Question: When should you use the categorize option for a transaction in the bank feed? When QuickBooks has suggested a match You should never do this

When should you use the categorize option for a transaction in the bank feed?
When QuickBooks has suggested a match
You should never do thisQuickBooks will always have a recommendation
When theres no existing record of the transaction elsewhere in the clients QuickBooks account
You should never do this; transactions should always be categorized earlier in the workflow

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Question 37 of 50 Your client is using advanced matching in the bank feed to find a match for a deposit that was made last week. While in the match transactions screen, he realizes that a rebate...

Q:

C & E (Both or just one of these answered were wrong.) Question 37 of 50 Your client is using advanced matching in the bank feed to find a match for a deposit that was made last week. While in the...

Q:

Certification x Question 37 of 50 Your client is using advanced matching in the bank feed to find a match for a deposit that was made last week. While in the match transactions screen, he realizes...

Q:

Please help to answer the questions using Quick Books Online -5e (2021) 31. A Sales Receipt is essentially a combination of which two transactions? (Select two answers) Select one or more: a. Bank...

Q:

QuickBooks Online Certification in Australia 11. What does QuickBooks in partnership with Employment Hero offer clients when it comes to payroll? A Automation of calculations to help reduce errors,...

Q:

ATTENTION TUTORS PLEASE HELP ME IN ANSWERING THIS ATTACHMENT WORKSHEET I NEED IT FOR CLASS IN ACCOUNTING THANK YOU HAVE THE ANSWERS IN YELLOW PLEASE SEE ATTACHMENT Question 1 of 15 1. A small...

Q:

You know that when you connect to your bank and credit cardaccounts with QuickBooks, It will scan all your bank data lookingfor matches, and recognized transactions. You can match the banktransaction...

Q:

Please help answer all answers. Thank you. For questions 15 just skip. If anyone knows these answers I'm willing to pay more. 12. 17. 18. Which of the following is a feature in the QuickBooks App...

Q:

Please complete the attached worksheet thank you and highlight the answer in yellow see attachment Question 1 of 15 1. A small consulting company wants to make the switch to QuickBooks Online. All of...

Q:

I need some assistance with this worksheet Please and Thank you. I JUST NEED THE ANSWERS FOR THEM THANK YOU THEY ARE 5 SECTIONS WITH A TOTAL OF 15 QUESTIONS Question 1 of 15 1. A small consulting...

Q:

Explain the working, algorithm, and time complexity of the following sorting algorithms: BogoSort or Permutation Sort Gnome Sort Sleep Sort The King of Laziness / Sorting while Sleeping Odd-Even...

Q:

SureTight Company began work on a four year construction project on January 1, 2007 and uses the percentage of completion method. The contract price was $4,000,000 and estimated total costs were...

Q:

hen we assume in our calculations for capital budgeting decisions that all cash flows occur at the end of individual years during the life of an investment project when, in fact, they flow more or...

Q:

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....