Question

Which of the following statements is true of vendor credits in QuickBooks Online? (select all that...

  1. Which of the following statements is true of vendor credits in QuickBooks Online? (select all that apply)

    Vendor credits cannot be applied to a bill that has already been received

    Vendor credits post as a debit to decrease accounts payable

    Vendor credits post as a debit to increase accounts payable

    A vendor credit can be linked to a cash refund, when the cash is deposited

10 points   

QUESTION 2

  1. Before a client sets up a recurring monthly charge for a credit card or ACH, Visa and Mastercard, what do you or your client need to do to make the process compliant?

    Get the customer to sign an authorization form

    Take a photo of the customers payment card

    Get authorization from the customer’s bank

10 points   

QUESTION 3

  1. What defines a transfer?

    Moving money from a checking account to a vendor

    Moving money from one balance sheet account to another balance sheet account

    Moving money from an income account to a bank account
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