As the name suggests, QuickBooks for Mac is an accounting software specially designed for Mac users. The software is used to track all the business finances as well as to organize income and expenses.
Some of the other uses of QuickBooks for Mac is to pay bills, track inventory, invoice customers as well as track and pay customers. It is advised to use QuickBooks on Mac as you can easily manage your taxes with actual time-saving.
Working of QuickBooks on Mac
QuickBooks for Mac has a very similar working process to QuickBooks on PC. Both need to be installed on your system after purchased. Once you installed the software, you need to provide details of your business and then you can use the software according to your needs.
Here is a table depicting the major information and all the questions that need to be answered before you use QuickBooks for Mac software.
You have to answer all the above-mentioned questions and fill up all the details and then you can start using the software.
Who is suitable for using QuickBooks for Mac?
As mentioned in the very first line, QuickBooks for Mac is best suited to Mac users. Moreover, if you try to use QuickBooks for Mac on PC it won’t work. Even if you have a Mac you need to keep these three things in mind while using the software:
- You can use QuickBooks for Mac only if you don’t need to have access to data when you are away from the office.
- You don’t need to connect your credit card or bank card accounts to QuickBooks for Mac.
- You cannot use QuickBooks for Mac if you have more than three users who need to access it simultaneously.
- QuickBooks for Mac only works on the desktop it was installed, so you cannot work on it away from your office.
A solution to make QuickBooks for Mac accessible even when you are away from your office is to sign up with a QuickBooks hosting provider like Sagenext.
Features of QuickBooks for Mac
QuickBooks for Mac comes with embedded features that are way beyond regular tracking income and expenses of your business. Apart from inventory, payroll, online payments, paying and receiving required accounts and running detailed reports, it has various other features that make it one of the most preferred software for CPAs and accountants using Mac.
Here are some of the features of QuickBooks for Mac:
1. Customizing accounting charts
You can use QuickBooks on MaC for creating a chart of accounts for your industry, you can add or edit the expenses and income.
2. Custom Products and Services lists
Using QuickBooks, you can customize your products and services. Moreover, you can keep a track of the overall selling of your products and services.
3. Invoice batch
With the batch invoicing feature you can save time by completing one invoice and sending it to multiple customers.
4. Tracking multiple locations and departments
Using the class tracking feature on you can easily track the income and expenses for multiple departments and locations at a single time. This will definitely save your time with fewer efforts.
5. Managing budgets and forecasting
QuickBooks on Mac can help you to manage all your annual budgets for all incomes and expenses. You can check your progress by comparing the recent budget with the previous ones.
6. Multi-user access and iCloud sharing
Multi-user access on QuickBooks for Mac allows you to share your access with almost three users. You can share the access with two of your bookkeepers, accountants, and CPAs.
Using the iCloud sharing feature you can move your QuickBooks files from one Mac to another.
7. Importing transactions using Square
Using Square you can easily transfer the sales transaction data directly into QuickBooks for Mac preventing the burden of manually entering the data into QuickBooks. The feature is available in the latest 2019 QuickBooks for Mac. Here’s how the process works:
8. ‘Past Due’ Stamp on Invoices
The 2019 version of QuickBooks has the feature of Past Due Stamp on the invoices so you can easily look at which invoice is better. If the customers get the invoice after the due date, they can see the “Past Due” stamp and will be prompted to make the payment. Here’s an example:
9. Reconciliation discrepancies
Reconciliation discrepancies is yet another feature of QuickBooks on Mac. It allows you to restore the data between the credit card accounts and bank each month and also to troubleshoot other problems related to expenses.
10. Email tracking for vendors and customers
QuickBooks on Mac allows you to send emails to all your customers and vendors as well as to track all those emails. You can also email purchase orders and all other documents attached to it.
Pros and Cons of QuickBooks on Mac
- It is user-friendly
- More features with an affordable cost
- All-time availability for queries
- No mobile accessibility for data
- Limited user license
- Limited technical support
Uses of QuickBooks for Mac
1. Tracking sales and income
You can easily track all your sales and income using the QuickBooks for mac by creating a sales receipt or invoice keeping a full record of each and everything.
2. Tracking bills, expenses, and inventory
It is easy to track all your either by downloading your transactions on Quickbooks, importing expenses or entering the bills manually and making a sheet.
You can track all product purchases and sales using QuickBooks on Mac. As you sell items in inventory, QuickBooks will automatically reduce your quantity on hand. In addition, when you reach the minimum order quantity, you will receive an alert to remind you to place an order.
3. Online payments
Accepting online payment is easy using QuickBooks on Mac. You can enable the Intuit Payment option and the customers can use their credit or debit card to pay for invoices on QuickBooks.
QuickBooks for Mac is a suitable option if you do not need data access for multiple locations. You can keep track of all your financial expenses, write a check and track multiple departments and locations. With just a single click, you can manage your income and sales as well as check your all-time progress.