Question: Why is it important to understand the accounting equation when building athe chart of accounts in QuickBooks? Why do we attach account numbers to accounts

  1. Why is it important to understand the accounting equation when building athe chart of accounts in QuickBooks?
  2. Why do we attach account numbers to accounts in QBO?
  3. What is the accounting entry that happens when you create a sales invoice in QBO? What is the debit(s) and the credit (s)?
  4. This criterion is linked to a Learning Outcome
  5. In what situation would you use the 'sales receipt' transaction in QBO?

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