Bus 342 QBO Ch 4 Key terms

Check register

Customer sales using sales receipts

Customer sales using invoices > receive payment

Bank Deposit

Bank deposits other than sales

Expense

Check

Bill > Pay Bill

Purchase order > Bill > Pay Bill

Proof of transaction

Check or expense form

Money out that should not be recorded with check or expense form

Allows for automatic expenses to be downloaded by QBO

Bank reconciliation

Why are there differences in Bank and Business statements

Unrecorded on bank statement

Unrecorded in business statements