Quickbooks stuvia - Study guides, Class notes & Summaries

Can you delete or make inactive something on a list if it has a balance (e.g. Customer, Vendor, or Stock Product, or Account)? - ANSWERSYes, QuickBooks will automatically create a transaction to make the balance zero. While setting up a QuickBooks Online account, you accidentally entered the wrong company address. How would you fix this error? - ANSWERSChange it in Account and Settings window, which you can access by clicking the Gear icon and select Account and Settings. If you use QuickB...

Why would you hide or collapse sub accounts on a report? - ANSWERSTo temporarily hide unnecessary detail and hide parent accounts What should you do after you click save & close on a customer credit memo? - ANSWERSChoose between retained as an available credit, give a refund or apply to an invoice Which of the following CAN be memorized in quickbooks? - ANSWERScheck Which is NOT shown on the payroll summary report on quickbooks? - ANSWERSinformation necessary to complete your state unem...

QuickBooks Certification Test | Questions and 100% Correct Answers QuickBooks Certification Test | Questions and 100% Correct Answers QuickBooks Certification Test | Questions and 100% Correct Answers QuickBooks Certification Test | Questions and 100% Correct Answers After quickbooks sets up a chart of accounts in the easy step interview, which of the following is True? - ANSWER- It's possible to add more accounts later #Assume that quickbooks is now in single user mode. What does this m...

accounting - ANSWER The process of recording, summarizing, and presenting the financial information of a company in the form of financial statements. accrual basis of accounting - ANSWER An accounting method that requires the recording of revenue when it is earned and the recording of expenses when they are incurred regardless of cash receipts or cash payments. adjusting journal entries - ANSWER Adjustments made to accounts at certain periods of time, such as the end of the month or the en...

QuickBooks Certification: Practice Test | Questions and Complete Answers 100% CorrectQuickBooks Certification: Practice Test | Questions and Complete Answers 100% CorrectQuickBooks Certification: Practice Test | Questions and Complete Answers 100% CorrectQuickBooks Certification: Practice Test | Questions and Complete Answers 100% CorrectQuickBooks Certification: Practice Test | Questions and Complete Answers 100% CorrectHow can you stop yourself and others from deleting, editing, or adding tran...

Chart of Accounts -ANSWER This is the name of the list of accounts the company uses as it conducts its business deits and credits -ANSWER each account in the general ledger shows all increase and decreases Accounting -ANSWER to edit account names and add account numbers, begin by clicking this option on the Navigation bar create icon > journal entry -ANSWER to enter the opening balances in the Journal Entries window ACTION -ANSWER In the Vendor window, this column is used to ...

You've just been hired as a bookkeeper, and the company's QuickBooks is a mess. There are many list entries that are duplicates. You decide to merge list entries to clean up the lists. Which of the following statements is true about merging? - ANSWER-You can only merge names from the same type. You have two customers with the same name. How do you handle this in QuickBooks? - ANSWER-Use a middle initial or other letter in the display name to make one name different from the other. Your c...

QuickBooks Online Certification Test Study Guide | Questions and Answers (Graded A) QuickBooks Online Certification Test Study Guide | Questions and Answers (Graded A) QuickBooks Online Certification Test Study Guide | Questions and Answers (Graded A) QuickBooks Online Certification Test Study Guide | Questions and Answers (Graded A) Can you delete or make inactive something on a list if it has a balance (e.g. Customer, Vendor, or Stock Product, or Account)? - ANSWER- Yes, QuickBooks will ...

Which of the following is true? If a customer balance is entered during the setup process, QuickBooks creates an entry using the Accounts Receivable and Uncategorized Income accounts. If a vendor balance is entered during the setup process, QuickBooks creates an entry using the Accounts Payable and Uncategorized Expenses accounts. If an inventory balance is entered during the setup process, QuickBooks creates an entry using the Inventory Asset and Opening Balance Equity accounts. All...

Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? - ANSWERSSo that Payroll Liabilities show yp in the Pay Taxes & Other Liabilities list in the Payroll Center What are the first two steps to set up payroll in Quickbooks? - ANSWERS1) Sign up for a payroll services; and 2) complete the Payroll Setup Interview What are the 2 main Financial Statements you can run from the "Company and Financial" category of reports? - ANSWERSBalan...