Exam 1: Quickbooks Online Test-Drive

The cloud stores data on web servers instead of your computer.

When you sign out of the test drive, your data is:

The balance sheet lists what you own (assets), what your debts are (liabilities), and what you've invested (equity).

A complete list of a business's accounts and their balances is called:

A Chart of Accounts is a list of the company snapshot accounts.

To see recent transactions, use this icon:

The Test Drive company is also known as:

Another name for the Profit and Loss report is the Income Statement.

To create transactions, use this icon:

QuickBooks Online updates:

The link between the user and the software is called the:

Business processes are a collection of related, structured activities that produce a specific service or product.

Accounts are used to classify transaction information for:

Subcategories for account classification are shown within the Type column on the Chart of Accounts.

You can only use a mouse to move around QBO.

Liability accounts usually start with the number 3000.

To access Sales (customers), Expenses (vendors), Accounting (chart of accounts), and reports, use the Settings Menu.

This report shows unpaid invoices for the current period:

To go to the Settings menu, use this icon:

The Dashboard is the central place for getting an overview of the company.