Flashcards
QBO Chapter 6 & Key Terms
Flashcards do conjunto (13)
- 1VendorsBusinesses or individuals from whom a company purchases goods or services.
- 2ExpensesThe costs incurred by a business in the process of earning revenue, often for services or goods necessary for operations.
- 3Accounts Payable (A/P)The liability account used to track amounts owed to vendors for goods and services received on credit.
- 4Expense FormA QuickBooks Online (QBO) form used to record vendor transactions, particularly for services or goods where no inventory tracking is required.
- 5Check FormA QBO form used to record payments made directly to vendors via check, often for non-credit purchases.
- 6BillA document from a vendor requesting payment for goods or services provided, recorded in accounting to track amounts owed.
- 7Pay BillsA function in QBO that allows a business to record payments made to vendors for outstanding bills, decreasing accounts payable.
- 8Vendors ListA list of all vendors in QBO, where a business can manage contact information, transaction history, and payment terms.
- 9Create BillThe process of entering a vendor's bill into the system to record an outstanding liability.
- 10Create Pay BillsThe process of selecting bills that are due for payment and recording the payment transaction, which reduces the company's liabilities.
- 11Accounts Payable (A/P) AgingA report that shows the outstanding bills and payments due from vendors, categorized by the length of time the invoices have been outstanding.
- 121099 FormA tax form used to report payments made to independent contractors or vendors, such as legal services, for tax purposes.
- 13Non-Inventory PurchasesPurchases made from vendors that do not involve inventory, like services or supplies for business operations.
Informações
- Descrição
- FlashCards sobre QBO Chapter 6 & Key Terms, criado por Josue Mbuyi Official em 09-11-2024.
- Criado por
- Josue Mbuyi Official
- Visualizações
- 3
- Avaliação