1. What are the differences between ITEMS and ACCOUNTS?
2. What are the two primary Reports in QuickBooks (financial statements)?
3. What is the difference between accrual and cash basis?
4. What is the difference between Entering a Bill (and Bill Payment) and writing a check?
5. What is the Undeposited Funds Account?
6. What are the steps to take to accept a customer’s payment and record it in the bank?
7. What do you look for when “analyzing” financial reports?
8. What is a Sub-Account? And why would you use it?
9. What does the collapse and expand button do on standard reports?
10. What is the difference between Profit and Loss Report and the Balance Sheet Report?
11. How do you get QuickBooks financial reports to excel? And why would you do that?
12. When reconciling a bank account, where does the value of the “Beginning Balance” come from? Where does the “Ending Balance” come from?
13. What is the purpose of reconciling the bank account? What are you supposed to do with the transactions that did not reconcile?
14. What is the difference between Cost of Goods Sold and Operating Expenses?
15. How do you program QuickBooks to repeat a recurring transaction?

Answer rating: 100% (QA)

Here are the answers to your QuickBooks questions 1 Items represent what is being soldpurchased and ... View the full answer