Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which 2 statements are true about converting sub-customers to projects? Only the Accountant user can convert sub-customers to projects Sub-customers can be converted to projects

Which 2 statements are true about converting sub-customers to projects?

Only the Accountant user can convert sub-customers to projects

Sub-customers can be converted to projects from the Customer Center and Account and Settings

To be available to convert, a sub-customer can be up to four levels down from the parent customer

To be available to convert, a sub-customer must be set up to Bill with Parent

The sub-customer addresses, tax codes, and terms will revert to the parent customer settings for the converted project

Projects can be converted back to sub-customers

Stacy Smith has contacted you and wants to use QuickBooks Online. Currently, she manages three different properties and each property has its own separate bank account. She'd like to see the net income and total fixed assets by property.

What would you recommend?

Set up a QuickBooks Online Plus or Advanced subscription and turn on Location tracking

Set up a separate QuickBooks Online subscription for each property and consolidate at tax time

Set up a QuickBooks Online Plus or Advanced subscription and turn on Class tracking

Set up a QuickBooks subscription of any level and turn on Project tracking

A new client using QuickBooks Online Simple Start is unable to create a partial invoice against an estimate.

How can this be resolved?

They need to turn this feature on in Account and Settings

They need to set up a scheduled recurring estimate

They need to upgrade to QuickBooks Online Essentials or higher

They need to ask the primary admin for permission to access progress invoicing

Your client, Sadie’s Car Parts, has set the following Expense settings:

She has incurred the following billable charges for a particular customer. Because she uses markup, she does not enter a sales price when setting up items.

Vendor/Employee

Expense Cost

Item Cost

Delayed charge

Time

Billable rate per hour

Ellis Equipment Rental

500.00

Hicks Hardware

750.00

John Johnson

10

20

Sam Samson

450.00

4

50

Tom Thompson

1000.00


Assuming there's no sales tax, what is the total amount of the billable charges for this customer?

3315

3325

3100

3410

Step by Step Solution

3.49 Rating (172 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below 1 Two true statements about convertin... 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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions

Question

In Exercises find dy/dx by implicit differentiation. xy - y = x

Answered: 1 week ago