Kibbles Bytes 779: Mac Treat 181, Quickbooks For Mac
I am forced to use Quickbooks for Mac, and have been for 10 years or more, as our accounting agency requires it for tax preparation purposes. Intuit, maker of Quickbooks, has a near-monopoly on this industry.
So they can treat their customers as if they are of no consequence. They can make their software stop working after 2 or 3 years, forcing you to upgrade. After this final version of Quickbooks Desktop for Mac 2016, they will try to force us to their online version, which costs (at the moment) $40./month.
That will go up in price once they get us signed up, we can be sure. My 2014 Quickbooks for Mac suddenly stopped working today. It was working fine yesterday, it imported files I need as it had since purchase. But today, it suddenly generated a message telling me to upgrade. No way to import files I need. I had not updated the OS or anything. It simply stopped at an arbitrary date set by Intuit.
Somewhat like an addict, hating myself all the way to the dealer, I am forced to buy the latest version if I want to get some accounting done today, this week, next month. At least it’s 20 bucks cheaper here than what Intuit was offering me as a 'special deal' at their own web site. You'd think it would be the other way around, but this is Intuit. On top of reaming customers every chance they get, Intuit has terrible customer service. Just try calling them sometime. Best of luck with that. If you are not already “hooked”, look for some other solution for your accounting.
There aren’t a lot of options unless you want to go back to ledger books. My one hope is that, as with past arrogant companies left in the dust, a software engineer will disrupt this system by offering a “better way” for Mac users, or an online version that doesn’t break the bank. I don’t know if that is realistic, but I keep hoping. I despise this company, Intuit, more than any I’ve ever dealt with.
I’m a pretty tolerant guy otherwise, but they really get my goat. You don’t have to take my word for it though, just browse the reviews here, and for their previous versions, or look at their online reviews elsewhere. At least I'm not alone in my low opinion of this company.
Kibbles Bytes 779 Mac Treat 181 Quickbooks For Mac
I agree with the reviewer who called this Ransomware. Like many others, I was forced to buy this when Quickbooks for Mac 2013 no longer opened or functioned after upgrading my Mac to Sierra. No warning, nothing. The good thing is, QB 2016 can convert the company data file from the 2013 one to a 2016 compatible one.
That is the only reason for the 2nd star. Otherwise it wouldn't deserve even that. The bad thing is. Everything else. I have 750 GB all-flash storage and 16 GB memory, and this software consumes resources to a crazy extent. It also crashes at least a dozen times per day, usually more than that.
Ironically, when Quickbooks 2016 crashes, it's so royally crashed that it won't even allow you to send a Crash Report. All you can do is a Force Quit, then reopen Quickbooks and hope you can re-do whatever you were trying to enter.
You might get another half hour out of it before it crashes again. There is no consistency to the crashes. I've had it happen when entering every kind of data - customers, jobs, invoices, payments, bank transactions, A/R, etc. I also agree with the reviewer who suggested that if you have been considering switching to different accounting software, now is a good time to do it.
'I was taught by other franchise partner that instead of deposing the money into our trust account, I can just pay the cash toward the credit card since I paid the supplier already,' I cannot speak to Canadian Trust Accounting requirements. In the US, if this is a Trust Accounting event, you still have to manage these are Separate tasks: You used your credit card, so you enter it as I explained. Now you are covering the Functional aspect of what is On that detail entry. You Paid for a cost that is not your expense = Advanced costs, such as a Law firm would pay for a Medical Consultant in an Injury law suit.
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That means your Credit Card entry is posted using an Item linked to an Other Current Asset account for 'Advanced Costs.' You 'track' this as Billable to the Client name. Advanced Costs items are 'single-sided' so that they only have the One account link. Any time a client gives you funds for Trust (not for paying their charges), that is deposited to Trust Bank and recorded as Liability. Money only moves in and out of Trust Bank as Liability. That means using a Trust Liability item on the Sales Receipt, for the name of the client giving you money.
This Retainer item also is single-sided. If you had not Already paid, you can use Trust Bank Check, to pay that medical provider, and list on the items tab the Liability item and the client name, to show you are Directly using the Trust funds as promised = relieves that Bank account, for that client name, and reduces your liability to that name at the Same Time. But, you already paid. So now, you Invoice that client name, for your Advanced Costs; you might also have income (fee income) to charge on this same invoice.
Then, you treat the Trust bank as if this check is coming through the mail; you Write a Trust Check to the business and on the items tab, list all the Retainer items and names and allocate amounts here = the splits, for all the clients whose trust funds you have now 'earned' to keep against your Operating Bank. You take that Trust Check and use it to break out 'Receive Payment' for each client name; making sure they all flow to Undeposited Funds. You select Make Deposit and select these details. Now you have One batched deposit that = the Trust check. You also run your custom reports, and you see that Liability by Client Name still matches Bank amounts by Client Name for the Trust Bank.
That's how you prove you are handling Trust Banking properly. 'which I did and found the problem when i tried to post the payment on QB. May be we are all wrong and shouldn't just pay the cash toward the credit card?' All I can tell you is that, for Trust banking, I would put the Cash into the Trust Bank first, because you need the Record of the activities. If you want to handle Cash, for Trust, I would still need to do what I noted, but instead of a Trust Check 'bank' in QB, I would also have a 'Cash Bank' or even 'Safe' for Trust cash management. And you overlooked that if you spent this not for yourself, that is not expense; you want to show it Billable to the client, then prove you have the right to use their money to be repaid.
You already used your credit card. You did not Pay using their cash; that is the significant difference. If you took their cash and then bought their Supplies, for example, you would not be having the data flow issues.
The same things I explained here are used by a corrections facility and a half-way house and a Group Home operation, where you manage funds for the benefit of others that cannot care for themselves independently. You never really told us your operations. People come to QuickBooks Learn & Support for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:.
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