Exam 10: Payment Methods, Inventory, Reports, and More

You must pay a monthly fee to access the Test Drive Company.

After you import the Chart of Accounts, you edit the and accounts to add Opening Balances and as of dates.

In the text, sales tax is charged on all inventory/product items.

The Vendor Balance Summary report shows unpaid balances for vendors.

A Delayed Charge is added to the customer's balance.

After editing an invoice in a closed period, you record the change in income by editing the adjusting entry.

To pay for small expenses using cash, you use the account.

When you do not receive all of the inventory items ordered, you prepare a Purchase Order for the amount on backorder.

Each Location of the business may use a different address and phone number.

The total amount of a purchase order shows as an amount due in the vendor's register.

There are three distinct areas of information for each employee: Pay, Profile, and Employment.

To access Import Data click the icon.

Cash and checks received from customers are entered into the account until the bank deposit is made.

When payment is made at the time of sale, the transaction is recorded on a(n) .

QuickBooks Online does not print .

When a customer returns an item from a sale on account, a(n) is completed.

When you return something that was paid for by credit card, you prepare a(n) .

A new product/service item cannot be added when creating a sales receipt.

Opening balances are only imported for Customers, Vendors, and Liabilities.

A company logo can be added to the company file and will appear on the Home Page and on Business Forms.