39991342
Description
Flashcards by Richard Kramer, updated about 1 month ago
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Created by Richard Kramer
about 1 month ago
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| Question | Answer |
| QBO Lists | Chart of accounts, customer lists, vendors list, employee lists, product and services list. |
| Chart of Accounts | List of all accounts a company uses for recording transaction |
| Customer lists | Collects information about customers |
| Vendor lists | Information about vendors |
| Employees list | Information about employees |
| Products and services list | Information about the products and services that a company buys from vendors or sells to customers |
| When can lists be updated | Before and while entering transactions |
| How to enter transaction information | Onscreen journal or onscreen form |
| Options to navigate entering transactions | Navigation bar, (+) New icon, and Gear icon > Recurring transactions |
| Types of transactions | Banking and credit card, customers and sales, vendors and expenses, employees and payroll, and other |
| Banking and credit card transactions | Deposits and transfers |
| Customer and sales transactions | Invoices, customer payments, estimates, credit memos for reductions to customers/ accounts, sales receipts, refund receipts |
| Vendor and expenses | Expenses, checks, bills (paying and entering), purchase orders, vendor credits, credit card credits |
| Employee and payroll transactions | tracking employee time and paying employees |
| Other transactions | adjusting entries |
| Recurring transactions | Scheduled, unscheduled, and reminder |
| Scheduled transactions | Recurring transaction for specified date automatically |
| Unscheduled | Transaction appearing in recurring list but QBO does not automatically enter the transaction |
| Reminder | Recurring transactions will alert to enter a new transaction |
| Double entry | Debit/credit for each transaction |
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