No, no, this is not another doom and gloom article. However its is a "You better have your eyes open" article. I have no real beef with QuickBooks. As a whole I think it is a fine product, it just has a major issue when it comes to credit card use on your merchant account. Namely, if you have QuickBooks with a merchant account, and you run a credit card on it, you're fine as long as you NEVER have a declined card.
OK, so that's not the end of the article. I would like to be able to leave you just with that single tidbit, but I guess it needs some explaining. You see QuickBooks is a little over eager. If you run a credit card, it posts the sale to your ledger. Now here's the rub: it posts it whether or not it was accepted or declined as if it were accepted. Now I do not know about you, but here in the business world, the real business world, cards get declined, and that right often. If every time I got a decline card my ledger balance falsely stated that I had the money, my business would bounce more checks than I would know what to do with.
All in all, QuickBooks is still not a bad deal, and is a competent product. However, until such time that it is fixed, I would not use it with a merchant account. I would have a merchant account that is not automatically tied to it and manually post entries.
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