Domain 3 L1
A ___________name can be the same on multiple list items.
Company
The QuickBooks Online Plus plan includes _____ users
Five
Expense tracking can compare different projects to see if certain types of projects are more __________than others.
Profitable
A common way to reward a customer for being loyal is by giving them a ___________________
Discount
An accounting method report that reflects all transactions.
Accrual Report
If a user merges vendor accounts, this change is _________ and cannot be undone.
Permanent
Accrual accounting generally provides a company with a better sense of its overall _______________
Financial Health
The purpose of making expenses and items billable is to purchase supplies and then bill _________for those supplies.
Our customers
Quickbooks automatically _______________ payments within two to three days of receiving them.
Deposits
A financial institution licensed to receive deposits, make loans, track cash in/out of a business, and provide financial services.
Bank
When a user changes the ___________name to match a double account entry, the matching display names alert QuickBooks to merge the two accounts.
Display
A user can track different___________ by creating a project.
Jobs
Billable expenses have the option to create an ____________
Invoice
QuickBooks automatically matches payments with invoices and reconciles them with ___________
your Bank Account
An economic resource that will generate economic benefit and is categorized in the order of how liquid the asset is: current, fixed, and other.
Asset
______________ payment terms provide users 60 days before a payment is due.
Net 60
__________and __________ list items are used when creating invoices, purchase orders, and tracking inventory.
Expense tracking is used to see if a project is ________________
Making a profit or not
When a customer pays with ______________ , a user deposits the money into the Undeposited Funds account. [
Check
A report that reflects assets, liabilities, and equity. It does not show profit or loss.
Balance Sheet
Payment terms are the allotted amount of time a user has to pay a bill once it is ______________
Received
Sub-accounts are used to break down accounts to see___________ or income in greater detail.
Expenses
Expense tracking is activated within ______________
Settings- Expenses - Billing and Expenses
A money-in transaction workflow involves recording a customer’s transaction within QuickBooks, creating an ____________, recording the _____________after it is received, and _____________the funds into the user’s account.
Invoice - Payment - Received
A company's debts, including credit extended to the business, money owed on credit cards, sales tax owed to the government, employee withholdings owed to the government, and both short-term and long-term debts. Liabilities are distinguished between two types: current and long-term.
Liability