When I think of Transaction Pro Importer I think of two experiences where this product has made such a significant impact on my life that I have to share the experiences with you.
The first experience that I want to share about Transaction Pro Importer is about schoolofbookkeeping.com. We process most of the subscription revenues with PayPal. At a certain point I had gone for about a full month without recording any of the subscriptions. I was not about to post the sales receipts manually into QuickBooks. I had Transaction Pro Importer but I had not yet taken the time to learn it. That time had come. It took me about 30 minutes to learn how to import PayPal transactions into QuickBooks with Transaction Pro Importer. Then it took another 30 minutes to actually do it. That was because it was my first time. Now I can do it in about 10 minutes. I saved myself hours and hours of work that day and then I kicked myself for all of the hours I’d wasted previously not using Transaction Pro Importer to import transactions into QuickBooks.
The next experience I want to share is a value pricing story. In fact this is how I finally got sold on the idea of value pricing. Last year a client contacted me to hire me to set up 2 manufacturing companies in QuickBooks. Initially I told him it would be $1,000. $500 per company to set up the chart of accounts and the items based on what he provided me. He explained that he expected to pay something more on the order of $5,000 because he wanted to fly me out to Vegas where his company is located and have me train them for a day. He also explained that they have many assembly items each with many components. He wasn’t lying, when I got the spreadsheets back with all of the information I needed to set up the components and assemblies there were literally thousands of line items. If I had to hand code each of those items into QuickBooks it would have taken weeks in terms of the time required to complete the job.
I checked the Transaction Pro Importer blog and sure enough, you can import the Bill of materials for all of the items and the items themselves. I had both companies set up completely in about 30 minutes. This did take some planning. I had outline the excel files that I had the client fill out in a way that I knew would conform to the format Transaction Pro Importer needs it in.
I made $5,000 for about 2 hours of work, plus a day (of fun really) flying to Vegas and training his accountants whom he also flew in from China. If I had charged hourly I would have lost an awful lot of money on this, considering the client valued the project (and what I offer) at $5,000. This is how Value Pricing works, and knowing how to use transaction pro importer is what enabled me to benefit from the efficiency so I could make a lot more money in a lot less time.
Based on the foregoing I am excited to announce that Karen Magno of Baystate Consulting, the makers of Transaction Pro Importer will be live on our hangout this Friday, February 13, 2015.
Please join me on Google Plus this Friday while Karen shows us the magic of importing transactions and lists into QuickBooks using Transaction Pro Importer.
If you’re reading this after that date this link will take you to the recording.
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