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Chapter 7 QuickBooks Key Terms

Theresa Horstmann Inglés 7 fichas

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  1. 1InventoryProducts that we buy that we track quantities.
  2. 2Non-InventoryProducts that we buy that we do not track the quantity of.
  3. 3ServiceServices that we buy from vendors such as legal services.
  4. 4BundleCollection of products and services that we sell together as a bundle.
  5. 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.
  6. 6InvoiceUsed to record sales when the customer will pay later.
  7. 7Internal Control over InventorySet of processes and procedures to safeguard assets and detect errors.

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Chapter 7 QuickBooks discusses using QBO to record purchases and sales of product inventory.
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