Smart Money Choice$

If you are using any version of QuickBooks 2007 (or older), you need to pay attention to this.

Effective May 31, 2010, Intuit (the makers of QuickBooks financial software) will discontinue live telephone support and add-on services for QuickBooks 2007 software (all versions).

Services that will be discontinued:

Assisted Payroll
Basic Payroll
Enhanced Payroll
Standard Payroll
Employee Organizer
Merchant Service
Billing Solution (formerly QuickBooks Online Billing)
QuickBooks Email
Bill Pay
Online Banking
Terminal Download
Technical Support Plans and Services

This is not really surprising news, since according to Intuit’s official Discontinuation Program, they only support “the most current version of QuickBooks, plus the prior two versions.” So that means after May 31st, QuickBooks 2010, as well as all 2009 and 2008 versions, are the only years they will continue to support.

Do I HAVE to upgrade?

That depends on how you use the software.

If you are currently using an older version of QuickBooks and do not need any technical support or add-on services, you can continue to use the software as you have in the past. It will keep working just fine.

However, if you need to use add-on programs and support for services such as payroll or merchant services,  you will need to install and register a supported version of the QuickBooks software by May 31, 2010.

But what if I don’t know which version of QuickBooks I’ve got?

That’s easy. If you don’t see which version you have on the “splash” screen when you are opening QuickBooks, then from within the program simply press Ctrl+1 (from the keyboard, not the number pad) and you will get all the information about your current QuickBooks program, including which version you’re using.

An important reason to upgrade if you’re still using QuickBooks 2007 (or older) is because even though Intuit promises to help you out if you lose your keycodes or have licensing issues, their terms and conditions say they will do so only “if that data is available.” In other words, there’s no guarantee they can help you if you are still using an old unsupported version, and you lose your password, have data recovery issues, or need a replacement software CD.

This is significant.

If you are locked out of your data file because you’ve lost your administrator’s password, or you can’t get into your program because of a registration issue, you’re dead. Not being able to access your financial records could literally cripple your business.

But if you are determined to stick with an outdated version of QuickBooks and you do happen to lose your password, you can use the Automated Password Reset Tool available for free on the QuickBooks website. But of course, there’s no guarantees there either. You are still on your own.

If, however, you are ready to give in and upgrade, here are my best suggestions.

Your Upgrade Options

You can, of course, upgrade directly through the Quickbooks website and get a $40 discount (as of this writing, the upgrade price is $159.95)

But you quite likely can get a better price by shopping around a bit. Generally you’ll find QuickBooks at all the major office supply stores locally and online. Amazon is currently selling QuickBooks Pro 2010 for $123.

Some other places you could check out are:

www.staples.com
www.officedepot.com
www.officemax.com
www.bestbuy.com
www.costco.com
www.samsclub.com

And if you are a real bargain hunter, you might be able to find a legal copy of a supported version (QuickBooks 2008 or 2009) on eBay. But realize that you’ll be in the same pinch in another year or two.

So my best suggestion is to just bite the bullet and upgrade to 2010 and be done with it (for three years anyway). There are some great new, truly helpful features you’ve been missing out on in the years you’ve fallen behind.

Getting Up To Date Using QuickBooks

For quick and free mini-lessons in QuickBooks, make sure you get in on my QB QuickTips video series.

And if QuickBooks has always been a struggle for you, why not go all out and get some proper training on using the program more easily and efficiently? I’ll teach you all the must-know functions in QuickBooks in my QuickBooks Core Training course. (The next class starts this coming Monday, May 24th.)

If you are upgrading from QuickBooks 2005 or older, training is especially recommended for you, since QuickBooks is practically a whole new program since that far back. it won’t be an easy transition without some assistance.

We are already one-third of the way through the year. Have your revenue numbers been improving?

I came across some revealing stats recently that are quite eye-opening about what’s really going on with A LOT of small businesses. I made a quick video to show what the numbers are really telling us about what we need to be doing to turn it all around.

Click above to start video

This is important stuff for so many entrepreneurs. If you know someone who could benefit from this new information, by all means, go ahead and let them know about this video. They’ll appreciate it, and so will I!

www.CashFlowMasteryCourse.com