Online Administration
The number of users allowed in Quickbooks Online Plus
What is 5
Useful if you want to track individual customers who are also a part of a large group or organization
What is a sub-customer?
To identify an existing customer as a vendor you would need to....
What is add a special character (letter, number, or symbol)
uploading from your computer or Google Drive or taking a picture of the receipt through the mobile app
This report tracks all changes made by all users
Audit log
The company information that you can update
What is company name, address, contact information, or Employer ID
This field must be unique when setting up customers
The form that a vendor needs to fill out in order to receive a 1099.
What is a W-9
True or false: You can email your receitps to Quickbooks online
True: Create a custom email address so you can forward images of your receipts and bills
These two financial report cards let you know how your business is performing, giving your your Net Income and a snapshot of your assets and liabilities and equities
Income Statement/Profit and Loss
Balance Sheet
The information that can be imported into Quickbooks Online
Customizable forms for customers include
What is invoice, sales receipt, or estimate
Entering this will debit your expense account and credit your Accounts Payable. Entering this will debit your expense account and credit your cash account.
What is a bill and an expense
The process of making sure your cash/bank ledger and bank statement are in balance
reconciliation
Name at least 3 money in reports
Accounts Receivable Aging Detail
Accounts Receivable Aging Summary
Customer balance detail
Collections Report
Open invoices
Recurring transactions can be found here
What is settings, lists, recurring transactions?
The asset account that acts as a holding place for received payments
What is undeposited funds
These are used to categorize the tranasactions that you download from the bank
True or false: You can connect Quickbooks to only bank accounts for automatic updates of your bank feed
False: You can also connect your credit card accounts
This report shows all bils that are not paid, with due dates and amount of days past due
Unpaid Bills Report
What are the reasons we create journal entries?
When using QBO payment feature, customers can pay their bills by...
What is credit card, debit card, PayPal, Venmo, and ACH transfer?
This will permanently remove all evidence of a transaction, while this will make a transaction amount zero, but will still be visible.
What is a delete and what is a void
Money coming into the bank is know as a _______ and money going out of the bank is known as a _______
Deposit and withdrawal
This report is used when you are unsure of a transaction and you want to ask your tax professional about how it should be posted
Ask My Accountant