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Announcement - New Ebook Coming Soon!
Before we get into the Paypal problem, I wanted to let you know that I'm going release a new eBook soon. Here are the three eBooks you can get now:
1. Conquer 27 Frustrating Mistakes
2. Crack the COGS Code
3. Insider Secrets to Customer Prepayments
The new one will bring that to 4.
I'm really excited about it but I'm also little nervous.
You see, I really don't like to come across like a jerk, but the reality is that people often use QuickBooks for too long without real help.
This gets them into hot water, and often they don't even realize it!
So I come along and tell them that they're doing things wrong... and well most people love me for it but some people don't.
A couple newsletters ago I gave a quiz about COGS, asking people if I was a jerk for telling them that most readers were probably confused about COGS without even realizing it.
A very strange twist was that newsletter had the fewest open rate of any other newsletter I had published in a long time...
But it also resulted in the highest ebook sales for a single day.
How weird, hu? And that's not even the end of it. I got a heated email from a reader who was very upset with me.
"Yes you are being a Jerk! No one wants to listen to someone with your attitude so save it and try the teaching approach next time and maybe you will come across a little smoother."
Wow the whole day was just so strange. Fewer opens, more sales, and at least one reader who was highly offended! **shakes head**
I don't mean to be offensive or a jerk. I just want to wake people up because I know they can start doing great in QuickBooks with the right information.
Stay tuned for more info about the new ebook!
Tired of all the headaches in QuickBooks? Go here:
Conquer 27 Frustrating Mistakes
Have inventory? The COGS formula isn't all you need to know:
Crack the COGS Code
Are you paying too much in taxes by NOT recording customer prepayments the right way? Customer Prepayments and Negative Accounts Receivable making you crazy?
Insider Secrets to Customer Prepayments
Paypal Problems and How to Avoid Them
I thought this would be a great topic for a newsletter because many of you who use QuickBooks also use Paypal.
I have a colleague who went through a NIGHTMARE with Paypal. It’s too bad we didn’t talk BEFORE it happened, because my tip probably would have prevented it altogether. He gets a lot of spam claiming to be Paypal. Here’s what he shared with me:
"I just deleted a ‘Paypal Security problem’ email from my mailbox. I get these once every 3rd month after my Paypal account was hijacked. It took me weeks and a new bank account to get my money (2000$) back, not to mention new account, card, etc..."
The email he is referring to is a bogus email claiming to be from Paypal. I’m not sure exactly HOW his Paypal account got hacked, but he had $2,000 stolen and spent weeks to get it back. Not good.
Here’s a tip I developed to curb this type of problem. I recommend it to everybody who uses Paypal. Here’s what I told him:
"I use THREE accounts: the Paypal account, a bank account attached to the Paypal account, and another bank account attached to the first bank account.
At regular intervals the money is transferred from Paypal to the first bank account, then immediately transferred to the second bank account. Both the Paypal account and the first bank account have low balances at all times. If the paypal account gets hacked it won't have much in there, and if paypal decided to deduct money from the first bank account it won't have much in there either.
Obviously this doesn't PREVENT a hack or some other fraudulent activity, but when balances are low in vulnerable accounts then there's less headache to deal with if there IS a problem."
Moral of the story:
Don’t let money accumulate your Paypal account. If there’s no money in there, then there’s no problem if it gets hacked. Zero out the balance VERY REGULARLY to another account, then immediately transfer THAT MONEY into another account. It takes 5 minutes to do if you have online access to all accounts.
To your safety on the Internet!
P.S. Need personal help with QuickBooks? I have 7 different pricing options, based on your unique needs and budget. Go here to see my pricing information (PDF, Adobe Reader required):
Pricing PDF for personal QuickBooks services
from Jennifer Thieme
P.O. Box 3303
Vista, California, 92085
QuickBooks and QB are registered trademarks of Intuit, Inc.
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