QBO Online Basics
This QuickBooks Online screen displays business snapshots and the overall financial overview.
What is the Dashboard (Home Page)?
This process involves setting up a brand-new company file inside QuickBooks Online.
What is creating a new company?
These individuals can access the company file and perform tasks based on assigned permissions.
What are users?
These QuickBooks tools like invoices and bills are used to record transactions quickly and easily.
What are forms?
This QuickBooks list organizes all accounts used to track financial activity.
What is the Chart of Accounts?
QuickBooks Online offers four versions, including Simple Start, Essentials, Plus, and this advanced
What is QuickBooks Online Advanced?
Moving data from another accounting system into QuickBooks Online is called this.
What is data migration?
This type of user has the highest level of access and can manage company settings and other users.
What is an administrative user?
This accounting method records income and expenses only when money is received or paid.
What is cash basis accounting?
The three primary financial reports include the Profit & Loss, Balance Sheet, and this report showing cash movement.
What is the Statement of Cash Flows?
This feature allows businesses to process employee paychecks within QuickBooks Online.
What is Payroll?
This desktop accounting software can be converted into a QuickBooks Online company file.
What is QuickBooks Desktop?
This feature allows businesses to categorize transactions by department, project, or product line.
What is Class Tracking?
This accounting method records income when earned and expenses when incurred.
What is accrual basis accounting?
This shows the detailed transaction history for a specific account.
What is a register?
This determines how many people can access a QuickBooks Online company file at one time.
What are user licenses (or subscription user limits)?
Lists such as customers, vendors, and products can be moved into QuickBooks Online through this importing feature.
What is importing lists?
This feature separates transactions by physical store, branch, or business location.
What is Location Tracking?
This feature prevents changes to past transactions after a certain date.
What is Close the Books?
When two duplicate accounts exist, QuickBooks allows them to be combined using this process.
What is merging accounts?
These visual summaries on the dashboard show quick financial insights like profit, expenses, and income trends.
What are Business Overview Snapshots?
During company creation, QuickBooks asks for details like company name, industry, and this type of financial calendar.
What is the fiscal year (or accounting period)?
This QuickBooks feature allows businesses to group transactions together to monitor income and expenses for specific jobs.
What is Project Tracking?
In QuickBooks Online, the “Customers: Money In” area primarily tracks this type of account.
What is Accounts Receivable?
Income and expense accounts are typically added to the Chart of Accounts using this editing feature.
What is editing the Chart of Accounts?