Your client's Undeposited Funds account has a negative balance. What could this mean? At least one customer
Question:
Your client's Undeposited Funds account has a negative balance.
What could this mean?
At least one customer payment was dated prior to its invoice.
At least one vendor payment was dated prior to its bill.
Revenue is overstated.
Accounts Payable is overstated.
Undeposited Funds is overstated
Which statement is true about the Write off invoices tool?
It's best used in cash-basis situations with no sales tax
It's accessed from the Sales tab or inside of any individual invoice
Only admin and accountant users have access to this tool
It's available in QuickBooks Online Plus and Advanced only
Which customization could be done to the Vendor List to help identify duplicates?
Group by phone, add a column for the zip
Group by phone, add a column for the phone
Group by city, add a column for the last name
Group by zip, add a column for the phone
When using the Write Off Invoices tool, what are 2 ways an accountant user can search for invoices?
Search client name for open invoices
Enter a dollar amount in the Balance less than field
Enter invoice number range in the From and To fields
Adds line items to the invoice using same items with a negative amount
Search by Invoice Template
Expert Answer:
Answer Explanation i Undeposited Funds account records amount received from customers t... View the full answer
