100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Bookkeeping with QuickBooks Questions and Answers 100% Pass $9.99   Add to cart

Exam (elaborations)

Bookkeeping with QuickBooks Questions and Answers 100% Pass

 10 views  0 purchase
  • Course
  • Bookkeeping with QuickBooks
  • Institution
  • Bookkeeping With QuickBooks

Bookkeeping with QuickBooks Questions and Answers 100% Pass How do you categorize an expense in QuickBooks? To categorize an expense in QuickBooks, go to the "Expenses" menu, select "Enter Bills" or "Write Checks," choose the expense account from the drop-down list, and enter the expense de...

[Show more]

Preview 3 out of 20  pages

  • September 15, 2024
  • 20
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Bookkeeping with QuickBooks
  • Bookkeeping with QuickBooks
avatar-seller
StellarScores
Bookkeeping with QuickBooks
Questions and Answers 100% Pass

How do you categorize an expense in QuickBooks?


✔✔ To categorize an expense in QuickBooks, go to the "Expenses" menu, select "Enter Bills" or

"Write Checks," choose the expense account from the drop-down list, and enter the expense

details.




What is a QuickBooks balance sheet report?


✔✔ A balance sheet report in QuickBooks shows the company’s financial position at a specific

date, listing assets, liabilities, and equity.




How do you record a bank transfer in QuickBooks?


✔✔ To record a bank transfer, go to the "Banking" menu, select "Transfer Funds," choose the

accounts to transfer money between, enter the amount, and save the transaction.




What is the function of the QuickBooks "Undeposited Funds" account?


✔✔ The "Undeposited Funds" account in QuickBooks temporarily holds payments until they are

deposited into a bank account.



1

,How do you handle a refund to a customer in QuickBooks?


✔✔ To handle a refund, go to the "Customers" menu, select "Create Credit Memos/Refunds,"

enter the details of the refund, and apply it to the appropriate invoice.




What is the purpose of the QuickBooks "Accounts Payable" feature?


✔✔ The "Accounts Payable" feature in QuickBooks helps manage and track bills from vendors,

ensuring timely payments and accurate record-keeping.




How do you create a budget in QuickBooks?


✔✔ To create a budget, go to the "Company" menu, select "Planning & Budgeting," choose "Set

Up Budgets," and enter the budgeted amounts for each account and period.




What is a QuickBooks "Sales Receipt"?


✔✔ A "Sales Receipt" in QuickBooks is used to record sales transactions where payment is

received immediately, such as in cash or credit card sales.




How do you back up your QuickBooks data?




2

, ✔✔ To back up QuickBooks data, go to the "File" menu, select "Back Up Company," and

choose "Create Local Backup" to save a copy of your data to your computer or an external drive.




What is the role of QuickBooks in managing inventory?


✔✔ QuickBooks helps manage inventory by tracking product quantities, costs, and sales, and it

updates inventory levels automatically as transactions occur.




What is the purpose of QuickBooks in bookkeeping?


✔✔ QuickBooks is used to manage and automate financial transactions, track expenses, generate

reports, and simplify the bookkeeping process.




How do you create a new customer in QuickBooks?


✔✔ To create a new customer in QuickBooks, go to the "Customers" menu, select "New

Customer," and enter the customer’s details such as name, contact information, and billing

address.




What is a chart of accounts in QuickBooks?


✔✔ A chart of accounts in QuickBooks is a list of all the accounts used to categorize financial

transactions, including assets, liabilities, equity, revenue, and expenses.


3

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller StellarScores. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73918 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart