Describe what is accounting for operating activities on QBO? Explain and illustrate the step-by-step process of creating a purchase order. Include screenshots of your QBO for each step.

 

Identify the account type, normal balance, and explain how the following accounts are used: Fixed Asset, Long-term Investment, and Long-Term Debt?

 

Explain and illustrate the step-by-step process of creating a Transaction Report for the Accounts Receivable (A/R) account. Include screenshots of your QBO for each step. Why is it important to review the report?

 

Explain the concept of cash receipts in QBO and illustrate the steps to recording cash receipts. Include screenshots of your QBO for each step.