Lets Get Fiscal
The quickbooks online Plus plan includes how many users?
5 users
LAB :) Create a new invoice. Assign invoice to any customer. Select hours for Product or Service. Add the discription "Framing". Add a rate of your choosing. Add quantity of your choosing. Enter New Build as the class of your choice for this invoice.
Get that money honey :)
When setting up a new inventory item what accounts have to be defined?
Inventory Asset Account
Income account
Expense account
LAB :) Create a new recurring transaction that is an invoice. Name the transaction Pearls Concrete Mix Order. Make the transaction an unscheduled recurring transaction.
FREEE CHEEESE
This records a sale and how much a customer owes.
Invoice
Which two fields can not be edited when changing the email sent to the customer with their invoice?
The priority and the from address
What preset options are available as payment terms?
Due on receipt. Net 15, Net 30, Net 60, Add New.
LAB :) Create a new customer. Enter George Hill as the customer. Enter Turbo Tires as the company. Add Turbo Tires Tampa as the display name. Enter 555-555-8975 as the phone number. Save.
BIGGG MONEYYYY
How do you track accounts payable in Quickbooks?
Enter a bill and then pay the bill in the pay bills window
LAB :) Create a new customer, Fish World. Add display name Fish World Diamond Shores. Add the billing address, 321 East Wave Cove Dr., Tampa, FL 72001. . Add the shipping address, 833 West 200 North, Suite 105, Diamond Shores, FL 72002. Save.
BIG FREE MULAAA
LAB :) Change the address of the business to read Diamond Shores Florida.
100% CORRECT NO MATTER WHAT. FREE POINTS :)
What transaction should you enter when a customer returns a damaged product they have not yet paid for?
Credit Memo
A company makes a sale but revenue is not realized until the invoice is paid, is this cash or accrual basis accounting.
Cash
Preffered invoice terms are set by opening settings and then what?
Account Settings then Sales.
You would select this account when entering a debit card transaction, a payment made online directly from your bank account, or a wire transfer directly from your bank account.
Checking
A company makes a sale and records the expected revenue as an accounts receivable transaction. Is this cash or accrual basis accounting?
Accrual
List the payment options QuickBooks uses to automatically deposit payments within 2-3 days of receiving them.
Credit cards or Bank Transfers.
LAB :) Turn on the close the book features in Quicbooks.
Get that free coin :)
LAB :) Create a new journal entry. Enter bank fees and service charges as the account. Credit the account $100. Enter cash as the second account. Debit the account $100.
GO GO GO GO GO GO
What expense can be assigned to a customer?
A billable expense
To add a receipt on Quickbooks, what option do you choose from the left hand navigation to begin?
Banking
LAB :) Edit the customer George Hill. Add the email address georgeyporgey@email.com. Save.
FREEEE CHEDDARRRR
This receipt records a sale and the payment you received. It does not track any amount as owed.
Sales receipt
LAB :) Navigate to and turn on the track classes feature in Quickbooks.
FREE CHIPSSSS
LAB :) Create a new project in Quickbooks. Name the project Liliannas Bathroom Remodel. Add Promise Jones as the customer.
FREE FREE FREE FREE FREE FREE