Show:
Business
Types of Accounts
Profit and Loss
Terminology
QuickBooks
100
A business owned by one person.
What is a sole proprietorship?
100

Money that a company has a right to receive because it had provided customers with goods and/or services.

What is Accounts Receivable?

100

Amounts a company earned and recorded from the sales of its products/services

What are gross sales?

100
A bookkeeping system where every transaction is recorded in at least two accounts.
What is double entry bookkeeping?
100
The place where new customers and their jobs are added and edited.
What is the customer center?
200
A business owned by two or more people who share in the profits.
What is a partnership?
200

An monetary obligation that is due within one year.

What is a current liability?

200

Costs associated with a company's main operating activities and which are reported on its income statement.

What are operating expenses?

200
A system that considers money spend and received even before the actual dollar amount is paid or received.
What is the accrual system of bookkeeping?
200
A non-posting entry where a customer is told how much a job will cost.
What is an estimate?
300
A business run by a Board of Directors that sells stock to raise capital.
What is a corporation?
300

An account which shows how much money was invested by the owner into the business.

What is Owner's Capital?

300

This method of accounting reports revenues and expenses when they are earned and incurred, regardless of cash receipt or payment.

What is the accrual method?

300
Money is not posted until actually spend or received.
What is cash basis accounting?
300

__________ is a new function in Quickbooks Online that allows for micro tracking of income and expenses based on job.

What is Projects?

400
A business that sells merchandise to another business for resale.
What is a wholesaler?
400
An expense account which shows how much money was spent to obtain new business by taking a prospective customer out to eat.
What type of account is Food and Entertainment?
400

Revenue minus cost of goods sold.

What is gross profit?

400

The name of the expense account where interest on a loan is recorded?

What is Interest Expense

400

What is another name for balancing your credit card /bank statement?

Reconciliation

500

Business owners who have been in business in the three to ten year range and who are ready to make next level business decisions.

What is a perfect referral for KASH!

500

Something/someone that can be leveraged to make more money! Ex: Your favorite Bookkeeper! 

What is an Asset?

500

Having an automated bookkeeping system, on average, can add ________ back to a small business every year!

What is $18,000!

500

She helps small business owners save time, headache, and money with outsourced bookkeeping, fractional CFO services, and accounting coaching in a judgement free environment!

Who is Kash the bookkeeper.

500

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