Author: wizard

QuickBooks Online Raises Price Again to $99 monthly and it does not work for investors

Posted on By wizard
QuickBooks Online Subscription Price $99 monthly


CAUTION: If you have already purchased QuickBooks Pro Desktop for PCs, Intuit is now forcing us to pay an annual licensing fee.

Intuit stopped selling the QuickBooks Pro Desktop for PC software. If you need to start from scratch, I highly recommend to purchase Quicken Deluxe.

Here’s a recent question received from a 20 year user of Investor Books and Tenant Tracking.

QUESTION: Hi Mike,

I took one of your RE course about 20 years ago and purchased Investor Books and Tenant Tracking.  QuickBooks has since gone to a subscription model and their latest cost is $999 per year.  That is getting excessive.  Have you migrated your system to QuickBooks online?   Just curious how you are handling things?  Just paying the exorbitant price?

Thanks, Patrick

ANSWER:  Patrick, 
Investor Books is a company file using QB Pro Desktop for PCs
Tenant Tracking is a company file using QB Pro Desktop for PCs

it's very ugly what QB did to all of us long time users.
after much research and meetings with Intuit, here's my recommendation:

For me and my business, I am staying with QB PRO Desktop for PCs and paying an annual licensing fee.
- this allows me to have as many company files as I want.
---  (Investor Books, Tenant Tracking, Education Company, TrusteeServicesUSA.com, and QuickBooksForInvestors.com)

I do NOT recommend using QB online because it will cost you a minimum of $160 per month
- Why? because online subscription allows only 1 company file per subscription.
- Investor Books would cost you $80monthly
- Tenant Tracking would cost you $80 monthly
- BUT the BIGGEST Reason, is the online versions are totally different and you can not upload your company file without having a boatload of errors that Intuit will blame it on you.

if the annual license is not up your alley, the best alternative is Quicken, the Deluxe, top of line version.

i guess if me and you owned Intuit and QB, we would like to see customers required to pay an annual licensing fee.

just curious Patrick, what version of QB Pro Desktop for PCs are you using?
Troubleshoot

Good News and Bad News regarding QuickBooks Pro Desktop

Posted on By wizard

Over the last three years or so, Intuit, the parent company of Quickbooks, has created a lot of confusion and frustration for their loyal customers like you and me. Instead of rehashing all of their B.S. pricing structure and bundles, here’s the final result.

If you are a current user of QuickBooks Pro Desktop: Good News you are safe. When you upgrade your version of the QB Pro Desktop, your new license is good for one year. Intuit wants us to pay an annual fee to use QB Pro Desktop. Yes, I hate it too compared to old school, but this is what I am doing in my real estate business.

Intuit wants you to buy their online subscription for $99 monthly fee and it can only use One Company File. (Investor Books is a company file. Tenant Tracking is a company file)

Meanwhile, I’m aggressively searching and creating an affordable simple alternative and will promote it as soon as I have thoroughly tested it.

thank you,
Mike Butler..

Troubleshoot

WARNING! Do NOT Upgrade!

Posted on By wizard

WARNING! Do NOT Upgrade!

13 min video

💡 NOTE
      To VIEW LARGER – CLICK ⛶​ on the lower right corner of the video

Recently I have received many requests from Registered Users –

“Should I Upgrade my QuickBooks?”

After many hours and days, seriously, spent with Intuit and QuickBooks support, tech team and their research and development, I am sad to report and warn you NOT to Upgrade to newest version of QuickBooks PRO Desktop.

Why? In the past year, QB has gone bonkers on their pricing structures and product bundles.
They try to force you buy their online version in the cloud which costs, last time I checked, $80 per month and you can only use 1 company file. Therefore, 2 company files would require you to pay $160 every month.

I only recommend using QuickBooks Pro Desktop version, which is a stand alone software program you install on your PC. In the past, you could purchase or upgrade to a new version and use it forever; but, I recommended to upgrade every 3 or 4 years.

QB has gone bonkers. Earlier this year, they began selling this product with an “annual license” forcing us to buy an upgrade every year. At the time, this was acceptable because it worked out to be about $20 per month and you get to use unlimited company files.

Yesterday, in helping a Registered User, I discovered QB no longer sells QB Pro Desktop Plus 2023 with a 1 user license. It has completely disappeared from their website.

From what I gathered, they are trying to force us to buy QB Pro Essentials, a 5 user license, for $799 for an annual license. THIS IS OUTRAGEOUS and Unacceptable.

If you’re like me, i can get by with a 1 user license.

So what should you do? If you have older versions, go to ebay or somewhere else and try to find and buy QB Pro Desktop 2019 or older. Do NOT buy 2020 or newer versions because you will get wrapped up in their hamster wheel and blackmailing your data until you sign up for auto-payments.

I hope QB finds this and makes some changes to be more user friendly for all of us. Until this happens, I am searching for a reasonable, affordable alternative.

Mike Butler

Troubleshoot

Why 2 Company Files

Posted on By wizard

QuickBooks Real Estate – Why 2 Company Files

Many Investors Ask
“Why 2 Company Files?”

It Is Critical You Keep TWO Company Files 
Each is Separate and Independent of One Another
They Do NOT Integrate or Communicate with Each Other… PERIOD.

It is For Your Own Good…
… Been There…. Done That…. and Learned the Hard Way.

Do NOT Try To Merge Them Into One File

💡 NOTE
      To VIEW LARGER – CLICK ⛶​ on the lower right corner of the video

GETTING STARTED, Why 2 Company Files

What is Investor Books Pro?

Posted on By wizard

INVESTOR BOOKS PRO company file​

​• Keeps Track Of What You OWN and OWE, and Your INCOME & Expenses
​• Buy, Sell, Trade, Borrow, and Loan
​• Go 100% paperless – Keep It All in QuickBooks! 
      receipts, bank statements, deeds, mortgages, contracts, closing docs, etc. 
​• It Does Your Books As You Pay Bills and Make Deposits
​• Tax Time Preparation Is Done In Minutes, Not Days or Weeks. Simply Email to CPA
​• Investor Friendly Reports Already Set Up For You  – Simply Push A Button
​• Makes It Simple for LLCs, Corps, Partnerships, IRAs, and more
​• Residential, Commercial, Dirt, Single Family, Apartments, Mini-Storage, Marinas, Mobile Homes and more!
​• Ensures “Cash Method” of Accounting so you can capture every tax benefit!
​• “Post Office Method of Accounting” makes it brain-dead simple for YOU and Your CPA
​• Tracks Real Time Costs of Rehabs and Tenant Turnovers as they are happening…
           not weeks later after they are done when it is too late to make adjustments.
​• Tracks Real CASH FLOW by Property, by entity, by partnership(s) and more!
​• SAVES Your Precious and Valuable Time!
• Your Rock Solid Foundation Gives You Confidence to Do Any Size Deal Without Fear!

💡 NOTE
      To VIEW LARGER – CLICK ⛶​ on the lower right corner of the video

GETTING STARTED, What is Investor Books Pro?, HOW TO VIDEOS

What is Tenant Tracking?

Posted on By wizard

TENANT TRACKING company file​

Is Your Landlording and Property Management Machine

• Keeps Track of Everyone Who Owes You Money… Tenants & Loan Customers
• Makes You Look Professional, even with 1 property… Perception Is Reality!
• Used Properly, You will Consistently Get PAID OVER 100% of your rents!
• WORK ORDER  gently forces your Tenants to gladly pay you for damages they caused
• Tenants will pay late charges without phone calls and without complaining
• Security Deposits made clean and simple.
• Tenant Turnovers are efficient moving out tenant pays for all of their damages

💡 NOTE
      To VIEW LARGER – CLICK ⛶​ on the lower right corner of the video

GETTING STARTED, What is Tenant Tracking?, HOW TO VIDEOS