Enhance Your Learning with QuickBooks Software Flash Cards for quick learning
A popular accounting software developed and marketed by Intuit, used by businesses to manage their financial transactions and records.
A list of all the accounts used by a company to record its financial transactions, categorized into assets, liabilities, equity, income, and expenses.
A document sent to customers requesting payment for goods or services provided, including details such as item descriptions, quantities, prices, and payment terms.
The amount of money a company owes to its vendors or suppliers for goods or services purchased on credit.
The amount of money owed to a company by its customers for goods or services sold on credit.
The process of comparing the balances in a company's accounting records with the balances shown on the bank statement, ensuring they match and resolving any discrepancies.
The process of calculating and distributing wages or salaries to employees, including deductions for taxes, benefits, and other withholdings.
A complete record of all the financial transactions of a company, organized by accounts and used to prepare financial statements.
The process of creating copies of data files to protect against data loss, and the process of recovering those files in case of accidental deletion or system failure.
Key combinations that perform specific actions or commands in QuickBooks, allowing users to navigate and perform tasks more efficiently.
Reports that summarize the financial performance and position of a company, including the balance sheet, income statement, and cash flow statement.
The process of tracking and controlling a company's inventory, including purchasing, storing, and selling goods.
The process of creating a plan for income and expenses, setting financial goals, and monitoring actual performance against the budgeted amounts.
A tax imposed on the sale of goods and services, collected by businesses on behalf of the government and remitted to the appropriate tax authorities.
Additional fields that can be added to forms and reports in QuickBooks to capture and track specific information unique to a company's needs.
The process of transferring data into or out of QuickBooks, allowing users to import data from other systems or export data for analysis or sharing.
Recurring transactions that can be set up in QuickBooks to automatically generate and record on a specified schedule, saving time and reducing errors.
The process of evaluating a company's financial performance and position using various financial ratios, trends, and benchmarks.
The ability for multiple users to access and work on the same QuickBooks company file simultaneously, improving collaboration and productivity.
Documents used to record customer orders for goods or services, including details such as item descriptions, quantities, prices, and delivery dates.
Documents used to request and authorize the purchase of goods or services from vendors, including details such as item descriptions, quantities, prices, and delivery dates.
The process of tracking and allocating costs to specific jobs or projects, allowing businesses to determine the profitability of each job or project.
The feature in QuickBooks that allows users to connect their bank accounts and credit cards to automatically download and categorize transactions.
Payments that are automatically processed on a regular basis, such as monthly subscriptions or recurring bills, saving time and ensuring timely payments.
The process of estimating future financial outcomes based on historical data and assumptions, helping businesses make informed decisions and plan for the future.
Documents sent to customers summarizing their account activity, including outstanding balances, recent transactions, and payment due dates.
Documents received from vendors summarizing the company's outstanding balances, recent transactions, and payment due dates.
A feature in QuickBooks that tracks and records all changes made to transactions and data, providing a detailed history for review and analysis.
Measures and protocols implemented to protect sensitive and confidential data from unauthorized access, loss, or theft.
Calculations that compare different financial values to assess a company's performance, liquidity, solvency, and profitability.
Documents used to provide customers with projected costs for goods or services, including details such as item descriptions, quantities, prices, and expiration dates.
Tangible or intangible assets owned by a company that have a long-term useful life, such as buildings, vehicles, equipment, or patents.
The process of monitoring, analyzing, and optimizing the inflow and outflow of cash in a company, ensuring sufficient liquidity for operations and financial stability.
The process of cleaning up and organizing a QuickBooks company file to improve performance, reduce file size, and eliminate errors or inconsistencies.
Documents used to record immediate payment for goods or services at the time of sale, including details such as item descriptions, quantities, prices, and payment methods.
Transactions that involve returning purchased goods to vendors for various reasons, such as defects, damages, or incorrect shipments.
Transactions that involve accepting returned goods from customers for various reasons, such as defects, damages, or customer dissatisfaction.
Documents issued to customers to provide credit for returned goods, overpayments, or other adjustments to their accounts.
Reports and forms filed with tax authorities to report and remit sales tax collected from customers during a specific period.
Discounts offered by vendors for early payment of invoices, reducing the total amount owed by the company.
Discounts offered to customers for early payment of invoices, reducing the total amount receivable by the company.
Transactions that involve moving funds between different bank accounts within the company, such as transferring money from a checking account to a savings account.
The process of setting financial goals, creating a budget, and developing strategies to achieve those goals, ensuring long-term financial stability and growth.
Documents received from vendors requesting payment for goods or services purchased, including details such as item descriptions, quantities, prices, and payment terms.
Documents sent to customers requesting payment for goods or services sold, including details such as item descriptions, quantities, prices, and payment terms.
Reports created in QuickBooks to provide specific information and analysis tailored to a company's unique needs and requirements.
The process of creating copies of data files to protect against data loss, ensuring that important information can be recovered in case of accidental deletion, hardware failure, or other disasters.
The process of transferring data from external sources into QuickBooks, allowing users to import information such as customer lists, vendor lists, or inventory items.
The process of transferring data from QuickBooks to external sources, allowing users to export information for analysis, reporting, or integration with other systems.