SOPHIA's Bookkeeping Firm

13/08/2024

I had the opportunity to learn about 𝐔𝐒 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧, and it’s truly one of the most complex systems out there. 𝐖𝐢𝐭𝐡 𝟓𝟎 𝐬𝐭𝐚𝐭𝐞𝐬 𝐚𝐧𝐝 𝟓𝟏 𝐣𝐮𝐫𝐢𝐬𝐝𝐢𝐜𝐭𝐢𝐨𝐧𝐬, 𝐞𝐚𝐜𝐡 𝐰𝐢𝐭𝐡 𝐢𝐭𝐬 𝐨𝐰𝐧 𝐭𝐚𝐱 𝐫𝐮𝐥𝐞𝐬, I can only imagine how challenging it must be to manage books in the US.

Thanks to Coach Joe DiChiara, I’ve gained a new perspective on why the US is such a promising market. There’s a significant shortage of bookkeepers and accountants and with 𝐨𝐯𝐞𝐫 𝟐𝟕 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐬𝐨𝐥𝐞 𝐩𝐫𝐨𝐩𝐫𝐢𝐞𝐭𝐨𝐫𝐬, 𝐦𝐚𝐧𝐲 𝐧𝐞𝐞𝐝 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞𝐢𝐫 𝐛𝐨𝐨𝐤𝐬. It’s so easy for them to face challenges with tax compliance.

What really resonated with me was Coach Joe’s approach—he values character over experience, 𝐰𝐡𝐢𝐜𝐡 𝐢𝐬 𝐰𝐡𝐲 𝐡𝐞 𝐞𝐧𝐣𝐨𝐲𝐬 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐰𝐢𝐭𝐡 𝐅𝐢𝐥𝐢𝐩𝐢𝐧𝐨𝐬. 𝐇𝐞 𝐚𝐩𝐩𝐫𝐞𝐜𝐢𝐚𝐭𝐞𝐬 𝐨𝐮𝐫 𝐜𝐮𝐥𝐭𝐮𝐫𝐞, 𝐬𝐭𝐫𝐨𝐧𝐠 𝐰𝐨𝐫𝐤 𝐞𝐭𝐡𝐢𝐜, 𝐚𝐧𝐝 𝐥𝐨𝐯𝐞 𝐟𝐨𝐫 𝐥𝐞𝐚𝐫𝐧𝐢𝐧𝐠.

I’m thankful for this webinar, not only for the knowledge I gained but also because it was all for a great cause, supporting Carina Relief.

11/08/2024

𝐉𝐮𝐬𝐭 𝐡𝐚𝐝 𝐚𝐧 𝐚𝐦𝐚𝐳𝐢𝐧𝐠 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 𝐥𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐚𝐛𝐨𝐮𝐭 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧 𝐁𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐚𝐧𝐝 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧!

It’s such a relief to know that Australia has a standard tax rate across the country, making things way less complex compared to other places.

Huge thanks to Coach Loida Velasquez for breaking down how to apply GST in every transaction—she made it so clear!

And the best part? This webinar was for a great cause, supporting Carina Relief. Feeling grateful and excited to put this knowledge to work! 🙌

10/08/2024

𝐈𝐬 𝐢𝐭 𝐫𝐞𝐚𝐥𝐥𝐲 𝐩𝐨𝐬𝐬𝐢𝐛𝐥𝐞 𝐭𝐨 𝐭𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 𝐟𝐫𝐨𝐦 𝐒𝐨𝐥𝐨𝐩𝐫𝐞𝐧𝐞𝐮𝐫 𝐭𝐨 𝐀𝐠𝐞𝐧𝐜𝐲 𝐨𝐰𝐧𝐞𝐫?
Sir Jonathan Ruiz shared his journey with us and showed that it’s absolutely possible!

He emphasized that it's achievable through his process: Organize, Plan, Action, and Believe. The key is to choose a niche that's easy to replicate and delegate.

Arnel Guardian-Espayos, do you think we can pull this off?
Who knows—aral ka muna ng Bookeeping, hehe.

I’m incredibly thankful for this webinar—not just for the valuable knowledge, but also because it was all for a great cause, supporting Carina Relief.

10/08/2024

𝐖𝐡𝐨 𝐬𝐚𝐲𝐬 𝐰𝐞 𝐜𝐚𝐧'𝐭 𝐮𝐧𝐝𝐨 𝐚 𝐫𝐞𝐜𝐨𝐧𝐜𝐢𝐥𝐞𝐝 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐐𝐮𝐢𝐜𝐤𝐁𝐨𝐨𝐤𝐬 𝐎𝐧𝐥𝐢𝐧𝐞? I thought the same thing! But thanks to Coach Roma Borromeo, I now know it's possible to undo reconciled transactions using the Accountant tools in the QBO Accountant account.

No more exhausting trips to the bank register, changing every transaction status from Reconciled to Categorized, especially when dealing with thousands of transactions. This tip has been a lifesaver in cleaning up the books!

I’m incredibly thankful for this webinar—not just for the valuable knowledge, but also because it was all for a great cause, supporting Carina Relief.

10/08/2024

Handling 𝐦𝐮𝐥𝐭𝐢𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐐𝐮𝐢𝐜𝐤𝐁𝐨𝐨𝐤𝐬 𝐎𝐧𝐥𝐢𝐧𝐞 (𝐐𝐁𝐎) can be challenging. It's a complicated process, and sometimes it feels like more hassle than it's worth. But I'm so grateful to have learned from the best! A huge thank you to Sir Nikkie John Abilar, who shared his expertise during the webinar. He's truly a 𝐐𝐁𝐎 𝐌𝐮𝐥𝐭𝐢𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐞𝐱𝐩𝐞𝐫𝐭.

One valuable tip he gave us was about managing foreign currency transactions in QBO, which can't directly process foreign currency to foreign currency. His solution? Create a temporary clearing account—it’s a game-changer!

I’m really thankful for this webinar, not just for the knowledge, but also because it was all for a great cause, supporting Carina Relief.

03/08/2024

I recently learned some fascinating insights about Canadian taxation and found out that over 2.6 million people in Canada are self-employed and need bookkeepers in various industries. This is a huge opportunity for us!

A big shoutout to Sir Mark for sharing the secrets to getting clients in Canada. The key points? We need to speak the accounting language, follow Canadian practices, and keep learning.

I'm grateful for the webinar "From Online to Lifeline: Leveraging Our Skills for Carina Relief." It was a great way to expand our knowledge and support a good cause.

Let’s keep growing our skills and helping businesses in Canada thrive!

25/07/2024

𝐏𝐇 𝐁𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐚𝐧𝐝 𝐭𝐚𝐱𝐚𝐭𝐢𝐨𝐧 𝐜𝐚𝐧 𝐧𝐨𝐰 𝐛𝐞 𝐚𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐰𝐢𝐭𝐡 𝐁𝐞𝐩𝐩𝐨, 𝐩𝐨𝐰𝐞𝐫𝐞𝐝 𝐛𝐲 𝐉𝐮𝐚𝐧𝐓𝐚𝐱, 𝐭𝐡𝐞 𝐜𝐨𝐮𝐧𝐭𝐫𝐲'𝐬 𝐟𝐢𝐫𝐬𝐭 𝐁𝐈𝐑-𝐂𝐄𝐑𝐓𝐈𝐅𝐈𝐄𝐃 𝐞𝐓𝐒𝐏. 🎉

With just 𝐚 𝐜𝐥𝐢𝐜𝐤 𝐨𝐟 𝐚𝐧 𝐢𝐧𝐯𝐨𝐢𝐜𝐞 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐲𝐨𝐮𝐫 𝐩𝐡𝐨𝐧𝐞, all your data is seamlessly transported to your accounting software. 📱➡️💻 This innovation is set to 𝐬𝐢𝐦𝐩𝐥𝐢𝐟𝐲 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐥𝐞𝐱𝐢𝐭𝐢𝐞𝐬 𝐨𝐟 𝐥𝐨𝐜𝐚𝐥 𝐛𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠, making our lives so much easier.

Thank you to 𝐃𝐈𝐂𝐓 for this free webinar on Streamlining Bookkeeping and Accounting Support for Digital Transformation! 🙏

𝐒𝐚𝐲 𝐠𝐨𝐨𝐝𝐛𝐲𝐞 𝐭𝐨 𝐦𝐚𝐧𝐮𝐚𝐥 𝐞𝐧𝐭𝐫𝐢𝐞𝐬 𝐚𝐧𝐝 𝐡𝐞𝐥𝐥𝐨 𝐭𝐨 𝐞𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭, 𝐚𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐛𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠! 🚀💼

13/07/2024

📊💡 Just attended a great webinar on the 𝐛𝐚𝐬𝐢𝐜𝐬 𝐨𝐟 𝐏𝐇 𝐓𝐚𝐱 with Ms. April! 🌟

After 10 years in business with my husband, we've always found filing taxes challenging. This session was really helpful, and Ms. April explained everything so clearly. 𝐈𝐭 𝐞𝐯𝐞𝐧 𝐠𝐨𝐭 𝐦𝐞 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐥𝐨𝐜𝐚𝐥 𝐛𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠! 🧾📚

Thank you, Glenn, for sharing this with me. You're such a great help in my journey. 💪

Looking forward to making our tax filing smoother and more efficient.

17/06/2024

𝗔 𝗝𝗼𝘂𝗿𝗻𝗲𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗶𝗻𝗱: 𝗠𝘆 𝗟𝗼𝘃𝗲 𝗳𝗼𝗿 𝗥𝗲𝗮𝗱𝗶𝗻𝗴 𝗮𝗻𝗱 𝗦𝘁𝘂𝗱𝘆𝗶𝗻𝗴

I’ve had a special way of traveling to new worlds, meeting amazing characters, and satisfying my endless curiosity.
This special way? 𝐑𝐞𝐚𝐝𝐢𝐧𝐠 𝐚𝐧𝐝 𝐬𝐭𝐮𝐝𝐲𝐢𝐧𝐠. I know it might sound boring to some people, but for me, it’s as exciting as any adventure.
Let me share my journey with you, where books and learning have taken me on countless exciting trips.
It all started when I was in grade two. I borrowed a book of Bible stories from Megan, a friend who was around my age. I remember lying on the floor with the book open to the part where Apostle Paul was blinded for persecuting early Christians and Stephen was stoned to death. I even fell asleep with the book still open. The characters and events felt so real to me, almost like they were alive.
I was so curious about everything, like the wild beast with seven heads in the Revelation book. I asked my sister and mom lots of questions, but they didn’t take me seriously.
Back then, we didn’t have the internet, so I did my research using encyclopedias. I got really interested in science books and still remember learning about photosynthesis- the green pigment in plants. I know it might seem strange to others, but 𝐫𝐞𝐚𝐝𝐢𝐧𝐠 𝐰𝐚𝐬 𝐦𝐲 𝐠𝐚𝐭𝐞𝐰𝐚𝐲 𝐭𝐨 𝐚 𝐰𝐨𝐫𝐥𝐝 𝐨𝐟 𝐞𝐧𝐝𝐥𝐞𝐬𝐬 𝐰𝐨𝐧𝐝𝐞𝐫.
As soon as I learned how to read in grade one, my life changed. Daycare and kindergarten were filled with singing and dancing, not reading. My favorite part of daycare was the champorado they served before sending us home. But once I could read, I was unstoppable.
In elementary school, my love for reading really took off. We had a monthly subscription to Awake! magazine and I eagerly awaited the mailman’s arrival with the latest issue. Each new magazine was like a treasure full of knowledge and stories.
This passion for reading and studying has been a constant in my life. It made school enjoyable rather than a chore. As a Christian, it helped me prepare comments for meetings and ministry without any trouble. Treating reading and studying as a hobby has made my life easier, both in regular school and religious studies. Even now, as I study bookkeeping, daily studying feels like a natural part of my routine. It’s not a chore because I genuinely enjoy it. This hobby has enriched my life, making learning a pleasant and rewarding experience.
For me, the thrill of reading and studying has always been enough. 𝐓𝐡𝐞 𝐰𝐨𝐫𝐥𝐝𝐬 𝐈’𝐯𝐞 𝐞𝐱𝐩𝐥𝐨𝐫𝐞𝐝, 𝐭𝐡𝐞 𝐜𝐡𝐚𝐫𝐚𝐜𝐭𝐞𝐫𝐬 𝐈’𝐯𝐞 𝐦𝐞𝐭, 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐤𝐧𝐨𝐰𝐥𝐞𝐝𝐠𝐞 𝐈’𝐯𝐞 𝐠𝐚𝐢𝐧𝐞𝐝 𝐡𝐚𝐯𝐞 𝐦𝐚𝐝𝐞 𝐦𝐲 𝐥𝐢𝐟𝐞 𝐫𝐢𝐜𝐡𝐞𝐫 𝐚𝐧𝐝 𝐦𝐨𝐫𝐞 𝐜𝐨𝐥𝐨𝐫𝐟𝐮𝐥. And I wouldn’t trade that for anything.

22/05/2024

𝐀𝐑𝐄 𝐘𝐎𝐔 𝐃𝐑𝐎𝐖𝐍𝐈𝐍𝐆 𝐈𝐍 𝐅𝐈𝐍𝐀𝐍𝐂𝐈𝐀𝐋 𝐂𝐎𝐍𝐅𝐔𝐒𝐈𝐎𝐍, 𝐓𝐀𝐗 𝐓𝐈𝐌𝐄 𝐓𝐄𝐑𝐑𝐎𝐑𝐒, 𝐀𝐍𝐃 𝐂𝐀𝐒𝐇 𝐅𝐋𝐎𝐖 𝐂𝐇𝐀𝐎𝐒?

𝗟𝗲𝘁’𝘀 𝗺𝗮𝗸𝗲 𝘀𝘂𝗿𝗲 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗻𝗼𝘁 𝗼𝗻𝗹𝘆 𝘀𝘂𝗿𝘃𝗶𝘃𝗲𝘀 𝗯𝘂𝘁 𝘁𝗵𝗿𝗶𝘃𝗲𝘀.

Running a 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 is tough enough without drowning in paperwork. If you’re handling your own books, you might be feeling overwhelmed. The financial confusion, the tax season nightmares, and the cash flow chaos can be too much to bear.

Without a bookkeeper, these problems can lead to financial instability and missed growth opportunities. The stress alone can take a toll on you and your business. In the worst-case scenario, it could even mean shutting down.

But it doesn’t have to be this way. By investing in professional bookkeeping, you can get back to what you do best – providing amazing cleaning services.

Let's talk! If you want a free audit walk-through, drop me an email at [email protected].

24/04/2024

Feeling incredibly grateful to share that I've completed the 𝐗𝐄𝐑𝐎 𝟑𝟎-𝐝𝐚𝐲 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞.🎉 It's been a fantastic opportunity to dive deep into 𝒃𝒐𝒐𝒌𝒌𝒆𝒆𝒑𝒊𝒏𝒈.📚💼 Here's to 𝒄𝒐𝒏𝒕𝒊𝒏𝒖𝒐𝒖𝒔 𝒊𝒎𝒑𝒓𝒐𝒗𝒆𝒎𝒆𝒏𝒕 and making a meaningful difference.

19/04/2024

𝑰𝒎𝒂𝒈𝒊𝒏𝒆 𝒚𝒐𝒖'𝒓𝒆 𝒕𝒂𝒌𝒊𝒏𝒈 𝒂 𝒓𝒐𝒂𝒅 𝒕𝒓𝒊𝒑.🏞🚗
𝐁𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠 is like having a 𝐆𝐏𝐒 🧭 that helps you 𝐧𝐚𝐯𝐢𝐠𝐚𝐭𝐞 𝐲𝐨𝐮𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐞𝐬.💵 It keeps you on track by showing you where you've been (your 𝐢𝐧𝐜𝐨𝐦𝐞 𝐚𝐧𝐝 𝐞𝐱𝐩𝐞𝐧𝐬𝐞𝐬), and where you are now (𝐲𝐨𝐮𝐫 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐬𝐢𝐭𝐮𝐚𝐭𝐢𝐨𝐧), and helps you plan where you want to go (𝐲𝐨𝐮𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐠𝐨𝐚𝐥𝐬). Just like how a GPS helps you reach your destination efficiently, 𝒃𝒐𝒐𝒌𝒌𝒆𝒆𝒑𝒊𝒏𝒈 𝒉𝒆𝒍𝒑𝒔 𝒚𝒐𝒖𝒓 𝒔𝒎𝒂𝒍𝒍 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔 𝒔𝒕𝒂𝒚 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍𝒍𝒚 𝒉𝒆𝒂𝒍𝒕𝒉𝒚 𝒂𝒏𝒅 𝒓𝒆𝒂𝒄𝒉 𝒊𝒕𝒔 𝒈𝒐𝒂𝒍𝒔 𝒔𝒎𝒐𝒐𝒕𝒉𝒍𝒚.📈

06/03/2024

Just finished up my 𝐐𝐮𝐢𝐜𝐤𝐁𝐨𝐨𝐤𝐬 𝐎𝐧𝐥𝐢𝐧𝐞 𝟑𝟎-𝐝𝐚𝐲 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞. It's been a valuable learning experience❤️ Excited to utilize these new skills to 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐚𝐧𝐝 𝐝𝐫𝐢𝐯𝐞 𝐬𝐮𝐜𝐜𝐞𝐬𝐬.

24/02/2024

Thank you for your unwavering support my dear hubby😘

24/01/2024

My OBME (Online Bookkeeping Made Easy) Journey❤️

18/01/2024

25/11/2023

A Chart of Accounts is vital because it acts as the backbone of a company's financial system. It helps organize and classify financial transactions, making it easier to track income, expenses, assets and liabilities. This enables accurate financial reporting, facilitates analysis, and provides insight for making informed business decisions.

31/10/2023

Did you notice the mnemonic DEALER?
It stands for Dividends, Expenses, Assets, Liability, Equity, and Revenue.

Dividends, Expenses, and Assets are on the left side of the equation. (DEBITS)
Liabilities, Equity, and Revenue are on the right side of the equation. (CREDITS)

Here are the RULES of DEBITS and CREDITS;

Increase in ASSET is DEBIT; Decrease in ASSET is CREDIT
Increase in LIABILITY is CREDIT; Decrease in LIABILITY is DEBIT
Increase in EQUITY is CREDIT; Decrease in EQUITY is DEBIT
Increase in INCOME is CREDIT; Decrease in INCOME is DEBIT
Increase in EXPENSE is DEBIT; Decrease in EXPENSE is CREDIT

29/10/2023

Accounting is the process of recording, organizing, and summarizing financial transactions of a business or individual. It helps track money coming in and going out, providing a clear picture of financial health and enabling informed decisions.

24/10/2023

The accounting equation is a fundamental principle of accounting that states that the total value of an entity's assets must equal the total value of it's liabilities plus its equity. This equation is used to ensure that companies' financial statements are accurate.

18/10/2023

What are the components of Financial Statement?

ASSETS- any resource with financial value that
a business owns or control.
LIABILITIES- are debts or obligations a person or company owes to someone else.
EQUITY- the amount of money that the company's owner has put into it or owns. (Owner's Capital)
INCOME- money that an individual or organization receives in return for their services or goods
EXPENSES- cost that businesses incur in running their operations.

16/10/2023

In a matter of income recognition, no matter how sure the businessman in capturing the bird in the bush the accountant must see it in the eye.

10/10/2023

Accounting Principles are important because they help record financial data accurately and aid legal compliance.

05/10/2023

The title "Father of Accounting" is often attributed to Luca Pacioli, an Italian Mathematician who lived during the Renaissance Period. In 1494, he published a book which included a section on double-entry bookkeeping. This section outlined the fundamental principles of modern accounting including concepts such as assets, liabilities, equity, income and expense.