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Quickbooks Flashcards

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The tax form you use depends on the type of business entity you have. This drop-down list contains the most common types, from sole proprietorships and partnerships to corporations and nonprofits. When you select a type, QuickBooks assigns the corresponding tax form to your company file.

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When you convert from Quicken to QuickBooks, QuickBooks adds all the converted names to its Other Names List. See Customer Type List to learn how to move these names to other lists. Exchanging Data with Your Bank tells you how to get your QuickBooks bank accounts and your real-world bank accounts talking.

All of the above are convert from xero to qbo has anyone done this backup options. You can’t add accounts that are not on the QuickBooks default list. Finish the interview and add the accounts directly to the Chart of Accounts. Select the desired company file from theNo Company Openwindow. See the following article for detailed guidance in creating a QuickBooks Desktop company file. If you don’t see the Detailed Start option, you might using a different version since these steps are for Enterprise.

Using QuickBooks Setup

Is a special type of file that makes QuickBooks company files compact so you can email them more easily. These files take up less space because they don’t contain other files related to your company file, like letters, templates, logos, and images. A portable file also doesn’t contain a transaction log (.tlg file), which Intuit Technical Support can use to restore transactions if your file is damaged in some way. To make the conversion proceed as smoothly as possible, some cleanup of your Quicken file is in order.

QuickBooks places a checkmark in front of the accounts that are typical for your industry. Click an empty checkmark cell to add an account that the program didn’t select, or click a cell with a checkmark to turn that account off. You can also drag your cursor over checkmark cells to turn several accounts on or off. Screen is where you tell the program whether you keep track of the products you have in stock.

https://bookkeeping-reviews.com/ adds the cost of that employee’s “labor burden” to the job cost. A and B. None of the above.

Go to the QuickBooks home screen, and look for the gear-shaped icon located in the top right corner. To create a new company file, you choose ____ from the main menu bar, then click ____. You successfully reconciled the checking account last month. How can this happen?

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You notice that when you print an invoice, the information in a field is cut off (that is, it doesn’t fit). How can you fix this? Use the Layout Designer to make the field wider. Use a different Invoice template. This can’t happen in QuickBooks, as field sizes are automatically adjusted to fit whatever you type.


Changes the company’s start date. Deletes all transactions, as well as user passwords and access privileges. Particularly if you have been in business for some time, there are various advantages and disadvantage to consider. Such as the amount of time it will take to “catch up on data entry” and the value of having that data available.

It can’t happen. Someone changed the beginning balance amount. The bank transposed some numbers on a check or deposit.

QuickBooks Chapter 6

To identify where the account appears on the financial statements The first set of accounts appear on the Balance Sheet . Then the next types of accounts appear on the Profit & Loss Statement . How do you use Write Checks to pay Payroll Liabilities so your Payroll reports are accurate? On the Write Checks window, click the Items tab and enter the Payroll Items you are paying. On the Write Checks window, click the Payroll Items tab and enter the Payroll Items you are paying.

Note that most of the preferences will be found in the “Company Tabs” not the user tabs of the preferences. We’ll cover preferences in a later issue. Customizing your data file… QuickBooks wants to know all about the transactions you plan to enter.

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If these are not set up, a warning is sent to the agency. So that QuickBooks can enter the dates on the Payroll Calendar that checks are due. You don’t need to set deposit frequencies. QuickBooks does it for you.


When you click Save in the “Filename for New Company” dialog box, QuickBooks may take a minute or so to create the new file. In the meantime, a message box with a progress bar appears. When the company file is ready, the “Customizing QuickBooks for your business” screen appears.

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49. What is a reason to use the Items tab when entering a bill? To track expenses. To assign a cost to a job or purchase inventory. To track freight charges. There is not an Items tab on the Enter Bills form.

Fine-Tuning Your Converted Quicken Data

After you do so, QuickBooks lists only the most recent company file, clearing all the others off the list. Or maybe you used another accounting program like Peachtree or Small Business Accounting and have decided to move to QuickBooks. Or perhaps you’re switching from QuickBooks for Mac to QuickBooks for Windows. Whatever your situation, this section tells you how to prep your file for a smooth conversion and bring it over into QuickBooks for Windows. Screen asks whether you plan to write checks to pay bills immediately or enter bills in QuickBooks and then pay them later .


For example, record overdue scheduled transactions and send online payments before you convert your Quicken file. Also, in Quicken, delete accounts you no longer need, because after they’re in QuickBooks, you can’t delete them if they contain any transactions. And make sure that customer names are consistent and unique. If you’re in the middle of entering names, products and services, or bank accounts and want to get back to the “Get all the details into QuickBooks” screen, click Cancel.

You’ve selected and installed your product and now you are ready to get started. Before you can begin entering transactions, you need to create a company data file. There are several options to accomplish this, but the Easy Step Interview is, in my opinion, the best way to accomplish this task. Out of the box, QuickBooks lists up to 20 companies on this submenu . If you work with fewer companies, the submenu may have company files that you’d rather forget.

Different industries will track different types of data. By selecting your industry, you will be letting QuickBooks know what types of information you are most likely to need to keep track of. Choose the industry that best matches the product or service your business provides. Choose your industry carefully.

Select the Payroll Liability checkbox on the Write Checks window. 1) Sign up for a payroll service; and 2) complete the Payroll Setup Interview. So that Payroll Liabilities show up in the Pay Scheduled Liabilities list in the Payroll Center. QuickBooks uses this information to list the due date, status , amount, and other important information so you remember to pay your payroll liabilities on time. Why must you set deposit frequencies for the taxes or deductions your company has to pay ? This is required by State and Federal governments.

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