Question
Question 1- The Chart of Accounts is a list of accounts used by the company. The accounts can be grouped into different categories. Using the
Question 1- The Chart of Accounts is a list of accounts used by the company. The accounts can be grouped into different categories. Using the list provided indicate the QuickBooks Account Type for each of the following accounts appearing in Craigs Chart of Accounts
Bank Account Receivable Other Current Assets Fixed Assets Accounts Payable Credit Card Other Current Liabilities Equity Income Cost of Goods Sold Expenses Other Income Other Expenses
Account Account Type Bank Charges Expenses Meals & Entertainment Accounts Receivable Maintenance & Repairs Landscaping Services-Job Materials Equipment Rental Accounts Payable MasterCard Savings Loan Payable Inventory Asset Opening Balance Equity Retained Earnings Interest Earned Design Income Landscaping Services-Labour Undeposited Funds Cost of Goods Sold Notes Payable Legal & Professional Fees Rent or Lease Utilities Billable Expense Income Landscaping Services
Question 2- Using the list provided what is the transaction type for the following transactions.
Banking Customer & Sales Vendor & Expenses Employee & Payroll Transaction Transaction Type Transfers Banking Weekly Timesheet Credit Card Credit Purchase Order Estimate Bill Invoice Receive Payment Deposit Sales Receipt Credit Memo Pay Bill
Question 3- Using the list provided which QuickBooks List would you use for the following transactions.
Customer List Vendor List Employee List Recurring Transaction List
Transaction QuickBooks List Weekly Payroll Employee List Expense Credit Card Credit Invoice Estimate Bill Purchase Order Bills Receive Payment Saved Deposit Transaction Sales Receipt Check
Question 4-Using the list provided match the following customer and sales transaction with the description of the transaction.
Invoice Receive Payment Estimate Credit Memo Sales Receipt Refund Receipt Delayed Credit Delayed Charge
This onscreen form used when we need to record a credit, or reduction, in the amount the customer is charged. Credit Memo
An onscreen form used to record a sales transaction when the customer pays at the time of sale when the product or service is provided to the customer
A sales transaction recorded when the product or service provided to the customer and the customer promises to pays later
This onscreen form is used when we give the customer a refund
This onscreen form is used to record the transaction when the customer pays its account with cash, check, credit card or online payment.
A form used to record a pending credit to a customer that will occur at a specified future date.
This onscreen form is used to record projected cost of products and services to be provided to a customer in the future
An onscreen form used to record a pending charge to a customer that will occur at a specific future date.
Question 5-Using the list provided match the following vendor and expense transaction with the description of the transaction.
Expense Check Bill Pay Bills Purchase Order Vendor Credit Credit Card Credit
The form used to select bills we want to pay. Pay Bills
The form used to order and track products from vendors
The onscreen form used to record products and services that we pay for at the time we received the product or service with cash, credit card or check
The form used when a vendor gives us a refund or reduction in our bill in what we owe the vendor
This form can be used when we pay for products and service at the time of purchase, but cannot be used when we pay with cash or credit card
A form used to record a reduction in charges by the vendor to our credit card
The onscreen form used to record bills we received and the obligation to pay the vendor later (accounts payable)
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