Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

33. List the four steps to change a vendors information : 34. Using a sales order is beneficial to track what has been filled and

33. List the four steps to change a vendors information :

34. Using a sales order is beneficial to track what has been filled and what may be backordered, as well as ensuring you have enough inventory to meet all customer orders. True False

35. If you pay for a purchase at the time, you make the purchase it can be entered by:

a. Enter Bills

b. Pay Bills

c. Write Cheques

d. Invoice

36. List three different types of Payroll Items.

37. You can remit taxes and other payroll liabilities at any time you want to Canada Revenue Agency. True False

38. You can set up memorized transactions when writing cheques for specific types of payments such as monthly rent or loan payments.

True False 39. If you need to adjust an invoice you should:

a. Void the bill and re-create it.

b. Delete the bill and re-create it.

c. Change the bill and save it.

d. Ignore the wrong one, and just enter a new one.

40. Printing cheques can be activated by using the To be printed option in the Pay Bills window for the vendor. True False

41. You should print a Vendor Aged Detail report to show you which vendors need to be paid and any outstanding payments based on receipt date of the vendor invoice. True False 42. When dealing with one-time customers such as a cash purchase in your store, consider setting up a generic name for that type of customer so you can track your daily cash sales. True False

43. When dealing with payroll, you should update your tax tables as often as notified by Intuit after governmental changes. True False

44. What are the five Headings in the Edit Employee window?

45. When paying bills, you need to have the bill already entered in QuickBooks. True False

46. One reason you need to create payroll reports is to manage your business and legal obligations. True False

47. The two main areas for financial reports includes Company and Financials, and Accountants and Taxes. True False

48. Once employees have been entered, if you change the defaults for all employees, these default changes will affect all employees. True False

49. Once you set up the terms for sales in the customer record, these are always used in a sales invoice. True False

50. Which of the following fields in the inventory window is not a requirement for completion:

a. Item Name & Number

b. Preferred Vendor

c. Cost

d. Income Account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cornerstones of Cost Management

Authors: Don R. Hansen, Maryanne M. Mowen

2nd edition

1111824401, 978-1111824402

More Books

Students also viewed these Accounting questions