You create content using a variety of digital assets. If so, it's likely that they live in multiple places in different formats, or they're in Google Drive or SharePoint or Dropbox or Box or other platforms. And it's also likely you spend a lot of time hunting, pecking and wrangling these digital assets. Hello and welcome to this CUBE conversation, the next in our startup stories program where we feature innovative software startups, their missions, their visions, founding and fundraising journeys, and the value that they bring to customers. My name is Dave Vellante and I'm pleased to welcome Jessica Story, who's the CEO of Stockpress and Ian Parks, the Chief Revenue Officer of Stockpress. They're a startup in the digital asset management space is trying to make it easier for digital teams to get work done. Folks, welcome to the CUBE, good to see you. Thanks so much for having us. Yeah, thanks, Dave. Yeah, you bet. All right, let's start with your founding story. Where did it begin? Why did you start the company? Yeah, I can take that one. It's a fun story. So we actually have two other co-founding partners, Bart and Camilla, and the four of us ran a digital agency for about 12 years together. And we were consistently coming up against the same problem where we worked with freelancers and project-based teams and had lots of clients that were spread across the world, really. And the one problem we always had was sharing files with them, receiving files from them, but most importantly, having one place where they could access all the stuff that we made for them whenever they wanted it. We were handling Dropbox links, Google Drive, we transfer links, and believe it or not, even back then, hard drives being kind of mailed around to everybody. And so at the same time, we were actually customizing an open-source digital asset management system for a client. And one of the things we looked at was, why are these tools categorizing, tagging your files not available in some of these other platforms? So we actually decided to build Stockpress for ourselves as a solution to an issue we were dealing with, which we did. So we built it on kind of nights and weekends and started putting all of our customers into the tool. And pretty quickly, everybody started turning around and going, well, what is this? Are we able to use it? Can we add our files to it? And pretty quickly, Ian turned around and said, hey, guys, I think we have a business here. And we started kind of working on it more full-time. And yeah, trying to solve that problem that everybody has is how they can keep all their files and all their digital assets in one place and make sure everyone can access them when they need it in an easy to use way. Interesting. So you guys weren't software people, a digital agency, but the software's eating the world kind of thing. And believe me, we do know, because we bring hard disk drives to every show that we do because video files are huge. But what specifically was it that led you to believe that the world needed a company to focus on the solution? Sounds like you were looking at open source tools. I presume you looked at other tools. You just couldn't find anything? Yeah, so the main thing for us was that user license fee. So because we had so many people distributed around the world that we worked with and we had different project teams that were doing specific things for different clients, we couldn't really add everybody into the one workspace without incurring additional costs. And we would add people to tools that we were using. And then when the project was over, we'd remove them and then six months down the line, someone would say, hey, I really need to grab that asset. And we'd go, okay, we got to add them and incur another cost again. So one of the big things that we tried to do or we are doing with Stockpress is we have an unlimited user model. So we encourage you to put everybody that you're working with into the platform so that everybody can work kind of collaboratively together. And we think that was definitely something missing from all the tools that we were looking at at the time. And the same thing goes for kind of the idea of categorizing and tagging your files. Google Drive is in Dropbox and Box. They're not bad platforms. They work for some people and some teams, but for us, it just didn't really do the job that we needed and we ended up with kind of a mess and certain cases, people coming into our tools and deleting things they weren't supposed to and there was a lot of that going on. Right, so Ian, Jessica mentioned, you said, hey, I think we have something here. It's always an exciting time.  You think you catch lightning in a bottle so your heart starts beating faster. So where did you go from there? How did you initially fund the company? Did you sort of take the cash flow from the existing company to seed it? When did you go out for venture funding? Explain that for our audience. Yeah, sure. And I think what Jess is trying to say there is actually it's my fault. So we joke about that a lot. Yeah, the funding of the company, I suppose, is quite a balanced one. It's one of started in kind of blood, sweat and tears, which I think is no bad thing that that's where these things start. I think there was a large element of throughout the years we've worked with lots of different businesses. We've seen lots of people come up with some great ideas but then subsequently try and sell those ideas. And I think for us it was about making sure that we were selling a product as early on as possible. So we spent a lot of time actually kind of working out our own needs, speaking to those early customers just to kind of find out whether our kind of assumptions were accurate. And then we're really kind of working on the product weekends and evenings, as Jess said. So we did do that kind of period of graft where we were running a full-time business. We were building the product weekends and evenings. We had that kind of magical period of time that not all startups get where we were able to use the product for ourselves. We were able to use the product with our customers and really try and iron out some of those kinks before we'd kind of gone out to the world and really started marketing. I think we probably all got to the point where we looked at each other at the end of 2021 and the bags under our eyes were getting bigger and it was just more of a struggle to be able to maintain the kind of the effort that the overall kind of quality of what we're doing. And I think at that point, we'd tested out some pretty big assumptions around volume of usage on the platform, the types of accounts that had started to use it. And I think that was the moment we decided that actually it was time to wind the agency down and go full-time with Stockpress, which we did at the end of 2021 and went into 2022 actually with some funding from Stage 2 Capital and Alumni Ventures. And really that capital came into the business to kind of further some assumptions that we'd already had around whether we could be a product-led business, just how much we could go down the freemium route. And actually it just enabled us to spend the start of 2022 testing out some of those assumptions, seeing what was right, seeing what we still needed to work on and just keep moving the business forwards. It was our first opportunity to have some fuel in the tank to be able to actually go out and market. Most of our business had come through referrals up until that point. But I think the really important part of going out and getting funding at that point was we were very much in that kind of startup mentality still. So it was value every dollar, make sure that we're only spending on the things that we really need to spend to move the needle and run those experimentations that we were doing with our marketing. But it wasn't about kind of going out and bringing in a huge team. It was about just getting close to those customers that we had, trying to start that kind of repeatable motion. And it was very much the rest of 22 was spent doing that, was working out what's working, what's not. Where can we kind of start to index more on those things that are working? And that actually put us in a position very recently actually, of closing out a seed round, which we happily closed out a couple of weeks ago. And this is really now about that kind of growth phase, where those assumptions that we've seen working, we can kind of double down on. Definitely still got some experimentation to do. It's never finished. But the money we've raised this time round means that we can go out and get some more people on the bus and hopefully push forwards in what we're doing, because we see a big opportunity ahead of us. Was it hard to convince the investors that it was a viable opportunity because you were really a services company and sort of transitioning? Or did you have enough proof points that it was less friction there? I can add a little one there. It really depended. I mean, there were a lot of cases where people went, well, wow, there's clearly a need for this because you guys were living it and breathing it. And then there were others that said, well, we don't have this problem, so it must not exist. So it was definitely cut down the middle, I think, for me. And you might feel otherwise. But I think showing the customers that we did have and showing the use cases that we were solving, we were solving a lot of different use cases. And this is something that we're still battling with today. I mean, we can be used across a very, very large variety of customers and use cases. And I think that's something that helps us in a way. I mean, we really can scale the product from three to five users all the way up to 15,000 users. And that's one of our differentiating features that I think kind of helps us as we move forward is that it's pretty easy to configure and work on your own. So I want to ask you what your superpowers are. Oh, go ahead, Ian, please. I was just going to say that the one thing that I would say about the funding process that we've just been through and given, there's definitely a lot going on in the world that probably made it a more interesting time to go out and raise money was really spending time understanding who the right partners are. And I actually think that was a part of the process that we definitely enjoy that part of it. And I think the route that it's taken us down from day one very much was around the operator-led VC approach. And I think that actually made the experience this time around slightly different in terms of those elements that for non-operator-led VCs that you might have to dive into a little bit further. I think we found partners that really understand the process. So I think the proof points, there are enough proof points in terms of how we kind of acquire those new users, how those workspaces build out more people introduced to the product. I think that's what most people kind of saw when we were talking to them that got it straight away. And I think, again, the beauty of working with those operator-led VCs is they've been there and kind of done it before. So I think in some respects, that actually means that you can go out and raise a little less money in the round because actually you're really kind of gaining that experience of people that have been there and done it. You know, it's definitely about getting balance in the VCs that are around you. And I do, I think we've got a fantastic team around us that can really help us cut through the noise of the market and the general kind of macro trends that we're seeing at the moment. Well, thank you for that. So we're always interested in what's unique, what do I call them superpowers, others use that term. You've got domain knowledge, so that's a check. You know the workflow, although I have a kind of a two-part question there. And then you've got this use case variety that Jess was talking about. So scale from small to large. But so what are your unique capabilities? And then the second part of the question is the workflow that you had at your digital agency, you know, might've been different than some at larger scale. And you know, what gave you confidence that you could apply this to those variety of use cases? I'm really interested in that. But what would you say are your really unique attributes? Yeah, so there's a couple of things. I think our unlimited user model is very unique in the market. And we don't see anybody doing that. And I think there's obviously a reason. For us, it makes sense. Everybody that you're working with should be able to collaborate on things whenever you need them to. So that's one point. In terms of the product, we've combined two technologies. So one of the things I think that we have that others don't is that we actually built the platform from a digital asset management idea first and then backed into kind of the more easy to use file management folder structure. And we still have that. So we have combined kind of two technologies, the digital asset management idea of categorizing and tagging your files, AI tagging, facial recognition, things like that. But we've also combined it with that idea of just having that folder structure and organizing things in a way that might work for you. And you know, that was based on feedback from our customers. When we first started out, it was digital asset management focused. And what we realized is not everybody even knows what digital asset management is, but everybody knows that they have trouble if they have trouble kind of organizing, finding and sharing their files. So the ability for us to kind of come back down a little bit and go, okay, we wanna make this a little bit easier for those people who might not have a digital asset management degree, and don't necessarily have the time to learn a really complex platform. And that is why we actually changed to this premium model. So anyone can just go to stop, press, sign up and get started for free. And that's something that we really pride ourselves in. We spent a lot of time on the user experience and making sure that things were easy to configure. You know, our game is not customizing things for our customers. You know, that's what a lot of digital asset management systems do. You go in and you say, well, this is what I need. This is what I need here. And they're kind of a modular approach for us. We go, hey, you don't wanna use AI tagging? Cool, turn it off on your own. You don't really need our help. Although we do love to help. We do love to kind of help people with their workspaces. We've found that they don't really need it. So you've essentially codified your expertise into the product. You're focusing on simplicity because I mean, the unlimited use is great, but some big competitor could say, hey, we have unlimited use too, but they don't have that expertise built in. Am I getting that right? Yes, exactly. And I think that's where it, for me, and that's kind of the feedback that we've gotten from our customers is that the platform is really easy to use. And it's really easy to learn how to become, a digital asset manager if you wanna use those terms. It's really easy to understand how tagging can help you find your files, all the permission sets that we have. And I always use this example. We had been working with a company kind of before we went full-time with Stockpress and they gave us access to one of their file management systems. I won't name any names. And I was able to, I didn't of course, delete everything in their platform. And that's something that always kind of horrified me is that people shouldn't be fearful of adding someone into their workspace and thinking that all their stuff's gonna disappear. They're gonna be able to do something they're not supposed to do. And in Stockpress, you can really, really go granular into what a user can do, whether it's only viewing a file or only uploading or only downloading or only sharing, you can really customize that tool to work for you. Yeah, you've really thought through those granular permissions. Who do you sell to?  Yeah, so I think that is one of the things that is somewhat of a blessing and a curse to us is that we can go very broad in terms of the types of customers and the industries that we can operate in. I think what we do is such a foundational part of people's businesses, you know, communications, you've got project management and you've got file management. I think if you've got those three things nailed down and people can collaborate around them, you've probably got a pretty good basis operationally to run a company. But there are some use cases that are kind of really coming to the fore of what we're doing at the moment. We've had some really good success in education and interestingly, not necessarily the interaction between the student and the educator, actually more in terms of the administration of a university or a school system. There's lots of information being exchanged through different departments, different faculties. And actually what we found is that that communications and a marketing element really sits at the heart of that operation. So the easier it is that they can ingest things into the system, then organize those things and then distribute them back out into the wider world. The better they can perform their function. We've also seen the media spaces has definitely kind of adopted us with open arms. So anyone that's producing huge amounts of high resolution assets has the need for a team that might be very distributed, a team that might work, the team member that might work for them for one day, a week, a month, a year. So the ability to be able to add them into that workspace and again collaborate and then have a target at the end of it to distribute that media to different people whether it's the press or back into a sports teams, for instance. So that's been a use case that we've really seen come to the fore as well. And I'd say the third use case that we're really kind of diving down into at the moment or in a lot of respects is finding us is e-commerce businesses and those brands that exist there. So lots of different file types. They might have images for their website. They might have SKU sheets that go with the product. They might have web copy. They might have video. All of those assets where there's kind of a rich tapestry of them really kind of coming together in one place. That's definitely been a kind of win for us as well. As I say, we're balancing out that element of we can go far and wide. But as a startup with time pressure making sure that we're making every dollar count we are really focused on winning those kind of key areas to begin with and then work out how we expand from there later on. Okay, and it's not like you're not disrupting Google Drive. People are going to continue to use box and Dropbox. It's almost like, it's a little bit like RPA where you're just bringing in automation, good workflows and solving a problem. But is that correct that you're not so much, there's not some big enemy that you're going after to disrupt? Yeah, I'm really glad you said that because that is something that we really like to push is that we're actually not here to knock anyone off. There is definitely a place for everyone, I think in the world. One of the things we're actually seeing recently, which is great is that we're being used alongside digital asset management systems. And I can give you a quick example. Our platform is so easy to set up and use and because of that unlimited user model and the ability to kind of get everyone in the workspace we're being used on a department by department level. So traditionally a dam might be used by an entire enterprise organization. And what we're finding is they still have that kind of single source of truth in that final place. But they're using us on a department by department level to replace another tool or to be the only tool. Maybe there wasn't somewhere where they kind of worked on files. So we really like to play nice with others. I mean, we do have an integration with Dropbox Box and Google Drive. So if you are using one of those tools and you need something that's a little bit more but you're not quite ready for a company-wide digital asset management system we're a great choice. One of the things I didn't mention before in terms of features which I can't even believe is that we have this ability to automatically identify duplicate files in the system. So if I was to import all my files from Box for example, Stockpress gives every file a fingerprint and automatically identifies if you have duplicates across the system and can merge them together for you. And what we find is people think they need a lot more storage than they actually do because they have so many duplicate files because of that kind of bolder mentality. So that is something that we're really proud of in our platform. Is that AI? My question is how are you using AI? You mentioned AI tagging and facial recognition. Is that part of what you're doing with machine intelligence? Yeah, so that's completely separate. So we are leveraging AWS for our AI tagging and facial recognition tools but the identifying duplicates tool which is what we call it we actually built ourselves. So it is a proprietary tool and we basically give every single file a fingerprint that is just like a person. So you can rest assured that the file is definitely an exact copy. We get a lot of questions about, well, is this file is cropped or smaller? Is it the same file? No, because it's not exactly the same dimensions. It's not at all, it's not the same file from a kind of fingerprint standpoint. So, but we did build that ourselves. We're not leveraging anything for that. Okay, so it's a SaaS platform. It runs on AWS I'm hearing. It's explained a little bit more about the unlimited use model. How do you price and deliver the product? Yeah, sure, so we're lucky in the sense that we've got a couple of other metrics that we can use to be able to build out our pricing. So in the initial kind of early days of stock press we very much focused on the amount of storage that people would need. So we basically tiered the pricing according to that storage requirement but as we built the platform out we've built in a ton more features as just alluded to earlier on. And what we've really started looking into is what types of customers exist in the packages that we have. And actually because of those customer types what features do they need to get from the platform to be able to get the most value out of it? So we've recently introduced pricing that has access to different features. And like I say, it's really focused on delivering value. I think a lot of our experiences of running a business ourselves with the platforms we love is they very much allow us to choose the level of kind of technology that we need to do a good job of things. So we look at platforms like Asana for instance that we've been able to understand what we need, what we don't need and have that kind of pricing set accordingly. That's the approach we're taking ourselves as well is that there is a necessity that is normally around the storage. There is a value set that is based around the features and we're hoping to just give people the choice to be able to take the package that they need. Okay, so you'll bundle the AWS costs into your pricing? Is that right? Absolutely. So yeah, we just try and make it as transparent as possible and as straightforward as possible so people can budget according to what they've got to spend and what they need from the platform. And how do you go to market? Is it primarily direct today or do you have a channel that you're building? It's a great question. I think the go-to-market question for any business that's in our position at the moment is probably the burning question. I think the way that we try and break it down is into three kind of key areas. It's attract, engage and convert. So we look at those different areas in very different ways in terms of the tactics that we're able to employ. Because we're a freemium platform we've spent a lot of time looking at our digital footprint. One of the things that we're really keen to do is that we understand the difference between attracting attention and capturing intent. What we do is very much intent-led and I think this is what we're learning more and more is that the chances of someone on a whim choosing to change their entire file management system is relatively slim in comparison to those that are feeling such an amount of pain that they go online to really find a different solution. So I think as we build the company out over the next 12 to 18 months, capturing intent is incredibly important to us because I think that increases our chance of growing our revenue, getting to customers that are in the market and also trying to help them make a buying decision before they find this will get to us. And when they do get to us that we can spend less time getting them over the line, it might be ironing out any kinks or asking any questions that are very specific to them. I think as we grow the business we'll definitely be looking more to that attracting attention element. I think that's really where we start to grow the brand out so that that proportion of people that aren't in the market at that certain time are really starting to get to understand who Stockpress are, the values that we live by and the experience they can expect so that when they are ready to change we become that kind of go to option for them. We're in that stage still where it's very much been found to lead selling. We've been out there, we make those connections, we help people see the value and then bring them in as customers. But again, I think we're at the stage now where that direct sales element of the business makes sense. We know a bit more about our market. We've actually seen a move upstream towards the mid-market and enterprise probably a little bit earlier than we necessarily anticipated, which is fantastic. So yeah, the direct element is definitely something we're doubling down on through the course of the rest of this year and next year. Great, thank you for that. We're out of time, but Jess, maybe you could just bring us home. What do you want the audience to take away about Stockpress? I think maybe the takeaway would be that if you're struggling in any sort of way and don't feel like there's an alternative to what you're using that's easy, we're here and you can try us out for free. We really, really believe that there is something missing in this kind of mid-market area between that Dropbox box and Google Drive and a digital asset management system. And we feel like we can cover it.  Guys, thanks so much. Appreciate you sharing your story and would love to have you back as you progress and congratulations on what you've done so far and good luck in the future. Thank you so much. Thanks for having us. You're very welcome and thank you for watching this CUBE Conversation. This is Dave Vellante and we'll see you next time.


Now, the chifting of the PDP in Delta State and elder statement of the party is re-acted to the recent statement made by Southern leaders about zoning the presidency to the South. Chief Morrison Uluri has said democracy is not a game of zoning, but a game where people are allowed to make a choice of their candidates. Uluri made the statement in an interview with our Asaba Correspondents upon a general Friday in Ogele, the administrative headquarters of Ogele North, looking government area of Delta State. Chief Uluri said that precedents can come from any part of the country because the people's choice will determine where the precedents will come from South or North in the 2023 general elections. People's choice, and that is called democracy. Democracy is not a game of zoning because democracy is allowed for both North and South to contest. So that the majority will carry the vote. Before democracy came, democracy said that they are coming to shield and we are for change. Because they have come, they have to shield and they are for back. Instead of coming up, they have brought us back to the position of even about 100 years ago. And don't forget to hit the notification button so you get notified about fresh news updates.


The vision of a transformed Appalachian region drew closer to reality Tuesday with the grand opening of the Haas E. Kentucky Advanced Manufacturing Institute in Paintsville. The building is a 40,000 square foot workforce training facility. The school will offer 16 week training programs for positions in advanced manufacturing with a goal of building skilled workforce that will attract advanced manufacturing in the region. Manufacturers worldwide are struggling to hire qualified workers, with 3.5 million of these jobs expected to go unfilled by the year 2025. The energy that you see here, the enthusiasm, the passion that people have, this is what it means to Kentucky. It means hope. It means opportunity. It means economic development. All of these things are going to translate into opportunity for people. Students at the school train using state of the art Haas equipment for positions such as computer numerical control mechanics as well as machine building and tool maintenance technicians in aerospace and advanced manufacturing industries. I've always dealt with metal, combination welder, come from a welding background family, a machinist. I thought it was a great opportunity and you just don't see it around and think it's a great deal. The school's first class began 13 weeks ago with students ranging from 18 to 55 years old. This means a new day, a brighter future for many in eastern Kentucky. We're retraining our exceptionally skilled workforce for new careers in the advanced manufacturing world. Haas is the top American manufacturer of CNC machine tools. In Paintsville, Shelby Porter, EKB News.


He sat down with me in the corner and he just looked at me and he said, my mom believes in reincarnation, is it so? It's just very direct. So I took a remote control, I said, well, it's really more like changing channels. As long as we believe we can find something in time and space, we keep just trying another channel. I said here and I said, I threw the remote control to him and I said, you're an eternal spirit, all is perfect oneness, but you feel there might be something more.  I said, turn the remote, turn the TV on. So he turns it on.  They're really just like channels. They're really no different. None is, one is different from the rest. I said, so let's try it out. So he was quite curious.    You're everything on the screen. You're not a character.   So he said, okay, give it one more try. And he did it. And it was a priest in a church. Oh, a religious figure. But remember, you're the stainless windows. You're the pews. You're the aisle. You're everything. You now are so expensive. You are everything on the screen. And now you can turn it off. And he turned it off. So there is no motive to kind of get out of the body. That would not be a good motive at all. Because as our mouth said the other day, you can't get out of one unless you believe you're in one. And that's part of the mesmerism of the world to think that we've taken our spirit and shrunk it down into a little slab of flesh. That's a trick. How do you get a vast spirit into a little slab of flesh? That's a pretty good trick. But there is a sense that once your mind becomes so unified and so still, like our mouth's talking about, that even, Jesus will say, our use for words is almost over now. He says that in the workbook. And he has a beautiful line in there, because a lot of times we think about those that have like hung around for a long time, like Mandela or Gandhi or, you know, the ones that lived to be a ripe old age. And they just were teaching peace for a lot of decades. We've, you know, well, that's really good. There's a line in the Course where Jesus says, there are those who have laid the body aside completely. And it also goes on to say that because that is part of a greater use, there's a greater helpfulness actually in laying the body and the world aside. And you see how that contradicts all of the beliefs on earth. You know, it's more heroic if you hang around and keep teaching love and peace. But he says there are those that have laid it aside the body to increase their helpfulness. And you see from Heaven's perspective, it's totally, everything's inverted. What? They've laid aside their body to increase their helpfulness. Well, they've got no lips anymore, no arms to hug with. How are they going to, we think of all those things as helpful on earth. But in the end we're being called to remember our true identity. And so you see just that line in there gives you a little glimmer that there's something even more helpful than having a body. And it's really remembering your true identity. And that's what we're called to.


Hey guys, welcome back to my channel. My name is Sonali and this is my roommate Lara. Not for long! I am moving out and unfortunately, she won't be my roommate any longer and I'm really sad about it. If I could, I would keep her for like all of my years of like having a roommate. But yeah, so I am moving out. There will be moving vlogs. This is actually gonna be a task-tune moving vlog, but we literally just decided like we're gonna take so long telling our stories. So we decided to just make a like separate vlog. So we're gonna talk about how we even got to this place. So first day of summer bee. Literally first day. We actually met at orientation and I had her phone number I knew she was doing summer bee. So I was like, hey, do you want to come over like the first day of classes or whatever? So she comes over and I'm like, dude, I literally got like a shared bedroom. I'm so pissed because like I was living in an apartment style and I was just not used to it and I was not ready to share a room like no way, Jose. And I lived in like a shared apartment or a shared dorm over summer night, hated it. Her roommate was just like not a good roommate and I was like, that scared me, you know? So that's when I was like, okay, maybe let's try to like look off campus because I wasn't opposed to it at all. We both were gonna have our on-campus experiences that summer. So we were like, honestly, like it's not like we have to wait till fall and live there a whole year. Like we are gonna get it over with and get it out of our system. I feel like we didn't even tell our parents until we like went to the lecture. Well, no, because I think I asked them like, is it okay if I even like look off campus? Because I didn't know how they felt because I know some parents are like weird about it. Like, no, that's a distraction. I know my mom actually was like, if you get one C, like you're moving out. Do we tour a lot of places? I don't think we did. I feel like we only toured this place. That's just how I'm remembering it. Because, yeah, because like remember, like the other one we really liked after we lived here. And we're like, oh my gosh, why did we tour this? Yeah, like we literally toured nothing. We came here and saw it and we're like, oh, that's gonna be nice. Yeah, we went to the other place. Oh, yeah, and then they were booked. Oh, yeah, and they were hella expensive. Yeah, so. No, thank you. But the other selling port was that it was a little bit cheaper. Like maybe by like, you know, a few hundred dollars here and there, anything to make our parents say yes, I feel like we kind of went for it. So that was definitely one point. And then literally our place is two minutes away from campus. You really just like go through a light, cross the street in your own campus. So that's really nice too. Like we didn't really live that far away. So there was really nothing to be worried about. There's like a shuttle here to go to campus, which is really nice. We both used it and it was very convenient. So let's get into our stories about this lovely place before I move out. Like, what is our first story? I remember when she first moved here, like she came here before me because she was going through recruitment. And I remember when you first came here, I was like so excited to see because you got here before me. Yeah. And she was like, oh, she called me to go Laura.  It's probably the first thing I said. I was so scared. She sent me pictures and like everything was like pitch black. I'm pretty sure I literally tried to set up my camera in front of the window and I was like, oh my God, it's not going to work out. And I'm literally in a contract for like a year. And then we actually ended up renewing it because we're like, honestly, we just don't want to move. Yeah, seriously. So we kind of got used to it. I really recommend picking a place with good lighting and making sure you have good lighting. I swear that affected so much of my mood during freshman year. Like, I don't want to say I was depressed, but I did. I was not in the best moods at all time. It made me feel so homesick, so lonely, like I could not get out of bed because the light wasn't shining through to like wake me up if that makes sense. It makes you so much more like lazy. I can't even like do my homework in here because I'm just like, well, I guess it's time for bed because it's dark in here, like, um, but yeah, so definitely that was like the first thing I noticed about this place. So I won't miss that. So one night we had like our friends over and you know, we're just, I wasn't there, right? You weren't there yet. Okay. I think you were like at your sorority. Oh. And we're all just hanging out and stuff. And like, I go to the bathroom. Well, no, there was a cockroach in my room. Pretty sure. And so I got one of my friends to kill on the wall and like he walked out and like I'm screaming, of course.  And so as I'm done, I come back outside and there's just two guys in the apartment that like I don't know. And so I'm like looking at like all the people, like my friends and I'm like, like, who are these people? And so, um, they're just like talking to me and they're like, Hey, what's up? And I'm like, what do you mean? What's up? Like, what are you doing here? Are you here? And I was like, I was like, did like he let you in like talking to one of my friends and they're like, no, we just walked in and I was like, like, why do you think that's okay? Like you don't just walk into people. I think they were awesome. No. He literally was like, yeah. I think one of his friends said that and I was like, okay, can you get out? I was so scared. I was like, oh my gosh, speaking of cockroaches, we've had a lot in our town. You! It's always around you. We haven't seen them lately. Have you? No, I haven't. I haven't either. I haven't in like 10 years. Oh, except for that one that was in my room.  I'm like, they're so fast. If I, if I'm not just going to spend my time and effort just trying to chase it. Okay. So my story, I've been wanting to tell you guys and I wish I had like my, um, witnesses to share it with you guys, but she is kind of witness kind of. Okay. So one day one of my friends was over and we were just sitting in my bed watching a scary movie. I don't know what it's called. Do you know what the movie is called? Hush. Hush. Okay. It's about a deaf girl that lives in the middle of the woods for some reason. I think she lives alone, doesn't she? Yeah.  I guess he's just like messing around with the girl inside. He figures out that she is deaf.  Then he realizes that she's deaf and so basically a whole movie is him like banging on the window trying to get her attention and like luring her out. Then after the movie we're like, okay, that was really scary. I'm not trying to like, you know, watch any other scary things right now. Let's watch like funny videos on YouTube. So that's what we did. We like started watching these random, random videos. I don't remember the last time I watched like random funny videos on YouTube, but we did and my windows were actually open and unfortunately we do live on the first floor, which is not safe at all for this reason. And I guess I didn't really like realize that my windows were open for some reason. It didn't really like occur to me just because I was with someone. If I'm alone, like I'll shut them really quick because it's like scary. But like, I guess because I was with someone and like the lights were off. When we were watching the scary movie, I didn't really realize, but when we were watching the YouTube videos, they were on. So basically while we were watching the funny movies, all of a sudden I see this hand smacking on my window. Let's just pause for a minute. Like, I can't even imagine. I was asleep this whole time and like if I was like you, I would be paralyzed. I was about to cry. I think my first instinct was like to turn off the lights and like try to see who it was. By the time all that happened, like the guy just like left obviously. So like the gate to our balcony is kind of high up. So you would have to like literally take effort and like jump over.  And me and my friend were like literally like, what? What the heck? Like we were in such shock and like obviously we didn't really call the police because it literally happened in like a second. Like I don't, I just didn't know what to do in that situation. So I ran in the living room and tried to like close all the blinds and then turn on the light to see. Were the blinds open in the living room? I think so. Oh my gosh. Yeah. And so then I turn on the light to see if he was like still out there, which obviously he wasn't. And then I like called Laura. I was like, did you hear that? And I literally was like, I thought that was my dream. Yeah. Cause I heard her like calling me on my phone. But I didn't like think it was real. So that was part of my dream. So that's why I always like close my windows at night. I mean like, I know that's what you're supposed to do. But I feel like I used to not because I liked waking up like with a little bit of like light in my eye, the little bit that I have. But yeah. So I can't do that anymore. This is like more of a story I went through. And I think I told you. I don't know. But one time we were, my boyfriend and I, we were chilling in my room. And like all of a sudden there were like, it sound like gunshots. Honestly. It was just like a lot, a lot of like thumping. And like just like really rowdy outside. Cause like, like we said, we're in the bag. Like we can see everything. And so I quickly like turned the lights off. Cause like, cause obviously like if the lights are on, you can't see outside. And so, um, yeah. So like my boyfriend looked through the window and like he like jumped back so fast away from it. And I was like, what is going on? So I looked myself and there was like a kid running and like being chased by the cops. Like right on that. And he jumped on our balcony. And Tony was literally like, oh my God, like he just jumped on the balcony. That's why he like jumped back cause he didn't know who this person was.  But I was like, why do people like think it's okay to jump on our balcony? Yeah. We need to have a site do not cross. Like serious private property. I don't know if you heard it. I was like such a loud like thump. Like when he came on the balcony. I feel like I remember you telling me this and I might have like heard it, but I didn't know what it was. Yeah. But it was so scary. I was like, oh my God, this place. Pro tip. Don't let them up first floor if you have a choice. For Beth, we asked Snapchat if you guys have any questions about like living off campus and on campus or whatever. And we received three questions. I'm not very patient. It's been like 14 minutes. So we're just going to go ahead and answer these questions. Okay. So the first one, Agnes said, did you choose your roommate beforehand? And for summer B, I met my roommate on room serve. And didn't you? Or no. Yours is random. Final is completely random. Did you not choose one? Did you not know? Well, I don't know. I don't defer from UCF. And so I literally found out that I got in like in April. And so a lot of people already had the roommates for summer already. So like I kind of just went with whoever.  That kind of sounds. Yeah. But we picked each other. Like I said, we met each other at orientation.  Connected. Yeah. Clicked. Kristen said, I signed a lease at university house. Have you guys heard anything good or bad about it? I'll be new to UCF. Well, that was one of the places we originally, like not originally. We toured last year and we loved it. It looks gorgeous inside. I've heard a lot of bad things. Yeah, that's the thing. Like even the ratings compared to the place we live are worse, which is shocking. Very shocked. Because it looks beautiful. Yeah. Everyone like. And another thing that we didn't like about university house was that like where we live, it's a straight shot into campus, but you'd have to like turn out of this little tiny lane, get into like a lane, go all the way over to you turn back to campus. So it's just like really annoying. And I was like, I don't want to live here just because of that. And I heard the parking garage is really hard to deal with, but like, isn't every apartment.  Yeah, I forgot. Yeah, yeah. And that their wifi is really bad. We should be more positive. Yeah. It's beautiful. It's really pretty. Okay. Maddie said, where are you living next year? I'm going to miss seeing you guys on videos together. Why are you going to miss us? Because we'll be in blogs together anyways. Like I'm going to be over here like a lot. Not every day. Every day. You're not even going to invite me over every day. Every day. Every day.  And I'm going to cook steaks here because I won't have a kitchen and going to make cookies when I want to cook. I think it'll be good. Yeah. Because we've had our time. But to answer the question, where am I living next year? I'm living in my sorority house. So that will be interesting because I'm going to have to share a room with someone. And that's actually why I lived here because I didn't want to share a room with someone. So, you know, we shall see. I think it'll be fine though. And I think it'll be good for us too because like now we'll like see each other and not just be like roomies. We'll be like BFFs. Because we have a lot in common. Yeah. But it's like I feel like we don't even put that to use. Like both are into like Instagram and blogging. Yeah. But we never even like. Like go and find or shoot or something like that. Yeah. Now that'll be our excuse to hang out even more. Yeah. That's true. So it'll be good. Blogger dates. Hashtag bloggers. Okay.  No, I'm dead serious.  Serious.  Serious.  Serious. Hold on. Let me find it. You're so weird. Laura told me she was going to make a slideshow of like all our memories so I can cry when I move out. I was like, no, you're fricking not. You're not doing that. You did not. I did.  Oh my. I'm scared. Does it have music? It does. How long is it? Seven minutes.  It's like this girl's like proposing to me. This morning I watched like makeup by Allie's video and apparently her boyfriend made this video for her birthday or whatever and he literally proposed her while she was saying, you're proposing to me aren't you? Yeah. I am. Okay. Give me a million races. Give me a million races. Maybe we should do the company. Gross up with that. I mean she's in my room. She can eat it. No, well it's her. Disfaction.  We still don't have our blogger photoshoots though.  It's going to be okay. But it's so funny so like I can't. No, literally I cried. I bet you did. I literally was bawling my eyes out. They'll light up. No man. What am I saying? Forfeible. I just went through all her videos one day. Yeah. I said. Clip, clip, clip. It was so long. No, I know. I bet. But honestly it's really fun watching my vlogs back.  Drap that. What am I saying? You said thank you. You're talking to the tech guy. Oh.  That's tripled.  No big deal.  It's fine.  I know. Look at your two-seer feet. No. Go back. What would you do with my finger? That's why it was the hate. Come on. Double joint in. Ew that hurts my fingers. Ew. And we used to do this on the dinner table all the time. It's not me. It's sound. Where's the replay? I'm gonna hold her to it.  Yeah I know. I'm gonna hold you to it. I'm gonna hold you to it. I'm gonna hold you to it. I'm gonna hold you to it. I'm gonna hold you to it. I'm gonna hold you to it. I'm gonna hold you to it. I'm gonna hold you to it. Me? Yeah I know. I'm gonna hold you to it. Okay. I'll be there. Thanks for making a video. You're the weirdest person ever. Where's my ring? That's for like a month. Dead off. She literally told me she was gonna make it. And I was like, you're literally not.  Go party. And then like play on the TV. Like farewell. But I'm like, that's really weird, Laura. Stop. So funny. But I hope you guys enjoyed this video. It's probably a little long. I wasn't expecting that. Really? I wasn't expecting that. Let me tell you that. But we will see you guys in some more vlogs this summer. Not really because. I'm gonna visit you in towards. Stop saying that. Okay. I told her I was gonna make you a video and I did. Yeah. Okay. I'm gonna hold you to it too. But she has a really cool internship. So congrats to her. Thank you. And it's like really, really cool. She's entering at Big Eye Orlando. Which is like super cool.  Not as close her. But still gonna be with my dog. So we'll be there. That's worth it. Yeah. BT Dubs. I'll have Laura's blog and Instagram and whatever else in the description below. So make sure to follow her.  Then go follow all of her links and stuff like that.


QuickBooks Online 2024. PayPal, bank feeds, data input and transfers. Get ready and some coffee because we're going to be able to generate financials on call with QuickBooks Online 2024. 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.  Like our crunchy numbers is my cardio product line. Now I'm not saying that subscribing to this channel crunchy numbers with us will make you thin fit and healthy or anything. However, it does seem like it worked for her. Just saying. So yeah, subscribe hit the bell thing and buy some merchandise so you can make the world a better place by sharing your accounting instruction exercise routine. If you would like a commercial free experience, consider subscribing to our website at accounting instruction.com or accounting instruction.thinkific.com. Here we are in our QuickBooks Online Bank Feed Practice file. We sit up in a prior presentation opening the major financial statement reports as we do every time the report's on the left hand side within the favorites. We're going to be right clicking on that balance sheet to open a link in a new tab, right click on the profit and loss to open a link in a new tab. And then we'll do the same with the trustee TB the trial balance. If you don't have that trial balance in the favorites, you can search for it. Let's tab to the right close up the hamburger and then we'll change the range up top. We're going from<PHONE_NUMBER>124 selecting the drop down. We want to see it on a month by month basis. Run it and then we'll tab to the right and repeat closing the hamburger, changing the range 010124 tab 033124 tab drop down for the months and run it to refresh it one more time. Uno vase mas por favor and we'll run it again 010124 tab 033124 tab selecting the drop down months, run it to refresh it. Let's go back to the balance sheet. We've been thinking about, of course, our bank feed starting with the checking account. The first thing people think of when they connect the bank feeds, but we noted that you can also connect the credit card. So then we went to the credit card and you can connect savings accounts and possibly even brokerage accounts if they're with your bank, for example, but we this time wanted to connect the PayPal account. The PayPal account, you could connect basically using an application which might give you some more versatility. We discussed a little bit more in the prior presentation or possibly just connect with the bank feeds where you might not have as much of the breakout of the detail if you have transactions say with fees, for example, but I kind of trusted a little bit more at the same at the same time because it's just a normal kind of bank feed connection. And that's what we in essence did. So it's going to act for us. I'm going to go to the first tab to the transactions in a similar fashion as though we had just another checking account. So now we have our PayPal acting like another checking account because we got money going in and out of it. And we chose to put the PayPal account in place instead of just waiting till say, for example, deposits clear the bank into the checking account, which would be an easier system to not connect to the PayPal. If that's what all we were using it for, we chose to actually add PayPal because we had multiple people paying us within PayPal. And we wanted to add that customer detail or platform detail into our system. And because we're using it to pay expenses, which means we're using it more like a checking account. Alright, so here were our transactions down below. Now if we're paying out of PayPal, then it's just like any other kind of checking account if you're doing that. So for example, this one we paid to outback Steakhouse, which I'm not sure if they accept PayPal or not. But if they did, then we can pay them we have the similar situation where it could go to an expense form if it was for an expense like meals and entertainment. But if it was for personal use, you might be using your PayPal and say, Oh, man, I use some of it for personal, some of it for business, just the same problem we had with the checking account and with the credit card account. If it was for personal use, we might assign it then to the the draws account. So let's practice that we'll say it goes to draws, draws. So this is one method that you could use again, you want to try to separate your accounts. So you're using PayPal just for personal versus business. But there's only one PayPal does some unique things. So possibly you use it for both and you have this situation where you'd have to break out between personal and business. The two strategies we have to do that one, when you have a personal item, you put it to draws. So it doesn't hit the income statement at all. Or two, you put it into a expense category, but break it out by class. And the class tracking would only be there if you have might not be there on the lower versions of QuickBooks. But the class tracking will break out the income statement by column, which could be a way to do this. If you have a small business, just doing the bookkeeping for tax purposes on a schedule C, for example, the schedule C, in essence, only being an income statement, rather than needing to track kind of all the balance sheet accounts possibly. So we have the owner draws here, we're going to say an outback steakhouse. If I hadn't set up the vendor, I can copy the vendor in place. We do want to be adding the vendor as we go. If this was a repeat process, then we can create a rule with it just as we saw with the normal with the normal transactions in the checking account, we won't make a rule this time. And then we could simply confirm it. So let's go back on over to the balance sheet and check that one out running it. And now we've got a PayPal transactions. And if I go into the PayPal transaction, same kind of thing happening here, we've got the 230 PayPal, it was recorded with an expense form because it's being treated like a decrease to the checking account that we recorded through the bank feeds. And so that is that. And then the other side, instead of going to the income statement, we put it into the draws because we imagined it was for personal use. So we put it in into here. So there's the other side outback steakhouse, we've been visiting there a lot for our stakes, apparently, I don't know, I'm not advertising for them or anything. It's just the first thing that comes to mind. I'm hungry. So I'm going to say, okay, then we have if the profit and loss, we didn't have anything in here. If we did post it to the profit and loss and it was personal, we might change this from months to classes. And we saw this in prior presentations where you can break out every transaction, assigning it to P for personal or B for business, for example, if you did that, instead of having a not specified class where you don't have a class assigned to a transaction, I would think you would want to assign every transaction to a class. And then the not specified ones will be a double check, which means you haven't thought about whether or not to assign it to a class and you can drill down on those forms and assign them to the proper class. So that's the other way. So you could have put it to like meals and entertainment in here breaking it out by personal or business. Sorry, right? So I'm going to go back to months here. So again, when you talk about that kind of thing with a bookkeeper, they might cringe because they get scared because, you know, because it'd be best if you could separate everything out perfectly, but sometimes you can't. All right, let's go back on over to the pay to the PayPal transactions. Then we had these amounts, which were the payments of PayPal. But first, let's look at these. We also had these three that were saying came in from a platform. So you two paid us and then we had another platform paid us and then we're saying that we got money from our website. Now again, if we were just using QuickBooks to collect those payments and then taking those amounts and depositing them from PayPal into our bank as soon as we get them, we might just wait until they clear the bank and not even connect PayPal. And then when I see them coming in on this side from PayPal, just record them as income. But as I get as things get more complicated, if I have more things paying me through PayPal, it might be useful to connect it so that I can then see where they are coming from with the bank detail if they are electronic transfers. So for example, this one, let's do the YouTube one first, we'll say YouTube. And it would be the same kind of process. We have a we have a YouTube up top that's already been categorized as a customer. So we will keep that the category it's going to is YouTube income. Normally, I wouldn't make an income account by customer but YouTube's kind of an exception because we're doing gig work and being paid by an entire platform, right? So you might make a whole separate income account by customer as well. So we'll do that. And then again, you can save this transaction and make a rule for it if you wanted to. But I'm not going to hear actually this one already had a rule applied to it. So the rules being applied. So I'm just going to confirm it. And so that one has been put in place, we can do the same thing with the website one. So let's say this was our website, you know, that is paying us through PayPal, then I might put of a customer, which I might call our website says out website, but it should be our website, we're going to say tab, I'm just going to add that so I have something to tie it to. Even though it's not really a customer, that's just saying that it's coming from our platform. But that can add information to the customer area which or which could help us to sort our data. So instead of just putting it into services, I'm going to make a new account and say that this is going to be income from that platform. So I'm going to call it an income account. We'll make it a other primary income. And I'm going to call it our platform, say our platform, which is a generic and then income, right, a generic income account for all the sales that are happening from our website, or so we're going to say save. And then I could of course create a rule for that. So I can say rule. And then our platform money in we can apply it to PayPal or to all of the accounts. I'll just apply it to PayPal here. Description I like to say bank text because it's more detailed, and then contains and then out website. I'm going to say that's the one we want. How many is it going to apply to just the one right now? Okay, it's going to be the transaction type deposit. There it is. There it is. Let's go ahead and save it. Then the rule is applied. So I'm going to click on it and say that looks good. Let's confirm. And then we can do the same thing for the online platform. This is another platform that we are imagining that we have here. So we're going to say the other platform I'll copy the memo information for the customer tab add. I'm going to make another account for it, which will be an income type of account. So it's going to be income. And I'll say it's other primary income. And then I'm going to say it's going to be online platform income. And then save it. We could make a rule for that creating a rule. It's a money in rule. I'm going to make it a bank text containing online platform tested. One is applied. Looks like the data is good. Save it. And then I'm going to say that rule is good been applied confirm. So let's look at those now. If I go to the balance sheet, we're going to say okay. And then in PayPal, we have these transactions taking place. Let's put the end date to three. And so we can see all the data in there. So we have the deposit forms that are taking place. And then we have this one expense that we have done thus far. And then on the other side on the income statement, I was able to break out the detail. So I refreshed the page. So now we have our income accounts for for the website, YouTube and the online platform. Notice I named the income account by platform. We don't normally name income accounts by customer. But if you're doing gig work and you're just getting paid by platforms, that kind of makes sense. Because then you can basically categorize your income by the major platforms that you're working with number one. And number two, because you're recording them with the deposit form through the bank feeds, you're not going to have the added detail of a sub ledger that can break out the income by customer, right? Because you didn't use the sales forms, invoices, and the sales receipts. So in that case, it kind of makes sense to make an income aligned by an essence customer or platform. So that's what we have there. Also note that by using PayPal, I was able to see clearly through the bank feed data, which platform was paying us at any given time. Whereas if I wait till it cleared the bank to the checking account and I didn't connect to PayPal, then I would I might not know which platform it came from unless I transfer the deposits one at a time. So in that case, I might, I would be required only to have one account called, you know, online income right from PayPal, right or PayPal income, which would be all the income through the sources that are paying me through PayPal. So then let's go to the first tab again. Now we've got these transfers. So these are connecting these are like two accounts now that are both connected to the bank PayPal and the checking account. And we have this this issue that we have a transaction that's going from PayPal to the checking account. And so the question is which side should I record that transaction on because they're impacting two accounts that are connected to the bank feeds. So you can see here that it found those it sees it and says it's paired. It's paired on this side. It's paired on the on on the checking account side, we could see it is paired paired is different than match match means that they see a transaction that has already been recorded. It's already been pulled into the promised land or was created by ourselves and didn't go through the bank feeds. And it's already part of the financial statements in other words, and it's just verifying or matching meaning it's not going to record anything new or it's going to record the next thing in the series of the cycle of processes. But the when it says it's paired, it means that it's it's connected to another bank feed transaction that has not yet been pulled into the promised land. So if I can go to either side then the best practice probably we would be to check each side I could say okay there's that transaction here here it is on the other side right and then add it you can I usually add it from the checking account because that's the way I normally see the items coming through. Now this pulls up the question though of if I hit the plus button notice that if money is going into the checking account you would think I would use a deposit form right because that would make sense if I go to the balance sheet and I was going okay the checking account is going to go up if I go into the checking account and I'm going to change the date to January the increases in the checking account happen with deposits so you would think I'd have a deposit form however on the other side of things if I used a deposit form from the checking account side and I looked at the PayPal side because this is basically a checking account then I would have a deposit form with a decrease right that's why we don't use the deposit form even though the financials would be correct the journal entry would be correct on the other hand you could say well why don't I use an expense form because if I use an expense form from the PayPal side that would kind of look correct right because the expense form would be decreasing PayPal but if I go into the deposit side of things then the expense form doesn't look quite right because the expense form would be an increase instead of a decrease that messes up my filtering options up top I want to be able to filter by transaction type deposits should increase expenses should decrease so although the transaction would be correct in terms of the accounts impacted we using either the expense form or the deposit form we're typically going to use a transfer form now note that sometimes like QuickBooks is getting better and better at not assigning a transaction to a transfer form from the bank feeds if it's not an interbank feed transaction between two bank accounts but sometimes it still does because sometimes the description has transfer in it for whatever reason and therefore QuickBooks kind of defaults to try to make a transfer form which isn't the proper form typically so just be be careful of that you you want to transfer only when it's actually a transfer between the two accounts basically and it will be paired usually if that were the case now if it was connected to a credit card account you have the same issue and could still use transfer in theory but QuickBooks makes another thing called pay down credit card which we saw with the credit card same concept same idea if you if you used an expense form it wouldn't look right on the credit card side of things in the transaction detail because the expense form is what is being used to record the purchases of items like supplies and whatnot therefore instead of using transfer they want to use the pay down credit card so so that's so these two are basically doing the same thing solving this problem of the sorting issue with the transaction detail for interbank feed transactions and then bank feed transactions with credit cards let me just show you what would happen if i went to this side and i didn't use that it's paired notice that this one is paired and it's using a transfer that is correct but let me just show you what would happen if we said well i'm going to do it with a category which means it's going to make an expense form it's a decrease so i'm going to say let's do the category it'll be a decrease there and then i could add the vendor which would be the you know the checking account and then and then let's just see the different methods and see why this is an issue just so you could explain this to people so we're going to say all right let's confirm that 400 as it will hold on a sec i didn't assign an account it's going into the bank account the other side's going into the the bank account and this is the paypal account okay so there we have it let's go and confirm it now okay and so then if i go into my bank account on this side i think it recorded it on this side uh no it says if i go into the bank account side now uh okay hold on i assigned it to the wrong account let's go back to paypal and just note if i categorize it here if i go to the categories and i look at that one you're gonna say okay 400 it went to a bank charge when i wanted it to go to the bank account so i could undo it or i can go into this transaction let's go into that one and then say i wanted to go not to the bank charge but to the checking checking account okay so there we have it now it's going to the checking account now let's save and close it okay and so now i'm going to go back to the for review category go into the checking account and then notice this 400 is no longer paired it now says match why does it say match instead of paired now because the other side of the transaction has been entered and is now part of the of our financial statements and this one now would not be recording anything new but simply matching to what we did on the other side so i could say okay match that and so now if i go to my balance sheet i think this one happened in february on the paypal in february we then have this expense form so the expense form the other side goes to the checking that looks kind of normal because it's a decrease and then if i go to the other side in february this is where it looks kind of funny because now we have this 400 here it's an increase but it's an expense form that messes up my sorting right if i want to filter by transaction type for the things that are increasing then i shouldn't have to filter by the expense form that'll mess things up that's the point even though the transaction is correct the other way you might see this just to just to show you the other side you could say okay well what if i was on the checking account side and i see it here it would be a deposit right so if i go into it instead of pairing it instead of recording it as a transfer if i went to the category field and recorded it as a deposit it would be a deposit and then the other side's going to go to paypal paypal and so boom and so now let's save this one it'll record it as a deposit the other side should be paired or matched on the other side so i'm going to say confirm just to show you this is kind of what not to do but i just want to show you these three why it does it this way and it's kind of nice over here we can also see why it matches now instead of having a paired thing it says it has now matched it so i'm going to say okay let's go into that one and it matched it because the other one has been added let's go ahead and match it so that's good if i go into the balance sheet and run it so when was that one as of i can't remember what it was for what date was that one i think they're they were all in february let's do february checking account february so that one was a there's paypal here it is 480 that one looks right that it's a deposit so that's good on that side but if i go to the paypal side of things then then it doesn't look quite right on the paypal because now you have a deposit which is a decrease and deposits should increase so one way you might think of it if you look at it from the perspective of the checking account then you know you might try to make the checking account like correct because that's the one that's going to have the most detail although paypal could get quite detailed if you use it a lot as well but that's the reason that you use the paired form which is a transfer so instead of doing that we do it this way which is paired notice when i confirm these two it will confirm them on both on both sides of the transaction it should notice over here it doesn't show them as paired but you that's because i kind of tinkered with it with those other two but if i add these two let's go ahead and add them both at the same time and then confirm boom and then i'm going to do you want to use the same category for all expense i'm going to say let's go to the checking account and those two didn't get confirmed i thought they were paired let me refresh the screen or let me go back and see here and categories so we can check those out that were paired these transactions i put it to bank charges again hold on let's undo that and undo that let's go back to this first one and let's go and check them out again so i they should have they were correct the first time but then i tinkered with it and messed it up let's go to record as a transfer and then it says paired transfer details so pay pal so i think that is what we want to see okay and then this one is paired as well so if i go into it record as transfer paired let's confirm and then if i go into the checking account then on this side it recorded the other side at the same time so of course i did that totally on purpose so that we can demonstrate how you can then go into the categorized field and undo it or change it that was intentional in case you were wondering let's go to the balance sheet and then check it out again and go into the checking account so now we have them in there as the transfers so now it's a transfer so when i sort with the filters if i want to look at increases or decreases i would have to include the transfer right because the transfer could be a transfer in or it could be a transfer out but at least it doesn't look funny that i have like an expense form going the wrong way or a deposit form going the wrong way and then if i go into the the pay pal side of things same thing those two are in there if i got them hopefully correct as a transfer right so that and so again that that's why we use the transfer so that it so that it doesn't look funny on the transaction detail now again if i go to the first tab notice quickbooks is getting a lot better at being able to identify whether something should be paired with the transfer as it was correctly done when we first did it before i tinkered with it and kind of messed up uh quickbooks thing but you always kind of want to check each side of the transaction that that they're linked to to make sure that they're they're properly paired and the and the right thing is being done also note quickbooks is getting a lot better at not using the transfer form when it isn't a transfer between two checking accounts like it used to use that transfer form sometimes which messes things up so so uh so it's getting better at that when it recommends the account that it should go to but again you still want to be careful of that if quickbooks is recommending that something is a transfer make sure that it's properly should be a transfer in that it's going from one bank feed account usually to another bank feed account in which case you can confirm that it's on both sides of the bank feed and then confirm that the two accounts have been uh recorded when you when you pair them all right so then uh and record them with the parent so i'm going to go to the balance sheet this is where we are at this point in time so hopefully i got that paypal correct and so this is where we stand this is where we stand on the p&l the income statement the profit and loss let's run it to refresh it i don't think we did anything here because we actually know we recorded a transaction over here didn't we like an expense or something uh no no it was out back so that was on the balance sheet too as a draw and then we have our trial balance so if you're following along then if your numbers tell to these numbers great if not it might be a date range issue and you can change the date range if that is the issue and uh then drill down to the source document possibly changing the date on the source document if you need to something that's great to do in a practice problem but be careful doing that in practice


Talking of the race, Red Bull, Red Bull the fastest car, yes they were, they had some issue with Max Verstappen on Friday, they didn't run end of FP1, they didn't run at all in FP2, so that completely puts you on back foot, you don't do long run, you don't do tire degradation, you don't do setup work, you don't do quarry run, and still, Aim qualifying without that small mistake on the last attempt, I think it would have been on pole, in the race much better tire degradation on the Red Bull side, it was very impressive to know how they knew that front right was going to be the issue, and they looked after it, whilst at Ferrari they suffer on medium from that front right tire, that's why Max could pass Charles, and then on to the hard tires, both cars were very similar, but it's hard to pass, it's hard to pass on Miami because of the tarmac, the tarmac is not the only thing that needs to be improved for the future,