Everything you should know about QuickBooks Mac 2021 and its features
QuickBooks for Mac 2021 is a bookkeeping and accounting software that helps small-sized companies (of maximum 10 employees) manage several crucial tasks. Paying bills, creating invoices, tracking expenses, and preparing for taxes are just to name a few.
One software purchase comes with One Use License. A maximum of five persons working on the same network can work simultaneously with the company data. Each user, however, must have a user license as well as a separate installation of the same software edition and version.
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QuickBooks Mac 2021 benefits for Organizations
QuickBooks for Mac 2021 is a modern product that offers multiple benefits to its users. Some of these benefits are as follows:
- Categorizes expenses by generating a “Chart of Accounts.” It makes filing “Form 90” easy.
- Manufacturer reports displaying money contributed and spent till that very moment either by the donor or by a “Grant.”
- Plan budgets depending on fundraising and expense report. You as a business owner or QuickBooks user can as well compare the “Actual Income” and the “Expenses” to the budgeted sum.
- Manage and systematize the tax, service provider, company vendors, employees and other general information.
- Create Bank/credit reconcile discrepancy report so that you can generate the description of bank/credit reconcile discrepancy report to find out the changes made to transactions since the last reconciliation.
- The Email Tracker, which is an option of an email tracker in client and vendor center for tracking the dates the emails were sent to them.
- iCloud Document Sharing for sharing a QuickBooks Mac file via iCloud sync feature. Since this isn’t functional for multiple users working on a common file through syncing the copies when there are more than one users in the file.
- Password protected for safeguarding QuickBooks file that contains sensitive information like SSN, tax identification, bank or credit card details, etc.
Major Positives of QuickBooks for Mac 2021
File attachments: QuickBooks for Mac 2021 enables you attach and store documents such as receipts and estimates to the invoices and the customer files.
Batched Invoicing: With this accounting software, you can Invoice multiple customers simultaneously to create a complete set of invoices for customers with the same charges.
Data import: Lets you import data from Excel quickly and with ease.
Mac software integration: Useful for storing and keeping company, vendor and customer details in the Mac OS or address book of Outlook. Saved details can be accessed while printing the envelopes and letters.
You would require at least “Mac OS X v10.12 (Sierra)” to use QuickBooks 2021 for Mac. Other configurations that function with the software are Mac OS X v 10.13 (high sierra) and the Mac OS X v10.14 (Mojave). You must also have an Intel Core Duo or higher version processor and 2GB or more RAM available for the app. It would be better if you have 4GB RAM and a minimum of 250 MB available disk space. You are also advised to use a hundred percent Macintosh-compatible printer to print invoices, checks, and other documents. You shall have “QB -for- Mac-formatted” to print checks.
Working procedure of QuickBooks for Mac
QuickBooks accounting software comes with different versions for Windows and Mac and the working procedure for the two are quite similar to each other. Once the user buys the software, it is installed on the computer to make it usable and once the installation process completes, the user needs to deliver certain details related to business and also provide a few documents, to get the business set up in a proper manner.
As soon as the process of setting up completes, the user is all set and can track all the business finances by using QuickBooks Mac.
Tasks that can be completed on a daily basis in QuickBooks Mac
1. Track Bills and Expenses
Tracking bills and expenses is pretty similar to QuickBooks online. In QuickBooks for Mac, there are quite a lot of ways to track the expenses and bills. The user can download the transactions, import expenses from a spreadsheet, or you can also enter the bills on your own. The three top expenses that you can track in QuickBooks Mac are as follows:
- The first one is, that the user has to connect the bank and the credit card account, in order to allow the transactions to download automatically in QuickBooks Mac.
- The user can by hand enter the customer bill and also print checks straightly from QuickBooks for Mac.
- Last but not the least, the QuickBooks Mac user can easily import all the billing information from Excel Spreadsheet directly into QuickBooks for Mac.
2. Gain an insight into your business, by running key report
Well, running key report is also similar to QuickBooks online. QuickBooks Max has numerous detailed reports that the user can run, in order to gain a better into how well the business is doing. The reports that the users get are not confined to balance sheet, profit and loss, and statement of cash flows.
3. Running Payroll
The Intuit Payroll services can be turned on from within QuickBooks for mac, in case the user have employees. The Payroll processing in QuickBooks for Mac generally include the following:
- Payroll check calculations
- Direct deposit or check payment
- W-2s for employees
- Payroll tax forms and filing
4. Accepting online payments
Just like QuickBooks Online, the user can accept online payments from the computer itself with QuickBooks for Mac. At the time when the user enables the Intuit Payments feature, a Pay Now button will be added on all the invoices that the user might email to the customers. The payment could be made directly using the debit card or credit card by the customer, or the customer can enter the bank account information. Turning the feature on, required the user to click a button or two. When the user signs up for the Intuit Payments, there are generally two options or plans available to choose from.
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5. Track sales and income
Recording sales from services or products is now possible in QuickBooks Mac, merely by creating a sales receipt or an invoice. If the customer pays at the same time when providing the goods or service, the user is required to create a sales receipt. Another case may be when the customer prefers to be billed, in such case creating an invoice can be the preferred option. Both the forms of sales can be emailed to the customer directly from the software, in order to avoid printing and mailing the same.
6. Track Inventory
Tracking all the product purchases and sales is now possible with QuickBooks for Mac. This actually means that the user can create a purchase order and then send it to the supplier. At the time when the goods reach, the user can mark them as received against the original purchase order. When the user will sell items in inventory, the software itself will reduce the quantity on hand. Not only this, but also when the minimum order quality is attained, an alert will be sent by the software to place an order for the same. To run and gain better insight into the purchases and sales by product, customer, and many other options, there are numerous detailed reports available.
7. Importing sales data from Square
With the help of square, one can process credit card sales/ The newest QuickBooks for Mac lets the user to import credit card sales as a CSV file from Square. There is no need to enter transactions manually. For this, the user will have to import from square and then move to the file menu and also select import. Also, select transactions and sales receipts. And then, choose square icon on the top left.
This brings us to conclusion of the article. We hope that this article would be a relevant answer to your question, How QuickBooks works for Mac. QuickBooks for Mac is quite similar to QuickBooks Online. Therefore, using this software might not as difficult as people consider it to me. We hope that you find this blog post helpful. If you have any questions related to QuickBooks desktop for Mac 2021, you can contact our toll-free number i.e. +1-844-521-0490 and speak to our QuickBooks enterprise support experts.
Our team of experts and highly skilled professionals would definitely help you to resolve the matter.
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