Terms in this set (72)
if you own a company that repairs cars, you should use the _____ item type
the benefits of using items allows you to _____ the actual quantity of goods or services you sell. Items can save time by __________ entering a description and price on forms. Items also allow you to _____ detail without cluttering your ______ of ______.
track automatically track chart accounts
How many items can you have in pro and premier versions of quickbooks?
What are the 3 kinds of Item types?
inventory service non-inventory
What is not an item type?
you need ____ item(s) to represent different services or goods
What allows you to track sales in more detail without cluttering the chart of accounts or Profit & Loss Statement?
What do you need to create an invoice?
What account on the chart of accounts is affected when you sell an item?
the account you selected when you set up the item
If you associate a service item with two accounts how does Quickbooks know which account to use on a transaction? if the ____ appears on a sales form; quickbooks uses the account under ____ information in the item setup. If the ____ appears on purchase form; quickbooks uses the account under ______ information
item sales item purchase
what is inventory assembly? an inventory _____ that is assembled from other items
how do you customize most forms that you sent to customers?
click on customize at the top of the form
can you customize bills?
who do you receive bills from?
you can only make _____ changes to checks
only the administrator can...
add new users and change their access privileges
what do you do if you have to track information about customers that quickbooks does NOT track?
edit a customer
click the additional info tab
click define fields to create a custom field to track anything you want
to set up multiple users in quickbooks pro or premier: choose ______ set up users and ______ set up _____
company passwords users
what do you do, after you customized an invoice
click on invoice
click the template drop down arrow
select your customized invoice
how do you make other forms look similar to a custom invoice?
select the form you want to duplicate
click the templates button
what do you do if a form does not fit on one page or if information is cut off when printed?
use the layout designer
you _____ increase the number of characters quickbooks allows in a field
how do you edit a collections letter?
prepare letters with envelopes
customize letter templates
how do you change a parent account to a sub account
click on the diamond to the left of the account
drag the diamond below the appropriate parent account
how do you change the color scheme
how do you change the location of your address on your invoice
use the layout designer
how do you automate a transaction that occurs each month?
can you memorize most transaction? yes/no
what types of transaction can you not memorize?
paying bills and payroll
what are the first two steps to set up payroll?
sign up for a payroll service
complete the payroll setup interview
if you click and drag the diamond to the right of the column it makes the column ______ if you drag it to the left it makes the column _____ and then further left past the column makes the column ______
bigger smaller hidden
when you memorize a report, quickbooks will only memorize what?
Report header, filters, and columns
quickbooks does not memorize the ____
during the advanced/detailed set up in the easy step interview, you are not able to ___ accounts that are not on the quickbooks default list
after completing the easy step interview add the ____ directly from the _____ of ______
account chart accounts
to set up multiple businesses use the ________/detailed setup to go through the ______ step interview for each company to create a _____ company file
advanced easy serperate
during the advanced/detailed setup the _______ ______is the date you want to begin tracking the company's ________ in quickbooks
start date finances
during the advanced/______ ____ in the easystep interview only the _________ can set up their password
detailed setup administrator
in the _________/________ _______ the following features can be setup in the easy step interview, sales taxes, _____ progress invoicing
advanced detailed setup inventory
when setting up a new company some information is ______ however you must enter the ________ ____
optional company name
what happens to the inventory asset account when you enter a purchase order for inventory: purchase orders are ______ and no accounts are _________
the _______ tab is used to enter a bill to assign a cost to a _____ and purchase inventory
to enter a petty cash expenditure use either _____ checks or the _____ register to change the account to ______ expenditures
write check cash
you should _____ delete a check if the check was ______ and the _____ number was used
never printed check
to enter a vendor credit enter _____ select credit
a vendor credit ______ the amount you owe to a vendor
to reconcile a bank account, the beginning balance must _____ the opening ______ on the paper _____ statement
match balance bank
a ___ contractor will be listed on your _____ list
at the end of the year you will use a ____ form
a 1099 is similar to a ____ but while a ____ reports wages, salaries, and tips a 1099 reports many other kinds of income
a subcontractor is ____ an employee
to set up quickbooks to automatically use ______ and credits go to edit ______
to track accounts payable go to ____ bills then ____ bills
If a customer returns a damaged product or complains about a service you should create a ______ _____
a credit memo will ______ the amount owed by the customer and _____ the sale
to invoice from an estimate in increments you would use _______ invoicing
turn progress invoicing on (______) choose jobs & estimates (_____ _______)
preferences left column
do you create estimates
do you do progress invoicing
you can invoice for the entire _____ percentage of the entire _____ selected items/percentages of each item
an invoice is used when a customer purchases _______ or services but does ____ pay you at the time of the sale
an invoice for time and costs: when you enter an ____, item or time and assign it to a ________ a check box will appear if you decide that you don't want to ______ for the cost
expense customer invoice
when you record a customer payment quickbooks automatically _____ the payments in the undeposited funds account. (you received the _____ but did not bring it to the bank yet)
after you have made a ____, select the payments in the ______ that have not yet been deposited
Will there be less money in your checking account if a customer gives a check that is NSF (non-sufficient funds)
Does the customer still owe you the amount of the check + the NSF fee?
Do you have to record the NSF fee when you reconcile the checking account?
yes yes yes
auto filter allows you to export a _____ to excel with the feature that allows you to have a ____-____ list for each column to allow flitering
report drop down
The vendor balance detail report... For each _____ there will be a list of transaction that _______ to what you owe
A ______ group is an easy way to organize memorized reports
Quickzoom displays a _____ of transaction that make up that number
the quickzoom features shows detail about a number on a report? True/False
To access reports in quickbooks. Go to the (3 answers)
reports menu reports center click on reports at the bottom of a list
when you collapse a report only the _____ accounts are visible. subaccounts are _____ to hide unnecessary detail
to display or print a batch/group of reports do you choose items, process multiple reports or reports process multiple reports
reports process multiple reports
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