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Sally is setting up her COA in QBO. Review the following COA thats automatically created. Which ones should she delete? Accounts Payable Accounts Receivable Opening
Sally is setting up her COA in QBO. Review the following COA that’s automatically created. Which ones should she delete?
- Accounts Payable
- Accounts Receivable
- Opening Balance Equity
- Payroll Expense
- Payroll Liabilities
- Retained Earnings
- Sales Tax Payable
- Uncategorized Expense
- Undeposited Funds
- Inventory Asset
- Reconciliation Discrepancy
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Step: 1
Sally is working on setting up her Chart of Accounts COA in QuickBooks Online QBO which is a crucial step in managing the financial aspects of a business effectively The Chart of Accounts is essentially the backbone of your accounting system allowing you to categorize all your companys transactions in a structured manner Regarding the accounts automatically created by QBO that Sally is reviewing its essential ...
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Step: 2
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
