You will see an updated balance in the Undeposited Funds account and the Chequing accounts after the deposit is recorded in QuickBooks. Is this statement True or False?

What information does the A/R Aging Summary report show? Choose the best answer.

Question 5 Select one:a.

A list of jobs the customer is linked to.

b.

What the customer owes as of the current date only.

c.

The customers contact information and what is owed from previous billing periods.

d.

What the customer owes for the current billing period, what the customer hasnt paid from previous billing periods and Subtotal balances for each job (if the customer has multiple jobs with your company)

Which statement (s) best describes the "Undeposited funds" account?

Question 3 Select one:a.

No action is required when funds are in this account, it automatically deposits into a QuickBooks bank account.

b.

Any payments you receive from customers can be recorded in this holding account until you deposit the payment into a QuickBooks bank account.

c.

Select Undeposited funds if the payment will be deposited with other payments. This will ensure that the deposit amount in QuickBooks matches the deposit amount on your bank statement

d.

Both b an c

After you enter the invoice, the customers Accounts Receivable balance is increased, and the income account(s) linked to the products and services on the invoice increase. Is this statement True or False?

Question 2 Select one:

True

False