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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