Set document type to receipt assign payee payment

This preview shows page 32 - 36 out of 50 pages.

Set Document Type to Receipt > Assign payee, payment date, account/category, description, amount, and memo > Select Save and Next > Add Expense Question 6 In which 2 situations might a transaction need to be excluded from bank feeds?(Select all that apply) If the downloaded transaction was already recorded and reconciled in QuickBooks Online
If the bank downloads the same transaction more than once If the posting date and actual payment date don't match in the bank feed If the bank description doesn't match the payee name
Question 7 QuickBooks Online allows the creation of bank rules. In which 3 situations would they be useful?(Select all that apply)
Question 8 What are 3 important reasons to reconcile bank and credit card accounts at set dates?(Select all that apply)
To verify that all transactions have been recorded for the period To verify that previously reconciled transactions have not been changed since the last reconciliation To verify that the bank has not lost its connection to QuickBooks Online Question 9 QuickBooks Online uses machine learning in its reconciliation tool to help find any hidden transactions. How does QuickBooks Online use machine learning in its reconciliation tool to help find any hidden transactions?
Question 9 Which 2 statements are correct regarding reconciling a bank account in QuickBooks Online?(Select all that apply)
You can only undo a bank reconciliation via a link in Accountant Tools hTo successfully reconcile and run a reconciliation report, you need to enter the Statement Ending Date and Ending Balance from the relevant bank statement Reconciliations must only be run at period end to estimate tax owed To see the Reconciliation report, select View report after you've successfully reconciled the account Question 10 How would you begin setting up a recurring transaction in QuickBooks Online? Select Create > Recurring Transactions Select the Gear icon > Recurring Transactions Select Accountant Tools > Recurring Transactions Select the Gear icon > Account and Settings > Advanced > Enable Recurring Transactions Question 12 Which is the best definition of cash-basis reporting?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture