Flashcards
QBO Ch. 7 Key Terms Bus 342
Cards in this deck (11)
- 1Inventory order from vendors to customersPurchase order - Bill - Pay Bills.
Invoice - Receive payment - Bank deposit - 2Lists needed for inventory transactionsVendor, Customer, Products and Services
- 34 types of Products and servicesInventory, Non-inventory, Bundle, Service
- 4InventoryProducts that are purchase for which quantities are tracked
- 5Non-inventoryProducts purchased that do not need quantities tracked. ex. Office supplies
- 6ServiceA service that is purchase from a vendor and services sold to customers. Ex. legal services (vendor) and pet service (customer)
- 7BundleA collection of products and services that are sold together as a bundle
- 8Updating products and services listBefore and while entering transactions
- 9Updating the Chart of Accounts with numbersDisplay the chart of accounts then select the edit pencil next to account then add number
- 10Internal controlset of processes and procedures to safeguard assets and detect errors
- 113-way matchOrdering, receiving, and paying