All Forum Posts by: Cathie Kovacs

can anyone explain to me which version of quickbooks I should omwith? There seem to be many to choose from. I’m a Mac user, have a CPA, no bookkeeper. Currently, one property. Plan to do 2-3 more in next 12 months. @Account Closed or anyone else who can answer.

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When they stop supporting a particular version, generally after two years, you can no longer download transactions from your bank or credit card, necessitating an upgrade.

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Originally posted by @J Scott:

Originally posted by @Account Closed:

Rachel, as long as QuickBooks works for you and your business, you don't ever have to upgrade. It's nice to be able to upgrade because QuickBooks is always improving their "stuff".

I believe they stop supporting automatic download/reconciliation of transactions after a few years from each version. This is the main reason I upgrade every few years. Also, I believe there are some features that go away for accountants, so my accountant asks that I upgrade every few years as well.

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Quickbooks for Mac is horrible. If you’re already running Parallels, by all means go for desktop. Otherwise I’d certainly recommend Quickbooks Online over Quickbooks for Mac.

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Originally posted by @Rachel N.:

@Account Closed

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Harry, yes QuickBooks Self Employed is upgradeable. Consider it training wheels for the full version (desktop or online).

Yes, you’ll grow out of it, and we all hope that you do since that means you have multiple LLCs and multiple properties. It will set you up for developing good habits and prepare you for the upgrade when it comes

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Originally posted by @Harry Williams:

@Cathie Kovacs thanks for your reply. Currently, it is one LLC with one property underneath it (more to come hopefully). Would upgrading from the self-employed version be easy once I had more projects going? Being young and "tech savvy" I feel as though I could set it up myself without the assistance of a bookkeeper, but maybe not?

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@Lesley Resnick I’m sorry. I strongly disagree.

Do your own taxes? Please, don’t do it. Once you move beyond W2 income only, I wouldn’t recommend this to anyone.

This isn’t the place to save money, my fellow investors. Do you cut your own hair? Odds are, you don’t. There’s a lot more at stake with your income taxes then a haircut so why take chances there?

Beyond that, I would recommend a good CPA to provide tax advice regarding S corps, subcontractors, payroll taxes etc. Hire a CPA for that and have them do your taxes too. Please.

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Wow. Nice score. Congrats!

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Sorry, to answer your question. I’d recommend weekly updates

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All Forum Posts by: Cathie Kovacs

Cathie Kovacs has started 7 posts and replied 147 times.

Post: How often do you reconcile and record expenses?

Post: How often do you reconcile and record expenses?

Post: How often do you reconcile and record expenses?

Post: How often do you reconcile and record expenses?

Post: How often do you reconcile and record expenses?

Post: How often do you reconcile and record expenses?

Post: How often do you reconcile and record expenses?

Post: How often do you reconcile and record expenses?

Post: How I got paid to buy a 10 unit

Post: How often do you reconcile and record expenses?