QBO chapter 3

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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	Created by Richard Kramer about 1 month ago