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QuickBooks is like a superhero that can manage your business finances, but even superheroes have their kryptonite. In this blog post, we’ll explore three areas that can present challenges for QuickBooks users and provide tips on how to overcome them.
Now, let’s dive into the three areas that can present challenges for QuickBooks users:
1. QB Payments: If you’re using QB Payments, you may have noticed that there is only one owner on the account, and it is impossible to change the owner. If the owner leaves or sells the company, you need to open a new QB Payments account. When you apply to use payments, a limit is set for the amount that can be collected in a month. If you exceed the arbitrary transaction limit, QB Payments holds the funds, and you and your client lose access to them. QB Payments customer service is difficult to reach, and requests need to be sent to escalate their mistake. When setting up your account with Payments, we recommend that you call immediately and ask for your limits to be increased to a level appropriate for your business.2. Payroll: All payroll companies make mistakes, and QB Payroll is no exception. A common yet horrible mistake made by Intuit payroll is not making your payroll tax payments on time or at all. If you call QB Payroll, you may be on the phone for at least an hour, and they may take up to 9 months to fix the mistake and pay the penalties. Patience is a must when dealing with QB Payroll.
3. Banking: QB Bank accounts offer faster payments from clients and lower fees, but the money goes into a nontraditional bank account that is hard to access and to transfer funds out to your other bank account. You don’t have any checks to make payments on this account, and your accountant can’t pull statements as they could with a traditional bank account. It is not easy to close, so it is recommended that you stay away from QB Bank accounts.
Don’t fall into these common QuickBooks time wasters! Remember, BudgetEase is here to help you avoid these traps and keep your business running smoothly. And if you do fall into one of these traps, just remember: it’s not a mistake, it’s a learning opportunity!
We hope this helps!
