a. Open transactions as of the statement date
You received 5 customer payments in the mail. At the bank you deposit the 5 checks as one deposit. When you record the 5 separate payments in QuickBooks, how do you show that the 5 checks were actually 1 deposit? a. In the receive payments window, check "deposited with deposit number ." b. Record all the payments in the same Receive Payments window c. When you use the Receive Payments window, QuickBooks doesn't deposit the money in your checking account. After you record the 5 payments, click Record Deposits and select the 5 checks. d. All of the above
When should you create an invoice in QuickBooks? a. When a customer purchases goods or services and pays you in cash at the time of the sale b. When a customer purchases goods or services and pays you by check or credit card at the time of the sale c. When a customer purchases goods or services, but you don't want to record the sale as final d. When a customer purchases goods or services but does not pay you at the time of the sale
When should you use a Sales Receipt in QuickBooks? a. To give a customer a receipt for payment of an invoice b. To record a customer prepayment or deposit c. To record a customer payment at the time of sale d. To enter a customer early-payment discount
What options do you have after you create a credit memo in QuickBooks? a. Retain as an available credit b. Give a refund c. Apply to an invoice d. All of the above
What do you need to record in QuickBooks when a customer's check bounces (the customer had non-sufficient funds, NSF)? a. There is less money in the checking account. b. The customer owes you for the amount of the check (and optionally a bounced check fee). c. The NSF fee the bank charged you d. All of the above.
What report should you use to help you complete the state unemployment tax form? a. Payroll Summary b. Payroll Data Review c. Employee State Taxes Detail d. State Unemployment report
What form must you give to an employee? a. 1099 b. 1096 c. W-2 d. 1040
Which of the following is a way to access a report in QuickBooks? a. From the Reports menu b. From the Report Center c. By clicking Reports at the bottom of lists d. All of the above
What is the purpose of subaccounts? a. Track departments or locations efficiently b. Track finances in more detail by grouping accounts in a logical fashion and showing a subtotal for those accounts c. To show different Account Types together in one section of a report d. None of the above
How do you create a memorized group of reports? a. Click the Report Center icon. Then click the Create New Report Group button. b. Open the Memorized Report List and then click Memorized Report > New Group. c. Choose File > Reports > Memorized Reports > Create Group. d. Open the Group Reports List and then click Groups > New Group.
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