quickbooks test day 87 kelsey and lauren pd6

One of your customers opens a new location.they want you to perform some work at the new location, and all invoices should go to the original customer. how do you handle this?

• Create a New Customer, check the option "Is a sub-customer," and select "Bill with parent."

• Create a New Customer and select the "Bill with" checkbox.

• Create a New Customer and enter the same address and contact information.

• Create a New Customer. After the new customer’s name, add the original customer’s name in parentheses.

In QBO plus, entering a purchase order for inventory affects which accounts?

• Income and accounts payable are affected.

• It affects accounts payable only.

• No accounts are affected because purchase orders are non-posting transactions.

• Inventory assets and accounts payable are affected

why would a business choose to enter a bill and then pay the bill later instead of just recording the check or expense when paying the bill?

• You can’t write a check without a bill to attach it to

• The funds won’t have anywhere to go

• Entering and paying bills allows you to track accounts payable.

• It is against the law to not enter a bill if you receive one.

when would you enter a journal entry?

• To enter depreciation

• o correct errors (if you have a strong accounting background)

• For year-end adjustments

• All of the answers are correct

When entering a journal entry, what happens if the debits don't equal the credits?

• QuickBooks will not allow you to record the transaction.

• QuickBooks sends the difference to an adjustment account.

• Nothing. QuickBooks records the transaction as is.

• QuickBooks asks you what to do with the unequal amount.

What is the primary reason for setting a closing date in Quickbooks?

• To restrict users from deleting, editing, or adding transactions to a closed period, such as a previous fiscal year

• To transfer current year net income to retained earnings

• to delete prior year transactions

• To reduce company file size

You finished entering all the transactions for last years and just sent the file to the tax preparer. How do you ensure that no one accidentally deletes, edits, or adds a transaction to last year?

• In the Company Information settings, select the first month in your fiscal year.

• Click the Close Financial Year icon on the home page and enter the end of your fiscal year.

• Complete the Close the Books wizard

• Set a Closing Date and password in the Advanced tab of the Company Settings.

which form cannot be customized in Quickbooks?

• Estimate

• Sales Receipt

• Invoice

• Bill

Your employer wants you to include some legal fine print in the footer of every invoice. However, you already use the customer Message field to include a thank you message. How can you add the legal fine print to the bottom of all invoices without using the customer message field?

• While creating an invoice, click "Add footer text" and type the legal fine print there.

• In the Company Settings, click the Sales tab and select “Add footer text to sales forms.” Then type the legal fine print.

• In the Customize Form Style window, click the Footer tab and type the fine print in the footer text field.

• You can only have one message at the bottom of invoices. You could type the thank you in the Description of the invoice and use the Customer Message field for the legal fine print.

You need to create a recurring invoice. How do you do this in Quickbooks?

• Open the transaction form (invoice in this case) and click Make recurring

• From the Customer detail window, select Recurring Transaction from the New transaction dropdown

• Click the icon and select Recurring Transactions

• From the Vendor detail window, select Recurring Transaction from the New transaction dropdown