Learnwithleo

QuickBooks Online Chapter 5 Latest 2023 Graded A+ Only bank accounts are available in the Banking center in QuickBooks Online. false The For Review folder in the Banking center is for all the transactions that need to be reviewed and matched. true Undeposited Funds is a unique asset account to hold funds that have been received but have not yet been deposited into a bank account. true Bank feeds can be set up only for the business's bank accounts. false Bank feed transactions can be imp...

QuickBooks Online Chapter 4 Questions and Answers Graded A+ you can delete vendors in quickbooks online false You can have two vendors with the same name. false A vendor is a person or business you sell services or products to. false You can set up a new vendor only from the Vendors list. false You can record purchases with a credit card in QuickBooks Online. true

QuickBooks Online - Chapter 3 Already Passed Transactions Report Transactions for an account for a specified date Trial Balance A listing of the debit or credit balances as of a specific date Journal Entry Commonly used to adjust accounts Opening Balance Equity Account used to offset beginning balances adjustments Customer Entity to whom you sell products/services

QuickBooks Online - Chapter 1 Already Passed QBO Online version of QuickBooks QBDT Windows Desktop version of QuickBooks Gear Icon Click to add your instructor as your accountant Welcome Guide Provides tasks to help you get started Navigation Bar On the left of the Home page, it shows a menu of items

QuickBooks Online - Chapter 4 Latest Update (2022/2023) Graded A+ Invoice Used when recording a sale on account Sales Receipt Used when cash is collected at the time of a sale Product Quantities of this are tracked Service Quantities of this are not tracked Create (+) Icon Used to access invoices, sales receipts, or bank deposits

QuickBooks Mayterm Chapter 3 Test Already Passed 1: The Navigation bar is where the link to the Sales center is located. True 2: You can create a statement, receipt, invoice, or other transaction using the Action menu in the Sales center. True 3: A sales transaction can only be recorded when the customer pays for the product or service at the time of the sale. False 4: The sales form settings can be found in Account and Settings under the Your Company heading. True 5: You cannot change ...

QuickBooks Final Exam Questions and Answers Already Passed Which of the following is not an input field or selection at the Add New Account window? a. Financial Statement Override b. Description c. Account Type d. Enter Opening Balance a. Financial Statement Override Which of the following is not an available button at the Glad you're here! page when completing the Express Start method? a. Preview Your Settings b. Create Company c. Create Chart of Accounts d. All of the choices are ...

QuickBooks Exam Questions and Answers 100% Pass Which term best describes the QuickBooks Online environment? Cloud-based Where do you back up your QuickBooks Online data files? you don't Dolly uses QuickBooks Online and is upgrading to a new computer. What do you tell her? Since QuickBooks Online is cloud software, all you have to do is sign in What is a center? Where transaction and contact information are consolidated

QuickBooks: Chapter 1 Questions and Answers Passed with 100% what are the 3 types of quickbooks files? data, portable, and backup which file should we work in? portable define data file "QBW"- to enter data or create reports define backup file (.QBB)- a condensed, stable version of the data file and restore into a .QBW file before using define portable file .QBM- very condensed, helps move your quickbooks to another computer and restore before using what are the option that come with ...

QuickBooks Desktop Questions and Answers 100% Pass During the Advanced Setup, you can turn on and off which features in the EastStep Interview? (ALL OF THESE) Sales Taxes Inventory Progress Invoicing During the Advanced Setup, you can set up a password for which of the following users during the EasyStep Interview? a. Administrator b. External Accountant c. You cannot setup passwords during the EasyStep interview d. All users administrator When setting up a new company file through ...

QuickBooks Chapter 8 - New Company Setup Already Passed In the Easy Step Interview, you must identify Type of industry, company name, and company address. All of these Which tax form would you select for a Subchapter S corporation? Form 1120S To create a new company data file in QuickBooks, use the: File menu > New Company When setting up a new company, QuickBooks automatically creates: Chart of accounts To edit an account in the Chart Of Accounts From the chart of accounts window >...

QuickBooks chapter 8 (2022/2023) Rated A+ what are the steps to create a profit and loss budget? - gear icon - budgeting - add budget - enter info what value do budgets provide a business? - provide internal control over business activities - help ID and resolve problems why should a business reconcile a checking account? reconciliation helps ID any unusual transactions that can be caused by fraud or accounting errors. who should prepare a bank reconciliation? someone other than the ac...

QuickBooks Chapter 8 Questions and Answers 100% Pass To make sure you are starting in the correct place in the data, display the: A)January journal. B)Adjusted Trial Balance. C)January 1 Trial Balance. D)December 1-31 Balance Sheet. E)None of the above. C)January 1 Trial Balance In Chapter 8, all transactions occur in the month of: A)November. B)December. C)January. D)October. E)None of the above. C)January If you recorded fourth quarter transactions in 2017, January transactions a...

QuickBooks Chapter 8 Questions and Answers 100% Pass You cannot process payroll manually. False Once a paycheck has been printed, you may not edit it. False Paychecks may be printed only as a batch. False A payroll check may never be deleted. False Once an employee is hired, you may not change the pay period from semi-monthly to monthly. False An employee may be added at anytime. True If several taxes are owed to a single agency, QuickBooks generates a separate check to the agency for ...

QuickBooks Chapter 7 - Reports & Graphs Already Passed The order of the steps in the accounting cycle includes: Trial balance, adjusting entries, adjusted trial balance, financial reports What is an asset? What a company owns To record adjusting journal entries in QuickBooks, select: Accountant menu, Make General Journal Entries Examples of management reports for internal decision making include all of the following except 1120S Report Examples of management reports for internal decisio...

QuickBooks Chapter 7 with Certified Answers Issue a _____ if a customer has been overbilled credit memo Which 'behind the scenes' image shows what happens when you create a sales form to sell an inventory item? COGS credit 100, Inventory debit 100 The sales tax in Clara's area has changed. What should she do? Edit the existing tax rate What account is debited when a purchase order is created? accounts recievable

QuickBooks Chapter 7 & 8 Test Latest 2023 Already Passed A company's computer is classified as what account type: a. Expense b. Owner's Equity c. Fixed Asset d. Retained Earnings c. Fixed Asset A corporation uses __________ as its Federal Tax ID number. a. the owner's social security number b. an EIN number c. business operating license number d. none of these b. an EIN number An account period may be: a. One quarter b. One month c. One year d. All of these d. All of these Ex...

QuickBooks Chapter 7 Test Latest 2023 Rated A+ In a sole proprietorship, equity is what shareholders have invested in the company False Amortization is the process of a balance increasing over time False Treating bad debt as a discount is recommended because it reduces sales tax liability False A fixed asset is something you DON'T plan to use up or turn into cash within the next year True When the fiscal year ends, you must manually transfer your net income/loss into the Retained Earnin...

QuickBooks Chapter 7 Questions and Answers Rated A+ To enter Customer and Sales transactions From the Create (+) icon, select the appropriate customer transaction To enter Vendor and Expense transactions From the Create (+) icon, select the appropriate vendor transaction QuickBooks considers all of the following to be vendors except: Customers purchasing products Which of the following is a vendor transaction? Purchase Order We can update the Products and Services List at which of the f...

QuickBooks Chapter 7 Questions and Answers 100% Verified The owner's drawing account should be transferred to capital each week. False Even if entered elsewhere, all transactions are recorded in the Journal. True You must access the General Journal in order to close a period. False If Show All is selected, inactive accounts will not appear in the Chart of Accounts. False When you reconcile a bank statement, anything entered as a service charge will automatically be entered as a transacti...