Flashcards
QBO Chapter 3 & Key Terms
Cards in this deck (13)
- 1TransactionsEconomic events that affect the financial position of a business and are recorded in the accounting system.
- 2QBO (QuickBooks OnlineA cloud-based accounting software that helps businesses manage their finances.
- 3Chart of AccountsA listing of all accounts used by a business to record transactions, categorized by asset, liability, equity, revenue, and expense accounts.
- 4Customers ListA record of all customers, including their details, for billing and sales tracking.
- 5Vendors ListA compilation of all vendors/suppliers from whom the business purchases goods or services.
- 6Employees ListA roster of employees, used for payroll and HR purposes.
- 7Products and Services ListA catalog of items a business sells or services it provides, including descriptions and pricing.
- 8Update QBO ListsThe process of maintaining and modifying lists in QuickBooks Online to ensure accurate transaction entry.
- 9Onscreen FormA user interface in QBO used for entering transactions in a structured format.
- 10Onscreen JournalA feature in QBO allowing users to enter transactions in a journal entry format.
- 11Navigation BarThe menu in QBO that provides access to various features and functionalities.
- 12New Icon (+):A button in QBO used to create new transactions or records.
- 13Double-Entry AccountingAn accounting method where every transaction affects at least two accounts, ensuring the accounting equation remains balanced.
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- Flashcards on QBO Chapter 3 & Key Terms, created by Josue Mbuyi Official on 26/10/2024.
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- Josue Mbuyi Official
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