Computer Accounting with QuickBooks Online - Chapter 4 - Key Terms and concepts – Banking

Check Register

Date column

Ref No. Type column

Payee Account column

Payment column

Deposit column

"Check mark" Column

Balance column

Three main ways to use QBO to record money coming in

Bank Deposit Form

Examples of money coming in that is not a customer sale include:

Examples of money going out which a business needs to track include:

Supporting documents (source documents) for payments include:

Four main ways to use QBO to record money out include:

Expense, or Check, onscreen form

Examples of money going out that could be recorded using the Expense or Check onscreen form include:

Examples of money going out that should not be recorded using a Check or Expense onscreen form include:

Two objectives of the bank reconciliation

Two reasons there are difference between the balance on the bank statement and the balance the business shows in its accounting records

Timing differences include:

Items the bank has not recorded yet which fall under timing differences include:

Items the company has not recorded yet which fall under timing differences include: