Chapter 6 QBO

Question	Answer
expense	type of vendor transaction; expense form can be used to record expenses that we pay for at the time we receive the product or service; can pay using cash, credit card or check
check	type of vendor transaction; check form is used when we write a check
bill	type of vendor transaction; bill form is used to record a bill received and our obligation to pay the vendor later
pay bills	type of vendor transaction; used to select bills we want to pay
purchase order	type of vendor transaction; used to track products ordered from vendors
vendor credit	type of vendor transaction; used when a vendor gives us a refund or reduction in the amount we owe the vendor to our bill
credit card credit	type of vendor transaction; credit card credit form is used to record a credit, or reduction in charges by the vendor to our credit card
accounts payable	amounts that our business is obligated to pay in the future

Resource summary

	Created by Stephanie Spearman over 1 year ago