Karteikarten
Chapter 7 Flashcards
Karten in diesem Stapel (16)
- 1QBO Inventory can record which (2) types of transactions?1. Vendor Transactions
2. Customer Transaction - 2List the vendor transaction steps:PO> Vendor Bill> Pay Bill
- 3List the customer transaction steps:Invoice> Receive Payment> Bank Deposit
- 4What is inventory in QB?Inventory is used for purchases where we want to track the quantity and cost of.
- 5Purchase Orders use the items:Cost
- 6Invoices use the items:Selling Price
- 7QB will automatically update inventory when sales transactions are entered. True or False?True
- 8What are some of the things listed on a purchase order?Date
Vendor
Items Ordered
Quantity
Cost - 9Add to Bill DrawerAllows you to add PO to expenses or bills
- 10Purchase Orders can be added to both bills and expenses. True or FalseTrue
- 11Pay Bills Form can be used to pay expenses. True or FalseFalse
Expenses are paid at the time of entry - 12Quantity on handThe amount of remaining quantity after an invoice is saved
- 13List (3) ways you can receive payments in QBCredit Card
Check
Online (Bank Transfer) - 14Bank Deposit FormUsed to transfer undeposited funds to the appropriate account
- 15List (2) ways to improve internal control over inventory1. Conduct physical counts of inventory on hand
2. Record inventory in the accounting records - 16What are the (3) components of the three-way match?1. What was ordered
2. What was received
3. What was billed
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- Accountant Chapter 7 FLashcards Karteikarten am Chapter 7 Flashcards, erstellt von Keegan Hagerty am 03/04/2023.
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- Keegan Hagerty
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