Quickbooks

The ___________ report gives information of what jobs an employee or contractor worked on

Time by name

The default markup percentage is entered in the ___________ Company Prefrences

Time;expense

Time is recorded on a __________________

Timesheet

The _______________ shows you the accounting behind the scenes of any transaction

Transaction Journal

The ______________ report shows the balance of each account in Debit and Credit format for a specific date

Trial Balance

____________ Items can be used on both expense and sales forms

Two-sided

When a payment is recorded, the ________________ account is increased

Undeposited fund

________________________ resets the beginning balance to the previous period but does not make changes to the bank service charges or the interest income from the previous period.

Undo previous reconciliation

If a customer underpays and invoice you can either leave the unpaid balance as an underpayment or ______________ the extra amount

Write off

_______________ information is the mount an employee has been paid or collected from the employee's paycheck for each payroll item so far in the current year

Year-to-date

The Difference in the Reconciliation window should be _________ when you click the Reconcile Now button

Zero

To adjust expense accounts with items, create a _______________

Zero-dollar check

To include pass-throughs on an invoice, click the ____________ button.

add time/cost

The ________________ report shows all vendor transactions, including both cast and credit vendors

list by vendor

Each of your employees should fill out a _________

w-4

If you are entering payroll information mid-year you will need to enter the _____________ payroll information

year-to-date

Quickbooks Pro and Premier uses the _____________ Inventory method when calculating the value of current inventory

Average Cost

You should create a ______________ when receiving merchandise before receiving the bill

Item Receipt

The __________________ displays your company's items and their price

Item price list

_______________ tracks vendor transactions by appropriate customer or job

Job Costing

Customers can have multiple _____________ that help differentiate the income and expenses associated with separate projects

Jobs

You can manually change the column width and format of a template in the ______________

Layout Designer

Payroll withholdings, company taxes, company contributions are called Payroll _______________

Liabilities

By clicking the _________________ button on the Begin Reconciliation window, you can choose to generate a discrepancy report, undo the last reconciliation, or restart a reconciliation

Locate Discrepancies

The ______________ is a percentage of the actual cost of an expense or an item that is added when passed on to the customer

Markup

QuickBooks ______________ existing transactions with similar downloaded transactions

Matches

To delete a memorized transaction, select the transaction in the ___________________ and select Delete Memorized Transactions

Memorized transaction list

You can ___________ two separate accounts of the same type into one account

Merge

Use the ______________ report to find gaps in the check number sequence

Missing Checks

___________________ items are used for products that are brought and/or sold but are not tracked as inventory

Non-inventory parts

Bounced checks are also referred to as ________________ transactions

Non-sufficient funds

A ___________ Purchase Order is a PO that has not received all of its items and is not closed

Open

The _________________________ Report displays customers with unpaid or partially paid invoices as well as the age of invoices

Open Invoice

You can set up an account's __________________ opening balance by entering it in the New Account window or creating a General Journal Entry

Opening Balance

To enter information about an owner for the first time, create a new name in the _______________ List

Other name

The _________________ account tracks the money the owner of a sole proprietorship puts into the company

Owners investment

To print payroll information for a particular paycheck without printing a check, create a _____________

Pay stub

The ___________ has three tabs, Pay Employees, Pay Liabilities, and File Forms

Payroll Center

Payroll taxes, 401k contributions, and medical insurance that have been deducted from a paycheck and due a vendor are called __________________

Payroll Liabilities

The ______________ report is used to track Payroll Liabilities by Payroll Item

Payroll Liability Balance

Use the _________________ to setup Payroll items

Payroll Setup Interview

The ______________ report displays the earnings, taxes and net pay of each employee

Payroll Summary

QuickBooks calculates the taxes taken out of each paycheck based on the ________________

Payroll Taxables

Quickbooks keeps a __________ inventory that records value on hand and tracks changes with sales and purchases

Perpetual

Always include a ______________ number on the invoice if a customer has supplied you with one, otherwise you may not receive their payment

Purchase Order

_____________ generates a detailed report when a report item is double clicked, and is represented visually by a magnifying glass with a Z in the center

Quickzoom

A customer has returned merchandise that has already been paid for. You can issue her a ____________

Refund

The _________________ generates a pie chart of the company's sales

Sales Graph

A ________________ increases Undeposited funds and an appropriate income amount

Sales Receipt

____________ Items are used on sales forms to calculate the amount of sales tax due on each sale

Sales Tax

Create a _______________ Report to see all sales transactions organized by customer

Sales by customer summary

The _____________ report shows sales tax collected by locality

Sales tax liability

Adding ____________ allows you to track an account in more detail

Subaccount

Creating __________ helps organize the item list by grouping similar items into categories that can be subtotaled in sales and graph reports

Subitems

The _____________ assigned on an invoice indicate when payment is due

Terms

A vendor allows you to pay using 2% 10 Net 30 terms. This means you are eligible for a discount if paid within _____ days

10

A record of the time spent by a single person performing a single service on a specific date is called a ______________

Activity

Only an _______________ can make changes to the Company Prefrences

Administrator

QuickBooks Certified _____________ are bookkeepers, accountants and consultants who certified to advise QuickBooks users.

Advisors

The final step to setting up a QuickBooks file is to ______________ the file

Backup

If an invoice becomes uncollectible, you will need to write it off as a _____________

Bad Debt

Asset, Liability, and Equity accounts are all listed on the _______________ report

Balance Sheet

Using ______________ decreases manual entry and increases accuracy

Bank Feeds

The _________________ field in the Begin Reconciliation window is calculated by Quickbooks and cannot be entered manually

Beginning Balance

When a vendor sends you an invoice, you are receiving a __________

Bill

Subtotal is and example of a _________________ because is uses the amounts of the lines above to calculate its amount

Calculating Item

A company with multiple profit centers could track the revenue and expenses for each using ____________

Classes

Transactions that have been checked through a reconciliation process are referred to as ____________ transactions

Cleared

The ____________ entry transfers net income into Retained Earnings or Owner's Equity account

Closing

You can lock a data file to block users from making transactions during a closed period by setting a _______________

Closing Date

Sales Tax __________ are classified for calculating and reporting sales tax and are assigned to each product or service item, as well as to each Customer

Codes

The _____________ report displays each customer name and phone number followed by their overdue invoices

Collections

________________ Preferences make global changes to you QuickBooks file, affecting all users

Company

_____________ are forms that reduce the amount due from customers

Credit Memos

Current assets divided by current liabilities equals the ____________

Current Ratio

_________________ allow you to record information on customers or vendors when default fields are not applicable

Custom Fields

The ___________ Report can be accessed from the Customer Center and displays unpaid customer invoices

Customer Open Balance

You should send a _____________ to customers whose payment is past due

Customer Statement

To save a customized report, click ___________ at the top of the report window

Customize report

____________________ Terms calculate the due date based on the day of the month

Date-Driven

When customizing a template, click the _____________ button in the Additional Customization window to have QuickBooks distribute fields on a template

Default

The ________________ creates a company file, sets up the default accounts based on industry type, and walks you through a step by step process of setting up a QuickBooks Prefrences

Detailed start

The _______________ report displays a list of employees and their contact information

Employee contact list

______________ = Assets - Liabilities

Equity

A ________________ allows you to debit one or more accounts and credit one or more accounts in a single window

General Journal Entry

By making an account ___________ you cause it to disappear from the Chart of Accounts list. It will only be displayed if the Include inactive box is checked

Inactive

The five main account types are Asset, Liability, Equity, ______________ and Expense

Income

You can see all of your unbilled and unpaid sales transactions in the __________________

Income Tracker

___________________ are items that are made up of multiple items, all of which are Service, Non-Inventory Parts, Inventory Parts, or Other Charge type items

Inventory costing items

The ____________ report displays the value of all inventory items as of a specific date

Inventory valuation summary

The __________________ displays name, address, and other contact information of the company's vendors

Vendor contact list

People and companies that you purchase products or services from are called ___________

Vendors

To remove the payment amount from a check without losing other check information such as check number, you can _________ the check

Void

You should print paychecks as _______________ checks

Voucher

The ___________ button on the Reconciliation window closes but doesn't reset the cleared transactions in the window

leave

Click the __________ icon in the Chart of Accounts window to remove any sorting

diamond

To quickly see the original bill from the Pay Bills window, select the bill and click the __________ button

go to bill

When QuickBooks is run in networked office, make sure you are in ______________ mode to allow multiple users to access the file

multi-user

Sales Orders and Estimates are examples of _____________ entries, because no accounting entry is made

non-posting

You should generate a ______________ Report to see how much of each item is sold over a given date range

sales by item