What is the function of the bill window

Assignment Help Accounting Basics

Reference no: EM133357657

1. Explain the difference between the Chart of Accounts and the Account List in QuickBooks.

2. List the system defaults account in Quick Books and explain the purpose of any FOUR default accounts (hint- there are many such accounts in Quick Books).

3. A company may have many Vendors depending on it size and the industry in which it operates. Explain in your own words who are the company vendors and give some example of a few vendors.

4. List the general ledger accounts that are associated with Vendors.

5. What is the function of the Bill Window? What GL account is Bill Window associated with?

6. Write out the journal entry created once an entry is made in Bill Window.

7. If a credit is issued to a Vendor, how will this affect the General Ledger Account?

8. What information is provided by the Vendor Balance Detail Report?

9. A company may have many Customer depending on it size and industry in which it operates. Explain in your own words who are the company's customers.

10. What is the function of the Invoice Window? What GL account is Invoice Window associated with?

11. Write out the journal entry that is created once an entry is made in Invoice Window.

12. If a credit is issued to a customer, how will this affect the General Ledger Account?

13. Which window will you access to record a cash sale?

14. Using the sample company of Craig Design - print the trial balance and explain the important parts of the Trial Balance.

15. Using the Sample Company of Craig Design - print the financial statements and explain the purpose of each of the financial statements.

Reference no: EM133357657

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