Flashcards
Chapter 4 QBO
Flashcards do conjunto (11)
- 1check registerA record of all transactions affecting the checking account.
- 2Money InMoney coming into the business that must be recorded in QBO so there is a record and paper trail.
- 3Money OutA business needs to track all money out, including all paid out of the company's checking account. Examples of payments include purchases of inventory, office supplies, employee salaries, rent payments and insurance payments.
- 4Recording checksTo record a payment that is made immediately with a check.
- 5Recording expensesTo record a payment that is made immediately with cash, check, or credit card.
- 6Connect bank and credit card with QBOThis results in the expenses automatically being downloaded from the bank or credit card company into QBO.
- 7Bank reconciliationOnce a month the bank sends you a checking account bank statement. The statement lists each deposit, check, and withdrawal from the account during the month.
- 8deposits in transitDeposits the company has recorded but the bank has not.
- 9Outstanding checkschecks the company has written and recorded but the bank has not recorded yet.
- 10Unrecorded chargesCharges that the bank has recorded on the bank statement but the company has not recorded in its account records yet.
- 11Interest earned on the accountInterest the bank has recorded as earned but the company has not recorded yet.
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- Descrição
- FlashCards sobre Chapter 4 QBO, criado por Deborah Abram em 31-10-2022.
- Criado por
- Deborah Abram
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