roll it, boom. Two and a five, seven times, top three get spots. One, two, three, four, five, six, seven. Boom, seven, seven, top three is Matthew, Chad and Chad. So you guys got extra spots to increase your chances of winning. And we'll put a little plus sign there for you guys. Now that completes 30. We'll use the same dice roller seven times on the names and teams for the pack break. One, two, three, four, five, six and seven. Seven times, Chad, done a chat at the bottom there. Seven, one, two, three, four, five, six, seven. Seven times, seven, seven. Mavericks done with the T-wills. All right guys, so stick to what you got, of course. Also, I forgot to put in the names here. So that's the original list. And then these are the three that were added. Perfect. All right guys, so stick to what you got. Let's do the pack filer really quick. If this is an autograph, that means we have one more auto hiding in a pack. If not, then we have two autographs hiding in the next pack. I'm not too sure though. I just grabbed the random one. We got a Caleb Hustain, that is a variation ticket. Benedict Mather, lottery ticket. And yeah, so the next couple fillers, if we do any guys with contenders, at least like three and four, will be potentially an autograph in those pack fillers. We didn't get any autos in the first two. So there you go. The switch scene's now guys. And of course, let's do the randomize. Also Chad, you got that Benedict Mather which is big time player there too. Nice little lottery ticket. All right, here we go. Dice Roller here, customer names, number top 10, get a team. Here we go, roll it. It is another seven, good Lord. Seven times. Two and a five, seven times. Here we go. One, two, three, four, five, six. And seventh and final time. Seven times. You guys are in in the top 10, but I want to see who gets the number one. Chad, there you go. You guys got the thunder buddy, there you go. So that is a $300 team right there. Best team definitely in this filler. So boom. So this is how it matched up. Chad, you get the thunder and the leakers were also a hundred bucks. Spurs are nice right there for Matthew, Celtics, Heats, Knicks, Chad, your free spot is Nats, Steve, Clippers, or Stephen Chad Sungs, and then James Raptors. So there you go guys. The rest of you guys unfortunately not in, but coming up next guys is to break good luck everybody.


QuickBooks Online 2024. Adjusting entry and reversing entry reports. Get ready and some coffee because we're off to a quick start with QuickBooks Online 2024. Here we are in our get great guitars 2024 QuickBooks Online sample company file. We set up in a prior presentation opening the major financial statement reports as done every time the reports on the left were right-clicking on that balance sheet in the favorites to open a link in a new tab right-clicking the P&L the profit loss the income statement right-clicking the trustee TB to open a link in a new tab tabbing to the right hamburger close it for crying out loud change the range 010124 tab 02 let's go to 03 3124 tab dropping down for the month and then run it and then we'll tab to the right to the right repeating the process hamburger close it range change it 010124 tab 02 2029 no 03 3124 and then month by month run it one more time on the trustee TB tab closing up the hamburger changing the range in 010124 tab 03 3124 tab dropping it down for the month and then running it again for the refreshment of it let's go back to the balance sheet and we're now going to be looking at the reports that we have generated after having done both the adjusting entries and the reversing entries remembering the adjusting entries are there to make the financial statements as close to the accounting basis being used typically an accrual basis but can also use the same concept for cash basis tax basis so you can get the books as close to that method as possible as of the cutoff date which for us was February 29th the end of February we then do the reversing entries only for those journal entries that aren't permanent differences where we need reversing entries so that we can get the financial statements correct as of the cutoff for external reporting purposes taxes management management's internal but taxes and then like bank loans and investors and what not and then we reverse it so that we don't mess up the internal bookkeeping process noting that what we want to have is a clean separation of duty neither the bookkeeping nor the adjusting process being like correct or incorrect meaning we're not correcting errors we're setting up a system designed specifically to to have it work as smoothly as possible and as easily as possible on the bookkeeping data input and then shoring it up as necessary with the adjusting entries okay so that being the general process we now want to take a quick recap of the reports that we have constructed possibly reviewing one more time the adjusting entries noting that sometimes the adjusting entries might be done by say an accountant directly to the QuickBooks file but sometimes that's not the case sometimes we don't want to like actually do the journal entries in QuickBooks possibly maybe you want to do that the journal entries outside of QuickBooks so traditionally a lot of times what would happen and the old days before you actually had access to the QuickBooks file at the CPA firm is that we would get the actual reports and then plug them into Excel or some other kind of software do the adjusting entries and then decide how we're going to put them which adjusting entries need to be put back into the QuickBooks file right so you still might have similar processes at this point in time in other words if I'm taking the books and I'm adjusting it so that I can then prepare the tax return on a tax basis then I might take the books as they are within QuickBooks do my adjustments outside of QuickBooks in Excel or something like that to prepare the tax return and then the question is what needs to be entered into QuickBooks right so just the workflow could change depending on again what your setup is between the bookkeeping process and your accountant or your tax preparer so you want to be clear these days we have a benefit of being able to give the tax preparer the actual books tip typically because most tax preparers in CPA firms have access to QuickBooks that's why QuickBooks is a great tool to use because you can give access first a word from our sponsor yeah actually we're sponsoring ourselves on this one because apparently the merchandisers they don't want to be seen with us but but that's 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subscribing to our website at accounting instruction dot com or accounting instruction dot think of it dot com but but you still might end up in a situation where you're saying I want to communicate between myself and the accounting department the actual journal entries that were entered right so to do that we're generally going to run a report let's go to the first tab over here and let's go and close up the hand bogey I'll scroll all the way down to the report so we can find it but you probably would be easier just to type it in as a journal report so here's the journal report if I go into the journal report that's the report that shows everything in journal entry format so so notice that it gives all the transactions check transactions deposit transactions so on invoices and whatnot as a journal entry let's hit the drop down and make the date for a custom date for the cutoff date where we made all of our adjusting entries 0 to 29 to 4 to 0 to 29 to 24 now by restricting the date then I'm going to eliminate a lot of the other activity just by doing that so these are the transactions only that happened on that date noting that the adjusting entries we can identify them by a few specific things one being they all happen on the same day to 29 24 in this case the end of the month if they were year and adjusting entries they would all be as of December 31st 2024 to we're going to put in the memo that it's an adjusting entry and three they're all going to be the transaction type of journal entries so you can see we have other stuff happening here but a lot of it are other kinds of forms so we can then further filter this report by transaction type just looking for the journal entries so let's go ahead and do that filter and select the drop down and then we want the transaction type of equaling the journal entries I'll just type in journal and there we have it so now this trims it down to basically just the adjusting entries although we still might have a couple other ones in there we can see the description here adjusting entries so everything here this one is not an adjusting entry so tax adjusting it says adjustment oh what happened there caposso tax taxed adjustment so I don't believe this one was an adjusting entry so I'd still like to clean that one out so how can we clean that one out well the easiest thing is I can export it to excel from here and just delete it right so if I'm going to give this information to my book the bookkeeper or something I'm if I'm communicating the adjustments that we made this is a way that we can filter down the adjustments that basically we made and we can do the one last filter by exporting to excel so export it to excel open it up and then we'll say let's do that last bit open it up here I'll edit it and then we can do whatever we want to do on the editing typically I'll I'll go to the to the tab to the right back to the tab to the left it's a long report so it's on multiple pages as you can see so then I might want to go to the layout and make it landscape orientation landscape that's going to help it out a little bit then I can remove a lot of the stuff that I might not need the transaction type looks like it's a very long ID I might not need that cell at all that at all but I'll just minimize it here to make it smaller you've got the date that's going to be necessary all the journal entries let's see if I can minimize that a bit and maybe wrap the headers so I'll take these headers and maybe go to the home tab and wrap them and so this transaction ID maybe I just call it ID so it's not so long and then we could we could say okay the account number this one doesn't have anything in it so I'll remove that now to remove something I'm going to see how this cell up top is has a merged I'm going to unmerge it and unmerge this one that's in the home tab alignment and unmerge so I so now I can delete stuff more easily there's no names in any of these so I'm just gonna say alright let's take that whole field and delete it account I don't need anything in there let's take that whole field delete it and then this this one let's delete this bit down below I don't need that delete that and then then this one I can make a lot smaller by wrapping the text so maybe I select the whole thing home tab alignment wrap the text so it's wrapped and then I can make this a lot smaller and just make sure that the text is I could double I can select this whole thing and then double click on it and it'll double click on anything inside I know I'm doing this fast but this is more Excel than anything else and then I'm gonna take these two and if I make these a little bit smaller it should be enough right boom boom almost there come on come on oh there it is so now we're in the line we're inside the line alright so let's go ahead and we could make borders around now I made it too small see now I did it too small but let's go to the home tab font group and make some borders around it I'll make these two a little bit larger and a little bit larger okay now it's too long so I'll make this one a little smaller and so now it fits on one page alright so let's just recap some of these so if we if we look through it we have the journal entry to adjust taxed adjustment payroll liability so this I'm gonna delete I don't need this one all together so I'm gonna remove that one boom boom boom and just right click and delete it so these are our adjusting entries so we have the interest payable and the interest expense this was an adjusting entry to account for that 15 days of interest which is going to be paid in March but which had been accrued in before the cutoff date in February this one just will just recap them quickly this one was the accounts receivable this was for an invoice that was entered in March but for which the work was done in February therefore the revenue should have been pulled back to February so we increased the revenue with a credit counts receivable went up we also recorded the sales tack the cost of goods sold and the inventory and then we had the insurance so the insurance was an adjusting entry to represent the portion of the insurance that had been consumed in the current month and the portion that is going to be for for that was prepaid because we paid for a year's worth of insurance and we expense it as time passes and then we've got the depreciation adjusting entries representing the expensing of the cost of the large pieces of equipment that we purchased over time in accordance with some depreciation method such as straight line or double declining balance and we did that according to our subsidiary ledgers which are actually came from the tax return this is the same thing for depreciation for another type of fixed asset and then we had the accounts receivable and unearned revenue unearned revenue being for revenue that we get that we or money that we got from customers in advance of doing the work and then we had to record this negative receivable because that's the easiest thing to do in the bookkeeping side this one being the journal entry that's a little bit different than the book problem for unearned revenue because we have a little bit different of a situation or issue with software oftentimes given the fact that we need to track not only the journal entries but the sub ledger accounts and the the internal information for the customer center and then we had the adjusting entry for the loan payable breaking out the short term and long term portion now we've reversed some of these so let's go ahead and do the same thing but up up the day to one three right so now we're on one three and so these are all the reversing entries so let's go ahead and export these and these are just the ones that we had to reverse and see which ones we did reverse and recap which ones we did not reverse right so I'm going to go in and say let's say export this one to excel as well I'm going to open it up but then I'm going to going to take take it and put it into the other worksheet so what I'm going to do is I'm going to say I'm going to right click on this tab below move or copy and then you can see in this drop down it we have the other one open so I'm going to open the other one and then move the sheet to it so we'll move it I'll pull it to the right we can name these so this was the adjusting entry ADJ and this is reversing entry I'll just put a read and then I can format this in a similar fashion so I'll go to the tab to the right tab to the left and I'm going to say I just call this the ID I don't even think I really need the ID we don't need no stinking ID ID ID we don't need okay I don't know this is going to be let's unwrap this let's unwrap oh wait let's wrap let's unmerge and then unmerge okay and then we're gonna say transaction type I can make this a little smaller and these I want to wrap so wrap I'm wrapping we're gonna wrap it dog we're wrapping homie I don't know okay sorry about that let's keep on going we're gonna say hold on I hit my I hit my soundboard that was the wrong sound I didn't mean to do that that's gonna be the evil tax the government stealing our money that's good but anyway I'll delete this and then the reversing entry so they're all reversing entries we don't need the account so we're gonna take that and right-click and delete that and then I'm gonna take this whole column and wrap it home tab font group and wrap the text and then we'll pull it in to something maybe around there and then I'll take this whole thing and expand it by double-clicking in between the cells to make it long enough for the descriptions and then everything looks like it's working well okay so let's review these again for the well let me put some borders around it too that's a put some borders around it because that's what we did last time and then this bottom bit I don't need that get this out of here get out of here delete that okay so then we can say so this first interest one we entered in an accrual entry for the interest and then we reversed it as of the first day of the next period so that's just basically a timing difference that we had we reversed it so that the the payable doesn't get in the way of the bookkeeper in their normal accounting as they as they record the entry according to the amortization table and then we had the accounts receivable the invoice that was entered in March but for which the work was done in February this one then we pulled into February with a journal entry that mirrors the transaction that happens when you do an invoice we have to reverse that one for sure because if we don't it would double record the the entry as of the date of the original invoice so we reversed it notice all reversing entries happened on the first day of the following period we're not trying to get fancy and say I'm gonna reverse it in in the middle of the month when the actual invoice was created why because that'll make it more difficult to determine which entries are reversing entries we know which entries are reversing entries because they all happened the day after the cutoff because we applied reversing entry to all of them and because they're all journal entry type forms okay and then we had the journal entry for the prepaid insurance I mean yeah this was the adjusting entry this one doesn't have a reversing entry because if we're doing the insurance properly we typically put it on the books as an asset and then we depreciate it using the adjusting entry as time passes and that's a permanent difference so we don't need to do any reversal for that similarly with the accumulated depreciation and depreciation expense this is a permanent difference it's really similar to the prepaid insurance we put the stuff on the books as an asset because it's an investment we prepaid for it it's going to benefit multiple periods in the future and then we basically expense it as time passes this time instead of reducing the actual account of furniture and fixture or the property plants and equipment account we make another account accumulated depreciation to note the fact that it's an estimate in essence and so we have no reversing entry for those and then this one is the accounts receivable and unearned revenue now this one's a little bit different than what we did with a book problem in a book problem it would be a permanent difference that you would not have a reversing entry for in other words if you were a newspaper salesman and you're selling the years you're still hawking the legacy the lame lame legacy leap media newspapers which is kind of an it's kind of an evil business these days I hate to say it you should probably look for better work do some good in the world if you could but in any case if if if that was the case then we would have unearned revenue every time we make a sale it would be going up and up and up and then and then we would basically be recording on a periodic basis with the adjusting entries how much revenue has actually been consumed reducing the liability of unearned revenue recording the income as it happens now this is something again with quick book software you might not need to do like with adjusting entries you might be able to automate the system basically saying I'm going to put if that was your your business model and this would be the same for like computer applications which are doing good things that you know not all subscription models are as evil as the legacy media you know but if you would so then you could have like you could get all of your your revenue when it comes in and then basically try to automate the invoices to apply against it possibly with with with memorized transactions I think we have a section or course on that if you wanted to take a look at that specialized area in more detail our issue here is different though and that is that the accounts receivable makes more sense a lot of times to have a negative receivable per customer why because there's a sub ledger for the accounts receivable and when we track the customer center internally it's tied to the accounts receivable not to some other liability account called unearned revenue so we end up with these negative receivables which is not something we typically worry about with book problems because we don't have that issue of trying of having to tie out the sub ledger in the same way we're just looking at debits and credits so in this case what we did is we did an adjusting entry to deal with those negative receivables increasing the receivable increase in the liability periodically which is only a balance sheet type of activity something you might not even have to do if you're doing it for taxes for small business reporting on a schedule C because the schedule C is basically the income statement so you might not have to do this adjustment just for that purpose you would need to do it for external reporting to the bank or to the or something like that so then for this one we had to reverse it then so we had to reverse it back so that we can show that liability and then and then undo the liability so it doesn't mess up the bookkeeper on their end so that so just want to reiterate the unearned revenue scenario we ran here is very common for software but different than the common scenario you see with the book which is often reflecting the same textbook problems that you know they're back in the days when the legacy media was actually saying truth stuff so that so if so there's there's living in the past man so it anyways then we have the next one which is the loan payable breaking out the current and long-term portion of the loan payable and so this is going to be something that we're going to reverse because we want it to have all of the loan in one account for internal bookkeeping but break it out so that we can see it in two accounts for external bookkeeping so therefore after we broke it out which is again a transaction you might only need to do if you're reporting something other than taxes for like a schedule C this is a another transaction balance sheet to balance sheet doesn't have the income statement impacted therefore if your small business reporting on a schedule C which is equivalent in essence basically to the income statement you might not need this one you would need it for external reporting reporting to like the bank to try to get a loan or to investors or something like that then we would reverse it to get everything back into one account per loan so that's the general the general overview if we look at our QuickBooks file if your trial balance here was in balance before we went through the adjusting entry section then and all of your adjusting entries tie out to our adjusting entries your ending balance here should match if and if your ending balance in February ties out to what we have here and all of your reversing entries match our reversing entries then your Indian balance as of the next month following the cutoff March should match our numbers so here's where we ended off on the trustee TB the trustee trial balance