Podcast
Questions and Answers
How can you filter the For Review tab to see all the transactions QuickBooks Online thinks it has found a good match for?
How can you filter the For Review tab to see all the transactions QuickBooks Online thinks it has found a good match for?
- Click on the Gear icon, then select Show only matches
- Select the All transactions drop-down, then Recognized (correct)
- Select the All transactions drop-down, then Matched
- Select the All transactions drop-down, then Included
MB has been using proper workflow for her sales process by creating invoices, receiving payments, and recording deposits using the transaction screens in QuickBooks Online. Most likely she will be able to ___________ downloaded deposits to ____________ transactions in the Banking Center.
MB has been using proper workflow for her sales process by creating invoices, receiving payments, and recording deposits using the transaction screens in QuickBooks Online. Most likely she will be able to ___________ downloaded deposits to ____________ transactions in the Banking Center.
Match, existing
Which option correctly explains the steps to enable email receipt forwarding in QuickBooks Online?
Which option correctly explains the steps to enable email receipt forwarding in QuickBooks Online?
- Banking > Receipts > Forward from email
- Banking > Receipts > Turn on receipt forwarding
- Gear icon > Account and Settings > Advanced > Automation > Turn on receipt forwarding
- Gear icon > Account and Settings > Expenses > Receipts > Register your email to get started (correct)
The Receipt Capture feature in QuickBooks Online allows users to add receipts to QuickBooks using which 3 methods?
The Receipt Capture feature in QuickBooks Online allows users to add receipts to QuickBooks using which 3 methods?
What are the correct steps to add a bill using the Receipt Capture feature?
What are the correct steps to add a bill using the Receipt Capture feature?
In which 2 situations might a transaction need to be excluded from bank feeds?
In which 2 situations might a transaction need to be excluded from bank feeds?
Which 3 statements regarding bank rules are true?
Which 3 statements regarding bank rules are true?
What are 3 important reasons to reconcile bank and credit card accounts at set dates?
What are 3 important reasons to reconcile bank and credit card accounts at set dates?
Which 2 statements are correct regarding reconciling a bank account in QuickBooks Online?
Which 2 statements are correct regarding reconciling a bank account in QuickBooks Online?
How would you begin setting up a recurring transaction in QuickBooks Online?
How would you begin setting up a recurring transaction in QuickBooks Online?
What are the names of the three tabs listed across the top of the Reports Center?
What are the names of the three tabs listed across the top of the Reports Center?
Which report accounting method shows an overview of the money received and spent for a specific period?
Which report accounting method shows an overview of the money received and spent for a specific period?
What report in QuickBooks Online will show whether a client was profitable for a specific period?
What report in QuickBooks Online will show whether a client was profitable for a specific period?
Study Notes
Filtering Transactions
- To see all transactions QuickBooks Online has identified as matches, select the "All transactions" drop-down menu and choose "Matched" or "Recognized".
Managing Deposits
- If a user has followed proper invoicing and payment processes, they can "Match" downloaded deposits to "existing" transactions in the Banking Center.
Enabling Email Receipt Forwarding
- To enable email receipt forwarding, navigate to: Gear icon > Account and Settings > Expenses > Receipts > Register your email.
Receipt Capture Methods
- Receipts can be added using three methods:
- Forwarding an email to [youruniquename]@qbodocs.com from a registered email.
- Snapping a picture via the mobile app.
- Uploading a file through a browser.
Adding Bills via Email
- To add a bill using the Receipt Capture feature, forward the email to [yourcompany]@qbodocs.com, review the receipt, set the Document Type to "Bill," assign details, and then save.
Excluding Transactions
- Transactions might need to be excluded from bank feeds if:
- They have already been recorded and reconciled.
- They are downloaded multiple times.
Bank Rules
- Bank rules features include:
- Prioritization of rules.
- Editing, copying, or deleting rules.
- Automatic addition of transactions to the register.
Importance of Reconciliation
- Key reasons for reconciling bank and credit card accounts include:
- Verifying all transactions for the reporting period.
- Ensuring prior reconciled transactions remain unchanged.
Facts about Bank Account Reconciliation
- Only undo bank reconciliations through Accountant Tools.
- To complete reconciliation, the Statement Ending Date and Ending Balance are necessary.
Setting Up Recurring Transactions
- Begin setting up recurring transactions by selecting "Create" followed by "Recurring Transactions."
Reports Center Tabs
- The Reports Center features three main tabs: "Favorites," "Custom reports," and "Management reports."
Reporting Methods
- The "Cash basis" reporting method provides an overview of all money received and spent within a specific period.
Profitability Reports
- The "Profit and Loss" report details whether a client was profitable over a specific time.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
This quiz explores various features of QuickBooks Online, focusing on transaction filtering, deposit management, and receipt capture methods. Test your knowledge on how to handle invoices, email receipts, and bills effectively within the platform.
