Flashcards
QBO Chapter 2 & Key Terms
Cards in this deck (15)
- 1Chart of Accounts (COA):A structured list of an organization’s accounts used for financial reporting and tracking
- 2QuickBooks Online (QBO):A cloud-based accounting software that helps businesses manage their finances and bookkeeping
- 3Tax Return PreparationThe process of preparing tax documents for submission to tax authorities, requiring accurate financial data.
- 4QBO RegistersDigital ledgers within QuickBooks Online where transactions for accounts are recorded and viewed.
- 5Account NumbersUnique identifiers assigned to each account in the Chart of Accounts to facilitate tracking and reporting.
- 6Import QBO Chart of AccountsThe process of bringing an existing Chart of Accounts into QuickBooks Online from another system or format.
- 7Aligning COA with Tax ReturnCustomizing the Chart of Accounts to ensure it meets the categorization needed for tax preparation.
- 8Edit QBO Chart of Accounts:The process of modifying existing accounts in QuickBooks Online, including changing names or details.
- 9Add QBO AccountsThe action of creating new accounts within the Chart of Accounts in QuickBooks Online.
- 10Add QBO SubaccountsThe process of creating subordinate accounts under a primary account in the Chart of Accounts for detailed tracking
- 11Inactivate QBO AccountsThe action of disabling an account in QuickBooks Online so that it is no longer active for transactions.
- 12Accounting EssentialsFundamental principles and practices that govern financial record-keeping and reporting.
- 1313. Display QBO COA Account NumbersViewing the account numbers associated with each account in the Chart of Accounts within QuickBooks Online.
- 14Enter QBO COA AccountInputting new account numbers for the Chart of Accounts in QuickBooks Online.
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- Flashcards on QBO Chapter 2 & Key Terms, created by Josue Mbuyi Official on 26/10/2024.
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- Josue Mbuyi Official
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