Budgeting
QB online
MIsc
More vocabulary
More MISC
100

You track your____________ to see where your money goes

Expenses

100

Under what menu would you create add a custom logo for your business in QB?

Company Settings, company name

100

What is the field on the top left of an invoice that you are prompted to enter? 

Add Customer

100

Things a business owns

Assets

100

Where would you go to add a line for tips on your invoice?

Settings sales form content menu and edit

200

What is 50/30/20? 

A budget rule that states that you should spend up to 50% of your after tax income on needs and obligations the remaining half should be split between savings and debt repayment (20%) and 30% for wants

200

What can you create from an estimate?

Invoice

200

When is a credit memo used?

When a customer wants credit instead of a refund

200

Money a business owes

Liabilities

200

What can you do if you want your bookkeeper to access your quickbooks account?

Go to main menu settings icon and select manage users

300

Your amount of income after taxes are taken out

Your net income

300

To identify the top selling products for the last month, what would you run?

A report (a sales report) 

300

What is one way to create an invoice?

Click the plus icon on the top left and select invoice

300

Money earned by the business

Revenue

300

What section under bank transactions would you select to see and approve all transactions?

Reconcile

400

Difference between profit VS revenue

Revenue is the money a business earns by selling a product or service, and profit is the money your business keeps after all the expenses involved in generating that income.

400

Where would you go to process a refund?

Sales tab, find original invoice, click to open, select create refund

400

Where can you go to find accurate videos for steps in QB online

Quickbooks youtube channel

400

Costs incurred by the business

Expenses

400

What menu item would allow you to scroll down to see charts of your status?

Dashboards

500

The formula for calculating net income is

Revenue – Cost of Goods Sold – Expenses = Net Income

500

How is your sales tax rate configured?

Using your zipcode on your business address

500

Where would you go to find up to date Federal tax information?

500

Money that you owe to creditors and vendors, which are listed as liabilitiesbecause you are required to pay

Accounts Payable

500

What must you enter on an invoice or sales receipt for it to add up the total amount due? 

The product or service information