Chapter 7 QuickBooks Key Terms

Descripción

Chapter 7 QuickBooks discusses using QBO to record purchases and sales of product inventory.
Theresa Horstmann
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Theresa Horstmann
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Resumen del Recurso

Pregunta Respuesta
Inventory Products that we buy that we track quantities.
Non-Inventory Products that we buy that we do not track the quantity of.
Service Services that we buy from vendors such as legal services.
Bundle Collection of products and services that we sell together as a bundle.
Purchase Order Record of an order to purchase products from a vendor. Lists the details of the purchase such as date, vendor, specific items ordered, and quantity of each item ordered.
Invoice Used to record sales when the customer will pay later.
Internal Control over Inventory Set of processes and procedures to safeguard assets and detect errors.
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