Bus 342 Key Terms QBO Ch. 1

Question	Answer
QBO Settings	Company Settings and QBO Chart of Accounts
Company Settings	Set up company and preferences
QBO Chart of Accounts	List of all accounts
QBO Transactions	Inputs into the financial system
QBO Reports	Outputs of the financial system: Info for decision makers, financial statements, tax returns, and management reports.
Dashboard	Overview and summary of key information
Banking	Bank and credit card accounts and transactions
Sales	Transactions related to customers and sales (Money In)
Customers and Leads	Customer info and marketing leads
Cash flow	Money in and out
Expenses	Transactions related to vendors and expenses (Money Out)
Projects	Organizes and tracks the timeline and profitability of projects
Payroll	Employee transactions and payroll (Money Out)
Time	Time tracking for employee and contractors
Reports	Summarize output for financial system
Taxes	Sales tax and possible payroll tax
Mileage	can track mileage
Accounting	Chart of accounts
Capital	Funding through Quick Book Capital or marketplace of partner lenders
Commerce	Connect QBO company to sales channels
Apps	Info on apps that work with QBO
My Accountant	Connects info to business accountant
QBO Tools	Gear, (+) New, Search
Gear	Lists various tasks
(+) New	Lists various transactions that can be created
Search	Can search for amounts, dates, display names, and more
QBO Help	? Help
Sole proprietorship	1040 Schedule C
Partner (LLP)	1065
C corporation	1120
LLC	Can be: Sole - 1040 C, Partner - 1065, of S Corp - 1120 S

Resource summary

	Created by Richard Kramer about 1 month ago