One of the biggest compaints about QuickBooks for Mac has been that it didn’t have multi-user functionality.Â Complain no more!Â The 2011 edition is multi-user friendly.Â Hooray!Â Checkout all the great new features in 2011 here: QuickBooks for Mac 2011 Press Release.
- How to set up your PayPal account in QuickBooks.
- How to apply PayPal payments to customer invoices.
- How to record PayPal fees.
- How to record payments from your PayPal account to vendors.
- How to record deposits into your checking account from PayPal.
I have clients using QuickBooks for Mac.Â I like to work from my office and they like to keep QuickBooks on their machine.Â Of course, I can take control of their machine with any number of applications and do my work directly on their machine.
An easier, free method is to simply share the data file using a Dropbox.Â With this method, each computer will have its own copy of QuickBooks for Mac and will simply open the data file stored in the Dropbox.
There are a couple of ways to handle customer deposits in QuickBooks.
Method 1: Receive Payment Without Applying to an Invoice
If the customer hands you a check you, can simply receive the payment without applying it to an invoice. This will create a credit on their account. While this method will allow you to apply the credit to the project invoice, it usually isnâ€™t the best way to handle the situation.
Iâ€™ve been supporting the accounting needs of mac users for quite some time. Until last week, I was using my mac mini to help those clients. I foolishly bought a mac mini because I already had a pc laptop and, like it or not, most accounting is done on the pc platform.Â And I didnâ€™t want to spend the money fully transition.
Last week, a windows update corrupted my computer. I donâ€™t know whatâ€™s wrong with it. It has numerous issues and Iâ€™ll have to reinstall the operating system (man, I hate Vista). To get up and running quickly, I transitioned to the mac mini.
I LOVED it (except being chained to my desk and only having one monitor). I said â€œto heck with the budget, I NEED a MacBookâ€. Seriously. I know, Iâ€™m an accountant. I reason that Iâ€™m much more efficient on one machine rather than two. Plus cut and paste between the virtual machine and the mac is awesome!
Want to know my biggest beef with QuickBooks?Â Well, really with the Intuit, “the makers of QuickBooks”.Â It’s the marketing.Â They constantly tell business owners that no accounting knowledge is necessary.
Don’t get me wrong, I think a lot of the data entry could and should be done by administrative clerks or do it yourself business owners.Â I just think it’s a huge mistake to run a business based on incorrect financial information.Â If you don’t know accounting, there’s a pretty good chance you’re not getting accurate, helpful information from your books (garbage in, garbage out).
In this economy, business owners need to stay on top of their financials.Â That means actually using the data you entered into QuickBooks.Â However, if the QuickBooks data is wrong, you’re using bad information to make decisions.
Finally!Â Mac users can use QuickBooks online.Â Previously, QuickBooks Online only worked with internet explorer.Â This week, Intuit finally released the online version that works on Firefox and soon will work with Safari.Â Hip Hip Hooray!Â There’s now a multi-user QuickBooks version for mac users.
I work with small business owners to help them get their accounts receivable under control.Â Very often, there is a stack of past due accounts receivable.Â I immediately question whatâ€™s happening.Â Generally, the answer is â€œI havenâ€™t had time to follow up with them.â€Â I immediately get to work on the follow up calls.
Most of the time (at least 80%), the customer responds â€œI never got that invoiceâ€.Â There are a couple of ways FreshBooks will stop that response or at least give you ammunition.Â First, when you use FreshBooks to email your invoices, your customer has to click a link to view it.Â On your admin panel, you can see who logged in and what invoices they viewed (this shows up on your dashboard, so you see it immediately upon logging in).Â You will know if your customer is lying to you.