QuickBooks for Mac

Moving from QuickBooks to QuickBooks for Mac, worth the hassle?

 When you decide to switch your company file from a standard QuickBooks on Windows to the Mac version of QuickBooks, there are some things you need to know:

• Mac 2013 will not have the same features as Pro, let alone Premier and Enterprise. Please review this link before you decide to purchase Mac 2013
• If you do buy Mac 2013, make sure your QuickBooks for windows is no older than two years old.This means if you are using Pro 2010, you have to upgrade to Pro 2013 and then convert the file to Mac 2013. Talk about an added expense.
• Remember that going from Mac to Windows, it has to be the same year.
• Only data files from QuickBooks Simple Start, Pro, Premier, and Premier Accountant can be converted to Mac 2013.
• While the majority of your information will be imported, there are some things that will not
• Any data for multiple currency will be lost.
• Intuit integrated payroll and payroll list items will be lost. (QuickBooks for Mac uses PayCycle and Aatrix Top Pay for payroll services)
• Online banking transactions that were not accepted into the register.
• Online banking aliases
• Customized settings for forms, invoices, estimates, statements, and POs, they can be customized in Mac though.
• Multi User data, such as sales reps info.
• User passwords
• memorized reports
• Business planning, expert analysis and business optimization tools
• Customized price levels
• 3rd party apps are lost (word, outlook, act)
• Merchant services
• Sales orders and back order tracking
• assembly items will be converted into non inventory part items
• budgets created without associated accounts
• workers comp list
• Fixed asset item list
• Multiple ship to addresses, preferred send method, payment info for customer:jobs
• User added columns to list.

There is a lot of info that will be lost during this transition. What would be the best solution? Run a Windows virtual machine on your Mac using VMware or Parallels. This way you don’t have to buy another copy (or two) of QuickBooks. Keep your license number for Windows so you can use it on the virtual machine. This gives you the best of both worlds, you get a Mac and you’re able to keep using vital Microsoft programs such as Office.

THL W100 - Cheapest Quad-Core Phone

Looking for a phone that is worth investing? Last month I bought a smartphone (THL W100) and it took 7 days to deliver the package in the office. As expected, I had it on my hands: a Quad-core, 4.5 inch screen, Android 4.2 phone with 8mp main and 5mp front camera!


For the past months, I've been searching for a jam-packed smartphone loaded with features that suit my needs. What makes the search more challenging is to look for a phone less than Php10,000.

Since this is my threshold, I must not spend more than this else I would toss it up. I thought it's rarely possible. But I was wrong. Mainstream brands that dominate the smartphone industry include Apple, Samsung, Lenovo, Nokia and LG.

If you want a cheaper one there's MyPhone and Cherry Mobile. Yeah, they're not that good but it's worth the price.

A Gem In the Acre of Mud

After a thorough research and reading of reviews, I came to a site that got me upside down. It seemed like I found a gem in the acre of mud!

I was amazed with the bunch of phones that look so good yet the price is really affordable. That was my first thought. However, I did not give in after a second thought. Scam! I cringed.

I almost got away with it but I never did. It seemed too good to be true. And I'll truly hate myself later if I won't take a shot with that deal. So what I did is I read a lot of reviews about the site and the phones they sold.

But what about the delivery? The seller is located somewhere in China! I'm in the Philippines. What, China? Yeah, after a week that phone will be busted!

How could I be so sure that they will deliver my order? What if the phone is defective? What would I do?

It pays to do a research first before you make a deal. So I Google the website and read all the reviews about it. And guess what, satisfaction range is between 95% - 100%!

I often read reviews that says, "Thank you 'Company' for a great product! I received my phone in just 3 days!"

And what makes it more convincing is that the customers are from Europe and US! Also, their products have 1 year guaranteed warranty!

"But that is made in China!", you might argue. So does iPhone! Check out the back cover and you will see. It is designed in California but made in China. "So what could go wrong?", I pondered.

"Why not!?", I thought. So I got up my ass and head to the website to search for a phone. There are really lot of phones to choose from. I was so excited that I nearly told my friends about it.

But I didn't! After a week or so, I finally decided to buy my preferred phone. The brand is THL W100. It costs $160 or simply Php6,400 ($1 = P40). I paid $15 for the shipping thru FedEx so total cost is $175 or Php7,000.

Hassle-Buzzle

After 7 days of excitement, my package finally arrived in the office! Unfortunately I was out on a business trip.

So when my officemate called out that there's a package for me, I requested her to receive it and immediately emailed her the authorization letter. I was relieved. Euphoria!

But suddenly my officemate got an alarming call. She told me I have to pay Php2,500 to FedEx! I almost fell on my seat. She said I have to pay immediately else the package will not be given.

Since she didn't have enough money either, I called the rest of my officemates until it reached Php2,500. Wew, money-pooling!

                                             

When I returned to the office, I didn't open the package yet. Instead, I searched for the receipt to see what P2,500 charge is for. After reading, I learned that the damn charges is for taxes and customs fees. WTF!

I googled about the charges and later I knew that it is really the policy and regulations of Customs here in Philippines to charge taxes and fees of packages received from other country.

However, this practice is NOT applicable in other countries! They don't charge anything at all! Oh, so it's really MORE FUN in the Philippines for Customs!

Anyways, the emotion was gone when I opened the package and held the phone that I waited so long. Full specs is listed below :) Here are the original-size pictures that I got using my phone.

THL W100 Full Specs

• 4.5 inch, 960 x 540, 5 point multi-touch IPS display
• Android 4.2
• 1.2GHz MTK6589 quad-core CPU
• PowerVR SGX 544MP GPU
• 8MP Rear Camera + 5MP Front-Facing Camera
• RAM: 1GB
• Dual-SIM
• 3G: WCDMA: 850/2100MHz
• 2G: GSM 850/900/1800/1900MHz
• WiFi: 802.11 b/g/n
• GPS
• Bluetooth
• Full support for Google Play
• Micro SD Card Slot
• Proximity Sensor
• Accelerometer Sensor
• Light Sensor
• Magnetic Field Sensor

P.S. Just so if you want to check the website, here's the link http://bit.ly/12iPGkn

P.P.S. I learned from a site that we can avoid/lessen charges from Customs. How? Simply indicate that the package is of NO VALUE. The reason why I was charged is because the seller declared it as a smartphone. Of course, Customs would take advantage of that. But when you declare it as no value, chances are taxes would be lesser or even zero :) Comment here if you have tried this too

Just Right

Goldilocks and the Three Bears

And [they are] those who, when they spend, do so not excessively or sparingly but are ever, between that, [justly] moderate

25. Surat Al-Furqān (The Criterian; 67)

I believe that moderation is different for everyone. Take the story of Goldilocks and the Three Bears, we know that Goldilocks likes the things that are just right. For her. What's right for Goldilocks, apparently is right for the little bear. Maybe because they're the same age or height and so on. With money, we need to consider a few more things. For example, person A & B both makes $60,000/year but one lives in an expensive city and the other in a suburb with a lower cost of living. What's right for each of them will be very different.

Reducing spending in step 22 and saving money on groceries in step 23 is trying to find that sweet spot with our spending. We cut the things that we can actually live without for a while (or forever). It can be anything, we just have to pay attention to the things we spend on. With food, the main purpose of food is just to keep us alive. If we strip things down to the core of only needs, we will probably only need to fulfill our basic nutritious needs and stop eating Doritos (I can't!). We don't have to go to the extremes. Find what we really need, and budget in what your wants are, moderately.

Like Goldilocks, it's all about in finding what's just right.

It's too small, it's too big, it's just right?

Personal Budgets That Work

Budgets do a lot of good, but you probably heard that already. If budgets do so much good, then why do we avoid them? 

Budgets are like exercise and eating right. We know diet and exercise is good for us. We know diet and exercise will help us be better people. We know the amazing benefits that happens when we follow a diet and exercise. Yet, we don't. It is easier, and more rewarding in the short term to gorge ourselves and sit and surf the interwebs. 

Budgets suffer the same stigma like diet and exercise. We know the benefits, but the discipline and work involved to maintain a budget or dieting or exercise scares us to accept the short term pleasures in lieu of long term success.

How do we make a budget work? If you're single and you have a money spending issue, then get someone who you trust and is responsible. Make them your "sponsor" and submit yourself to their direction and oversight. Some churches offer budget counselors to help in this area. 

Married couples need to be on the same boat. If one person controls the creation and maintaining of the budget, make sure to do weekly budget meetings with the other spouse. The reason is to make sure that everyone is clear on where the money goes during the week. This will prevent one person having all the control and keeping the other spouse in the dark.

The last thing you should do is get a budgeting program. If you read my other posts, you'll  know I'm a fan of YNAB. The cost for YNAB is $60 dollars but you can get $6 dollars off by following this link. While $60 dollars may be a lot of money, just remember YNAB offers a 34 day free trial, and if you follow the rules in YNAB, the money you'll save will  pay for the cost of the program.

The Qadr of Money

Source: Vakil.org

I am going to pile Step 18, Step 19, Step 20, and Step 21 together in one post because they are very much connected to each other. Hopefully I can tie everything together neatly here. Before we start, please watch the video below:



Steps 18-21 is all about budgeting, and budgeting is about the present to the future, not the past. Think of budgeting as a guidance in assigning each and every dollar a job, and with the guidance created, you have peace of mind of how you will live in the present and upcoming month. It's much more peaceful than spending aimlessly and hope all will be well. So, we create a predestination of where will each dollar will go to based on the things we know will come. Things called fixed, variable and periodic expenses like mortgage/rent, utilities, insurance, birthdays and so on. When the money have been predestined to certain jobs, they cannot go anywhere else, like the comic strip above. Do not let your free will create chaos on the flow of your money. Automatically impede the movement of your money once your receive your paycheck.

"..And peace will be upon he who follows the guidance." 

20. Surat Ţāhā (Ta-Ha; 47) 

And We did not create the heaven and the earth and that between them aimlessly. That is the assumption of those who disbelieve, so woe to those who disbelieve from the Fire.

38. Surat Şād (The Letter "Saad"; 27)

Indeed, all things We created with predestination.

54. Surat Al-Qamar (The Moon; 49)

The Top 4 Reasons People Fail at Budgeting

Budgeting isn’t easy, and many people experience difficulty trying to get the most out of this essential financial tool.  While the concept may sound simple, adhering to your budget could be a lot harder than you might think.  To help you experience success, here are the top 4 reasons why people fail at budgeting.

Unrealistic Expectations

The key to a successful budget is in the planning.  When you sit down to write up your budget, it is essential to be as realistic as possible.  If this is your first time working with a budget, or if you have previously experienced difficulty saving money, you should remember to start small.  Keep your goals simple and achievable, and then work on a budget that supports them without being too strict.  As you get used to your budget and start to experience progress with your savings, you can tighten the belt a little more. Following a gradual, step-by-step process will ensure that your budget is realistic, and most importantly, achievable.
  
Giving In to Temptation

Temptation is the biggest enemy when it comes to trying to stick to a budget. Months of hard work and sacrifice can come completely undone simply with one impulse purchase, so it’s important to be vigilant. Try and ensure that you are never in the situation to go through with spending on a whim by having clear goals and constantly reminding yourself of what you’re working towards. When you’re tempted to spend, walk away and take the time to truly consider your actions. It’s easy to get carried away in the heat of the moment, so removing yourself is an important step.   

Feeling like You aren’t Getting Anywhere

Sometimes it can feel like you are putting in all this hard work and not really getting anywhere. Your goals are still years away from being achieved, and you may start to ask yourself why you’re doing this. The trick is to focus on small, short-term goals that you can easily achieve, as this gives you a sense of success. By making budget a rewarding experience, you are far more likely to stick with it in the long term and avoid the feeling of being stuck in a savings rut.  

Not Seeking Advice

Many people aren’t aware of the help that is available when budgeting. Seeking advice from a reputable company such as Fox Symes debt assistance will allow you to access the highest quality professional budgeting advice personally tailored to suit your financial situation.  Not only are they experienced, they have a clear and objective approach to create a budget plan that reflects your needs. You don’t have to go through this on your own, and with professional advice, you’ll be able to experience great budgeting success sooner than you think!  

By being aware of these common reasons for failure, you can ensure that you avoid making the same mistakes with your own budget.  Remember that you can always get advice and support from a professional agency such as Fox Symes, ensuring that your budget has the very best chance of success.  Whatever you do, don’t give up. Budgeting might not be easy, but it is one of the most important and rewarding financial tools to help you to get on track and achieve your goals.

Using YNAB for Small Business Finances

I've used YNAB for a while now, and as you can see from my blog, I like the program. My wife and I are not perfect and sometimes we hit financial setbacks that are beyond our control; however, each time we do we stick with our budget. What we see is that we always have enough to pay for bills and get food. YNAB does work, and it works well for personal finances. 

However, what about small businesses? Does YNAB work for a business owner? 

The answer is... It depends.

It depends on your business. YNAB does extremely well for cash flow budgeting and cash based businesses. If you use a cash based accounting system (you get paid when a product/service is rendered and you pay bills when you receive them) then YNAB is great for you. If you need to have an accrual system, YNAB may not be the best choice.

I have a small company that I run part-time, I sell items online and also do some consulting work. I have QuickBooks Pro (since I am a QuickBooks consultant), but I find myself using YNAB more often. Even though I use both systems, there isn't a lot of work since both programs are able to import and categorize transactions. 

I use YNAB to help me keep my cash flow steady and also keep my spending under control. It has the same effect on my company's finances like it does on my personal finances. There are some things that QuickBooks does that YNAB doesn't, like track and manage taxes. Also, YNAB doesn't track inventory. Lastly, the reporting features are lacking when it comes to business reporting, and it cannot do a balance sheet yet.

However, Jesse (the creator of YNAB) is working on improving YNAB for small business owners, so I believe these features will be available eventually. 

If you want more information follow these links:

YNAB for Small Business

Different businesses who use YNAB

Video about YNAB for small business