QuickBooks Chapter 2 Test
Item
Before you can add something to an invoice, it must be created as a(n):
He can mark the unwanted customers as inactive
Carlos has many customers in his company file and it's getting difficult for him to navigate through them all. He wants to clean up his list of customers by removing those he's pretty sure won't be coming in again. How can Carlos do this?
Match each item type with its description
Discount: Use this to subtract a percentage or fixed amount from a total or subtotal Inventory Part: What you purchase, track as inventory, and resell Subtotal: Use this to apply a percentage discount or surcharge to many items Sales Tax Item: Calculates a single sales tax at a specific rate, which you pay to a single tax agency Payment: Records partial remittance at the time of sale and reduces the total amount owed Service: What you charge for or purchase
He can edit the customer name in the Customer Center, as any changes made to the customer record will change all future and past transactions
Eisa recently added a new customer. After about a week of entering transactions for that customer, Eisa notices that he misspelled the customer's name when he originally created the record. How can Eisa most effectively correct the problem?
Anything the company buys, sells, or resells in the course of business
In QuickBooks, what is considered an item?
He must first enter his customers into the Customers & Jobs List
Jemal is trying to create an invoice, but in the Customer:Job list, only < Add New> is showing. What must Jemal do to populate his customer list?
She can set defaults for specific information for each customer
Kendall is frustrated with having to manually populate every field whenever she enters a transaction. What can she do to help automate this process?
He can group them into subitems under a general term
Kyle's Item List includes many items for various cleaning service. They all start with different letters, so they don't appear together in the list, which means he must scroll up/down when choosing more than one service to include on an invoice. How can Kyle make finding his cleaning services items easier?
False
Lists in QuickBooks are used for storing your list of accounts
True
Non-inventory items are tracked in the Cost of Goods account
True
Subitems do NOT affect the accounting behind the scenes
False
To edit an existing transaction in QuickBooks, you void it and the re-create it
Void
To remove a transaction and still retain a record of it, use the ____ command
True
Use a sales graph to display your sales by item, customer, or rep.
Match each form type to its best description and use
Used to gather customer charges for a specific period: Statements Used when a customer does not pay at time of service: Invoice Used when a customer makes a payment at time of service: Sales Receipt
Income will be overstated and Accounts Receivable will not be cleared out
What happens behind the scenes if you don't use the Receive Payments window to record a payment on an invoice?
Customer
What must you specify when creating an invoice?
List Entries
What type of information can the Search feature help you find?
At any time
When can you add a new customer or job to the Customer Center?
Undeposited Funds
When you enter a Sales Receipt transaction, where do the funds go?
All of these options
Which aspects of doing business with customers are set up and executed in the Customer Center? Managing payment terms Setting up sales tax Tracking Customers
All of these options
Which of these is an action you can take in the Lead Center to help track potential sales leads? Input contact and local information Keep notes Create and track tasks
False
You CANNOT add information to a customer entry; you must enter the information into a job
False
You CANNOT edit a customer record after it has been created
True
You CANNOT merge more than two customer names at one time
