Flashcards
Chapter 7 QuickBooks Key Terms
Cards in this deck (7)
- 1InventoryProducts that we buy that we track quantities.
- 2Non-InventoryProducts that we buy that we do not track the quantity of.
- 3ServiceServices that we buy from vendors such as legal services.
- 4BundleCollection of products and services that we sell together as a bundle.
- 5Purchase OrderRecord of an order to purchase products from a vendor. Lists the details of the purchase such as date, vendor, specific items ordered, and quantity of each item ordered.
- 6InvoiceUsed to record sales when the customer will pay later.
- 7Internal Control over InventorySet of processes and procedures to safeguard assets and detect errors.
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- Description
- Chapter 7 QuickBooks discusses using QBO to record purchases and sales of product inventory.
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- Theresa Horstmann
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