| dcammue | !createmeeting General_Saturday_Meetin 3:30 03 08 ET 2025 | 08:09 |
|---|---|---|
| Websterss_ | Invalid arguments. | 08:09 |
| dcammue | !createmeeting General-Saturday-Meetin 3:30 03 08 ET 2025 | 08:10 |
| Websterss_ | Invalid arguments. | 08:10 |
| dcammue | !startmeeting GeneralSaturdayMeeting | 08:11 |
| Websterss_ | Meeting 'GeneralSaturdayMeeting' is now active. | 08:11 |
| dcammue | !add update from the bookkeepers on their past studies by Daniel and Shallon. | 08:19 |
| Websterss_ | Agenda item added to meeting 'GeneralSaturdayMeeting': update from the bookkeepers on their past studies by Daniel and Shallon. (added by dcammue) | 08:19 |
| dcammue | !agenda | 08:19 |
| Websterss_ | Agenda for meeting 'GeneralSaturdayMeeting': | 08:19 |
| dcammue has quit (Quit: Connection closed for inactivity) | 10:28 | |
| gabriel_jetro | Greetings, jelkner and everyone | 19:57 |
| svaye has quit (Ping timeout: 480 seconds) | 20:06 | |
| gabriel_jetro has quit (Ping timeout: 480 seconds) | 20:06 | |
| dcammue | Good evening and good afternoon to all | 20:14 |
| svaye_ | Good evening | 20:14 |
| svaye_ | Go to the novaweb chat | 20:15 |
| dcammue | Hi Jelkner | 20:30 |
| bluberry has quit (Ping timeout: 480 seconds) | 20:30 | |
| dcammue | Can we chat here for a couple of minutes | 20:30 |
| svaye_ | Try sending it in the novaweb chat room, he might see it and come here | 20:32 |
| svaye_ | dcammue, | 20:32 |
| dcammue | Okay | 20:32 |
| jelkner | yes dcammue | 20:34 |
| jelkner | i'm here | 20:34 |
| jelkner | good thinking svaye_ | 20:34 |
| dcammue | Okay | 20:35 |
| dcammue | For the bot switching was completed by mulbah and gabriel_ | 20:35 |
| dcammue | Yesterday | 20:36 |
| dcammue | So I created a meeting and started the meeting also | 20:36 |
| dcammue | I do added one item to the agenda | 20:36 |
| dcammue | But if you have any other items you can add them | 20:37 |
| jelkner | dcammue, for which meeting? | 20:37 |
| dcammue | For next Saturday | 20:37 |
| dcammue | Which is day after tomorrow | 20:37 |
| jelkner | !help | 20:37 |
| Websterss_ | Available commands: !add, !agenda, !ask, !createmeeting, !endmeeting, !help, !listmeetings, !remove, !sethost, !startmeeting, !stopmeeting | 20:37 |
| jelkner | !listmeetings | 20:37 |
| Websterss_ | 📅 Scheduled meetings: | 20:37 |
| Websterss_ | - Meeting ID: 04team_meeting Time: 032025-10-01 10:00:00 Host: 02mulbah | 20:37 |
| jelkner | wow, that's a lot of meetings! ;-) | 20:38 |
| dcammue | Yes | 20:38 |
| jelkner | this is a great opportunity for us, dcammue | 20:38 |
| jelkner | we are learning to develop software! | 20:38 |
| dcammue | We were trying to get things done the right way | 20:38 |
| jelkner | i want to file some issue / feature requests for the irc bot | 20:38 |
| jelkner | and i put on our novaweb meeting today to do that | 20:39 |
| jelkner | oh, btw, i need to tell you all | 20:39 |
| jelkner | Sunday we switch times here | 20:39 |
| jelkner | we will be four hours different during the summer, not five | 20:39 |
| jelkner | starting sunday | 20:39 |
| dcammue | So will the time for the meeting be changed right | 20:40 |
| jelkner | yes, dcammue | 20:40 |
| jelkner | sadly, we have to make you all change your schedules | 20:41 |
| jelkner | since we can't | 20:41 |
| dcammue | Okay, but I think it will not affect the meeting time | 20:41 |
| jelkner | even though it is our "fault" things are changing | 20:42 |
| jelkner | our time changes | 20:42 |
| jelkner | and you need to match our new times | 20:42 |
| dcammue | So the meeting time will be 2:30 instead 3:30 | 20:42 |
| dcammue | For our time | 20:42 |
| jelkner | +1 | 20:43 |
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| dcammue | Will ved be here the for meeting? | 20:46 |
| svaye_ has quit (Ping timeout: 480 seconds) | 20:46 | |
| jelkner | ved just arrived | 20:46 |
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| dcammue | Is he the ledmer? | 20:48 |
| ledmer | ? | 20:48 |
| ledmer | No, I'm Luis Garces | 20:48 |
| ledmer | ved will join soon | 20:48 |
| Ved | Hello | 20:49 |
| jelkner | there is freena! | 20:52 |
| jelkner | ACTION jumps to the other channel to talk to freena | 20:52 |
| dcammue | Hi ved | 20:56 |
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| svaye__ | Hi Ved | 20:57 |
| Ved | hello | 20:58 |
| svaye__ | I sent you the email yesterday | 20:58 |
| Ved | let me check | 20:58 |
| svaye__ | How are you doing | 20:58 |
| Ved | I dont think I got anything | 20:58 |
| Ved | Good, and you? | 20:58 |
| svaye__ | I am good | 20:59 |
| dcammue | Okay | 20:59 |
| svaye__ | I have been reading and watching videos on bookkeeping, so if you have a task for me I would like to practice what I have learned | 21:00 |
| Ved | thats great | 21:00 |
| Ved | sure | 21:00 |
| Ved | could you resend the email? | 21:00 |
| Ved | what email are you sending it to? | 21:00 |
| dcammue | I just want to walk you through the process of some basic bookkeeping, which I have some understanding of. | 21:02 |
| svaye__ | ved.chudiwale@novawebdevelopment.org I sent it to this email | 21:02 |
| dcammue | Also, let me know about something that I may not be emphasising on correctly | 21:04 |
| Ved | sure | 21:04 |
| Ved | ved.chudiwale@novawebdevelopment.org | 21:05 |
| Ved | ved.chudiwale@novawebdevelopment.org | 21:05 |
| Ved | ved.chudiwale@novawebdevelopment.org | 21:05 |
| Ved | could you try resending the email | 21:05 |
| dcammue | Can we start now? If you are done with svaye__ issue | 21:05 |
| Ved | im not sure why i didn't get it | 21:05 |
| Ved | sure | 21:05 |
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| Ved | what did you need? | 21:09 |
| gabriel__ has left #jetrowebdev (Leaving) | 21:09 | |
| svaye__ | I just send you the email Ved | 21:11 |
| dcammue | Okay, like I said earlier, I want us to share ideas on bookkeeping basis | 21:12 |
| dcammue | svaye__: will be part? | 21:12 |
| Ved | svaye_ i did not get the email | 21:13 |
| Ved | could you try sending the email to vedvarunc@gmail.com | 21:14 |
| Ved | dcammue yes | 21:14 |
| Ved | we should have a doc where we can put our ideas | 21:14 |
| dcammue | Please, doc means document? | 21:17 |
| Ved | yes | 21:17 |
| gabriel_ | my computer is about to power-down, everyone.. | 21:17 |
| Ved | a google document | 21:17 |
| Ved | or something else | 21:17 |
| dcammue | Yes | 21:19 |
| dcammue | But I just want us to lecture here first | 21:19 |
| Ved | okay sure | 21:20 |
| Ved | what did you want to talk about first | 21:20 |
| dcammue | I just want to share my idea | 21:20 |
| gabriel__ has quit (Ping timeout: 480 seconds) | 21:20 | |
| dcammue | And you need to tell me, no this is not so and this is so | 21:21 |
| svaye__ has quit (Ping timeout: 480 seconds) | 21:21 | |
| dcammue | So, before I start | 21:21 |
| dcammue | We look at the word itself call bookkeeping | 21:21 |
| Ved | sure | 21:21 |
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| dcammue | Which means, the process of recording and organising financial transactions that has been or that a company performed daily | 21:23 |
| dcammue | With accuracy, | 21:23 |
| dcammue | In so doing, it a company start a business as starter or at the initial stage | 21:24 |
| dcammue | It cash or account balance is 0 | 21:25 |
| dcammue | If the company owner or owners do a investment | 21:25 |
| dcammue | It affects the cash and the owner capital at first | 21:26 |
| dcammue | Meaning the company owners have made a investment into the business to start operating or operations | 21:27 |
| dcammue | But firstly | 21:27 |
| dcammue | Bookkeeping is also related to accounting some how | 21:28 |
| dcammue | Where we have the equation that says assets equal liabilities plus owners ewuity | 21:29 |
| Ved | bookkeeping is a part of accounting | 21:29 |
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| dcammue | Yes | 21:29 |
| mulbah | Hello everyone | 21:29 |
| dcammue | But it is limited to accounting level | 21:29 |
| Ved | dcammue and svaye_ do you want to go on a new irc channel? | 21:30 |
| Ved | there is a lot going on here | 21:30 |
| dcammue | If you want my Friend | 21:30 |
| svaye_ | sure | 21:30 |
| Ved | okay can one of you create it | 21:31 |
| dcammue | Where do you want us to go | 21:31 |
| mulbah | msg NickServ IDENTIFY Mulbah07@ | 21:34 |
| Ved | anywhere. is it possible to make a new channel? | 21:35 |
| Ved | im not sure hwow to do it | 21:36 |
| svaye_ | mulbah is it possible for us to use a new channel | 21:37 |
| mulbah | sure | 21:37 |
| mulbah | join "accict" | 21:38 |
| Ved | svaye_ for some reason i haven't gotten any of your emails so something is going wrong | 21:38 |
| Ved | i joined accict | 21:39 |
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| dcammue | I can join that channel | 21:44 |
| dcammue | I can not | 21:44 |
| Ved | hm | 21:46 |
| svaye_ | join the channel dcammue | 21:49 |
| Ved | whats the issue dcammue? | 21:49 |
| Ved | are you doing #accict for the channel | 21:50 |
| Ved has quit (Remote host closed the connection) | 21:50 | |
| dcammue | I am using my phone so to join the channel is kind of difficult | 21:50 |
| dcammue | No electricity at my place | 21:51 |
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| ved | ? | 21:54 |
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| dcammue | Svaye please send me invite link to the accict channel | 22:03 |
| ved | ok | 22:05 |
| ved | nvm lets just do it here | 22:06 |
| ved | whatever | 22:06 |
| ved | is svaye_ here | 22:06 |
| dcammue | She's here but not knowing if paying attention | 22:07 |
| dcammue | Okay as I was saying | 22:08 |
| ved | ok | 22:08 |
| ved | yes continue | 22:08 |
| dcammue | We bookkeeping and accounting has few processes in common | 22:09 |
| svaye__ | I am here | 22:09 |
| dcammue | Like, we have the equation that says, assets equal liabilities plus owners equity | 22:10 |
| dcammue | Assets has fewer accounts that are associated with it | 22:11 |
| dcammue | Like: cash, accounts receivable, supplies and equipment | 22:12 |
| dcammue | For liabilities, it has accounts like accounts payable, note payable unearned revenue | 22:13 |
| dcammue | Where owners equity consists of owners capital, owners drawing and revenue and expenses | 22:14 |
| dcammue | If you are an accountant or a bookkeeper, and you received a transaction from a company | 22:15 |
| dcammue | That says, VED-COMPANY invested 15,000 in a new clothes business | 22:17 |
| dcammue | There will be two accounts affected | 22:17 |
| dcammue | Svaye can you come in? And tell us what are those accounts | 22:18 |
| dcammue | svaye? | 22:19 |
| dcammue | Okay, let me continue. Maybe she not paying attention for now. | 22:20 |
| dcammue | We will have the cash and the owners capital accounts affected | 22:20 |
| dcammue | Cash will be debited and owners capital will be credited | 22:21 |
| dcammue | And this transaction will be firstly recorded in the tabular form | 22:22 |
| dcammue | If you purchase supplies or equipment on credit or cash, it will be | 22:24 |
| dcammue | On supplies account, if it is equipment it will be on equipment account under assets | 22:25 |
| dcammue | If the transaction was done on cash, cash will be credited and and supplies or equipment will be debited | 22:27 |
| dcammue | If it was on credit, it will be accounts payable that will be credited | 22:28 |
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| dcammue | Let me tell you first. All assets accounts has normal debit balance, liabilities had normal credit balance and owners equity has normal credit balance as well | 22:30 |
| dcammue | I will do it shortly because my phone is running down | 22:31 |
| dcammue | Are you here ved | 22:31 |
| ved | yes i am | 22:31 |
| dcammue | Okay | 22:31 |
| ved | sounds good | 22:31 |
| dcammue | If you are done recording the transactions that the company performed in a particular month, in the tabular form, you move all your statement in the general journal | 22:33 |
| dcammue | The general journal is where you will be charge to identify what account from the tabular is debited or credited | 22:34 |
| dcammue | After the journal, you move you transactions to the ledger which is call posting | 22:35 |
| dcammue | Ledger also means T-Accounting | 22:36 |
| dcammue | Where the left side ot the t account is the debit and the right side is the credit | 22:37 |
| dcammue | You post the the ledger accounts for various balance from the different accounts from the journal | 22:38 |
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| dcammue | After getting those accounts balances, you do you trial balance | 22:39 |
| dcammue | This trial balance helps you to find the income statement. Which gives net income or net loss | 22:40 |
| dcammue | And also from the trial balance you can tell the company financial position and know the total owner equity at the end of the month | 22:42 |
| dcammue | I have 2% battery power | 22:43 |
| dcammue | So I will end here for today | 22:43 |
| dcammue | If you would like to impact me with some knowledge | 22:43 |
| dcammue | I will appreciate | 22:44 |
| svaye_ | I am sorry dcammue when you called me I was doing some school work | 22:44 |
| dcammue | Okay | 22:44 |
| dcammue | ved | 22:44 |
| ved | hi | 22:45 |
| ved | ys | 22:45 |
| ved | seems like you know a good bit | 22:45 |
| ved | however i think this may be slightly more advanced than what we are trying to do | 22:46 |
| ved | great work for sure. and i think this sets a good base | 22:46 |
| ved | but remember our main task will be to do bookkeeping for secosol | 22:46 |
| ved | which is just a small non profit | 22:46 |
| ved | so i would want to start with the super basics for it and then slowly start to incorporate "advanced" bookkeeping once we have a good foundation set up | 22:47 |
| svaye_ | from what I have learned is somehow different from what we learn in our accounting class | 22:48 |
| ved | how so? | 22:48 |
| dcammue | Yes ved | 22:50 |
| svaye_ | In accounting class we learn about running a business, while bookkeeping for a nonprofit is different | 22:51 |
| dcammue | But you have to be as ready as a running horse to do both non-profit and for-profit bookkeeping | 22:52 |
| ved | haha true | 22:52 |
| ved | svaye_ how is it different exactly? | 22:52 |
| dcammue | We are learning both non-profit and for-profit bookkeeping | 22:53 |
| svaye_ | for business their transactions are driven by sales, investment, expenses, and returns their aim is to generate more revenue than expenses, while nonprofit organizations focus on fulfilling a mission rather than making profit they get money throug donations Grants membership due and other ways best for the organization\ | 22:56 |
| dcammue | Where we have cash and donation to be affected for the money received by the non-profit organisation instead cash and owner capital for for-profit organisation | 22:57 |
| dcammue | Okay, see you guys tomorrow or Saturday | 22:58 |
| dcammue | Svaye I will send you a message soon | 22:59 |
| dcammue | Concerning our update on Saturday | 22:59 |
| svaye_ | Revenue collected by a for profit organization can be used by that organization the best way possible while non-profits organization use their donations based on how the donors want it that is to fulfill a particular mission. | 23:00 |
| svaye_ | Alright dcammue | 23:00 |
| svaye_ | ved, | 23:01 |
| ved | i see | 23:01 |
| ved | oh well yes that is correct for the most part | 23:02 |
| svaye_ | I would love to stay and chat more but my computer is at 4%, so I might go off at any time | 23:03 |
| ved | nonprofits focus on funding their mission through donations, grants, and membership fees | 23:03 |
| ved | okay no problem. lets continue this weekend | 23:04 |
| ved | dcammue send me an email | 23:04 |
| ved | and ill give you both some practice work | 23:04 |
| svaye_ | Alright thank you | 23:04 |
| dcammue | Okay | 23:04 |
| ved | have a good day guys | 23:05 |
| ved | bye | 23:05 |
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| svaye_ | ACTION signs off | 23:06 |
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