What do custom fields in QuickBooks allow you to do? Track information important to your employees Track information important to you and your customers Create new types of transactions Change the layout of QuickBooks Which option is NOT included in the Chart of Accounts customization? Adding new columns Removing columns Changing account balances Renaming columns What is required to create a Fixed Asset account in QuickBooks? Choosing a Detail Type Entering a vendor name Selecting a tax code Entering an opening balance When creating a loan account, what Category Type should you choose? Current Liability Non-Current Liability Long-Term Liabilities Other Liability What is a recommended step when setting up new expense accounts? Always include an opening balance Add a Default Tax Code Assign an account number Link the account to a customer Why would you create subaccounts in QuickBooks? To group unrelated expenses together To break down expenses into greater detail for reporting purposes To hide specific transactions To increase the number of accounts in your Chart of Accounts