Quickbooks Study Guide 2 Questions and Correct Solutions 2024

Quickbooks Study Guide 2 Questions and Correct Solutions 2024 You need to record a new transaction from a sales receipt. In which order should you perform the actions? Place numbers next to the statements for correct order of steps. - Answer -a. Select the receipt to make corrections or add missing information (1,2,3,4). 4 b. Create a new expense (1,2,3). 1 c. Upload an image of the receipt to QuickBooks Online.(1,2,3) 3 d. Match the receipt to the expense. (1,2,3) 2 What are the four types of products and services that can appear on QuickBooks sales forms? - Answer - Bundle, Group, Inventory, and Service You own a retail clothing store. You order three dozen shirts from a vendor. Two shirts arrive with obvious manufacturing errors. You contact the vendor, who offers you a credit. In Quickbooks Online, what is the effect of the vendor credit? - Answer -Credit the account you used to make the purchase You need to connect financial accounts to QuickBooks Online. For each account type, highlight YES if QuickBooks Online can connect to that type of financial account or NO if it cannot. - Answer -A.A money market account (YES,NO) B. A business saving account (YES,NO) C. A personal credit card account (YES,NO) You need to determine which vendors charge the most for the goods and services they provide to your company. Which report should you run? - Answer -Purchase by Vendor Which three tasks can you perform when using Bank Feeds in the Banking area? (choose 3) - Answer - A.Match transactions entered in QuickBooks to the bank information as they clear B.Create a Receive Payment transaction if invoices are open in Quickbooks and one more payments have cleared the bank. D. Create a Pay Bills transaction if the bills are unpaid in QuickBooks and one or more payments cleared the bank. Which two Statements describe the difference between recording expenses on checks andas credit card expenses (choose 2 ) - Answer -b. A credit card expense debits the expense account and credits the credit card payable c. A check debits the expense account and credits Accounts Payable For each statement about the risks and benefits of extending functionality through apps,write TRUE or FALSE. - Answer -Your QuickBooks Online account includes free use of all App Stor