Changing the way you learn

Question	Answer
Expense	Expense Form can be used to record expenses that we pay for at the time we receive the product or service. Can pay using cash, credit card, or check.
Check	Check Form is used when writing a check. Used to record services purchased when the payment is made by check at the same time the purchase is made.
Bill	Bill Form is used to record services, such as utilities or accounting services. Use the bill form to record a bill received (expense) and our obligation to pay the vendor later (accounts payable).
Pay Bills	Pay Bills Form is used to select bills we want to pay.
Purchase Order	Used to track products ordered from vendors.
Vendor Credit	Vendor Credit Form is used when a vendor gives us a refund or reduction in the amount we owe the vendor to our bill.
Credit Card Credit	Credit Card Credit Form is used to record a credit or reduction in charges by the vendor, to our credit card.
Vendors List	Permits us to collect and store information about a vendor such as vendor name, address, and phone number.
Bill > Pay Bills	Used to record services purchased, such as utilities or legal services when the bill is paid later.
Purchase Order > Bill > Pay Bills	Used to record the purchase of inventory items. The purchase order provides a record of the items ordered.
Accounts Payable	Consists of amounts that our business is obligated to pay in the future.
IRS Form 1099	Must be completed for sole proprietorships and partnerships to which we paid $600 or more for services in a year.

Chapter 6 QuickBooks Key Terms

	Created by Theresa Horstmann about 2 years ago