Banking
This error means your login credentials entered in QuickBooks Online are not being accepted by your financial institution's website.
What is error 103?
You use this to bill your customer for the products or services you've provided. It also tracks your Accounts Receivable or the money your customer owes you.
What is an invoice?
The regular reception of compensation for a repeated service. For example, paying the rent is a form of this because it is done each month.
What is a bill payment?
What is the two most popular reports?
Balance Sheet and Profit and Loss
How often do we recommend customers to reconcile?
Once a Month
What are the two ways to bring in your banking transactions?
Direct Connect and Web Connect
Used to create a bid, proposal, or quote and can later be turned into a sales order or an invoice.
What is an estimate?
Used to record items that you need to pay later.
What is a bill?
What report is used to view Past Due Invoices and how many days they are past due?
AG Aging Report
How does the customer get their bank statement?
Via their bank website.
How often should you customers reconcile?
Once a month
Used to deposit payments into an account in QuickBooks (typically into your savings or checking account), just like you would when you visit the bank at the end of the workday.
What is a bank deposit?
Used to record items that you are paying now.
What is a check or expense?
If you want invoices to show on a report even if it hasn't been paid yet, do you use cash method or accrual method for your report?
Accrual Method
What happens if a transaction is deleted it has already been reconciled?
Cause the next reconciliation opening balance to be incorrect.
What tool do we use to troubleshoot banking issues?
QB Admin Tool
After you send an invoice, your customer pays you the outstanding balance in the invoice.
What is a receive payment?
This is a commercial document and first official offer issued by a buyer to a seller indicating types, quantities, and agreed prices for products or services. It is used to control the purchasing of products and services from external suppliers.
What is a purchase order?
What button do you choose within reports to filter it by specific topics?
Customize
What letter is beside the transaction if it has been reconciled
R
What is a work around if the customer is impacted by a banking INV?
Web Connect
This is a default account in QuickBooks that holds funds from payments to your company until you deposit them to your bank account.
What is undeposited funds?
Money owed by a company to its creditors.
What is accounts payable?
What report is used to view the changes made within QBO and who made that change?
Audit Log
Can customers undo a reconciliation?
No