Your client is using advanced matching in the bank feed to find a match for a deposit that was made last week. While in the match transactions screen, he realizes that a rebate cheque was missing from the deposit, and he wants to enter it right onto the deposit. What two things are true about using the resolve difference feature in this scenario?
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- Certification Question 37 of 50 Your client is using advanced matching in the bank feed to find a match for a deposit that was made last week. While in the match transactions screen, he realizes that a rebate cheque was missing from the deposit, and he wants to enter it right onto the deposit. What two things are true about using the resolve difference feature in this scenario? One or more of your selected options was incorrect. Selecting even just one incorrect option will earn no credit for this question. Please try again. O QuickBooks Online creates a journal entry to reflect the added information QuickBooks Online creates a new deposit to reflect the added information O The total amount of the deposit - including the resolving transaction - will appear as two separate deposits on your bank reconciliation screen The total amount of the deposit - including the resolving transaction- will appear as a single deposit on your bank reconciliation scroen QuickBooks Online creates a…estion 4 Your client calls you because they are going through bank feeds and have a problem. They have a transaction in bank feeds that they know has been entered in QuickBooks Online, but there is no suggested match. All of their other matches have been correct. They tried to find a match and still couldn't find it. What might have happened? (Select 2) The transaction was entered using the wrong date The transaction was entered using the wrong source account The transaction was already reconciled before it came through bank feeds The transaction was posted using the wrong target account(QuickBooks Online) A client messaged you saying that there might be something wrong with the bank feed of their checking account. What would be the first thing to do to see if the bank feed will refresh? A. Select the update button in the banking center. B. Select the troubleshoot button from the advanced tab in accounts and settings. C. Select the pencil icon on the checking account tile and select contact bank. D. Select the pencil icon on the checking account tile and select trouble shoot.
- Credit Card Fraud and Identity Theft Loss of a credit card, the information on it, or your personal information can cause serious problems. For example, you could be required to pay for purchases you didn't make, or you could spend years repairing the damage to your credit rating. Consider the following two alternative behaviors. Behavior A If I receive an e-mail with a sales offer I like, rather than provide my account number through the e-mail link, I open a separate browser window and directly access the company's website to make my purchase. B I save all my charge receipts and reconcile them to my monthly statement, most often by accessing my account online. Which behavior is likely to reduce your chance of experiencing credit card fraud or identity theft? O Alternative A O Alternative B Both Alternatives A and B ONeither Alternative A nor BMa1. 1. Where can you enable account numbers for the chart of accounts? Multiple choice question A. The Enable account numbers slider from the Chart of Accounts screen B. The Advanced tab in Account and Settings C. The Customization option from Accountant Tools D. The Chart of accounts tab in Account and Settings 2. A client messaged you saying that there might be something wrong with the bank feed of their checking account. What would be the first thing to do to see if the bank feed will refresh? Multiple choice question A. Select the Troubleshoot button from the Advanced tab of Account and Settings B. Select the Pencil icon on the Checking account tile and select Contact bank C. Select the Update button in the Banking center D. Select the Pencil icon on the Checking account tile and select Troubleshoot 3. Which report would you use to show the least popular products? Multiple choice question A. Sales by Product/Service Summary B. Product/Service List…1. When a customer’s deposit is recorded using the Make Deposits window, Quickbooks creates a behind the scenes journal entry that will do what? A. Credit cash and debit checking B. Credit checking and debit undeposited funds C. Debit Checking and credit undeposited funds D. Debit cash and credit checking 2. How can you move your Quickbooks desktop company file, with all of your data, to a new computer? A. Create a portable file and restore it to a new system B. Condense the data file on the old computer to the drive space. Back up the file and then restored the condense data file to the new computer C. Install Quickbooks on the new computer, back up your computer file on the old computer and restore the file to the new system D. Export your company file to excel from the old computer, then copy this file over to your new computer.
- Which of the following is an external threat to revenue security? (select all that apply) 303 Walk-outs or skipping on the check Unsigned credit cards Quick-change artists BondingUsing Excel to Account For Bank Reconciliation Errors PROBLEM The following errors were found when the controller at Mitra Hotel was doing the October 31 bank reconciliation. Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. 1. On October 3, Mitra recorded a payment of an account payable at a different amount than the correct amount recorded by the bank. a. For each of these errors, indicate if and how it would be shown on the bank reconciliation, ▼ 2. 3. Recorded by Mitra $ Correct amount recorded by bank 360 630 On October 16, Mitra recorded a deposit for the collection of an account receivable at a different amount than the correct amount recorded by the bank. Recorded by Mitra 1. Payment of account payable Decrease to book cash balance 2. Collection of account receivable Increase to book cash balance 3. Collection of account…Please answer with reason for all why the option is correct and why the other options are incorrectPlease answer correct otherwise skip it 2-Which 2 actions does QuickBooks Online use to try and recognize bank feed items? Automatically create rule, based on past transactions Match amounts to several invoices or bills Apply user-created rule Match reconciled transactions Match transactions already entered
- Your friend, Gerald, has asked you to help him with his bank statement. He is sure there are some errors and some things just do not make sense to him. Study the bank statement shown below and answer the questions that follow. • The fee for deposits is R2,00 plus R1,00 for every R100,00. • Stop order payments cost R2,50 regardless of the amount. • Card purchases cost R1,00 regardless of the amount • Gerald's biggest expense is his accommodation, he pays rent to S. Yusuf. Questions 3.4 Use the information regarding the banking fee to find a mistake in the fee column. Identify the mistake and correct it. 3.5 How much rent does Gerald pay each month? 3.6 The tax of R2 440 has already been deducted from Gerald’s salary. What tax rate (percentage of his total salary) is he paying towards tax? Round off your answer to two decimal values.Look at these two sentences about Undeposited Funds in QBO: By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy ___________. When receiving a payment, make sure _________________. Which option correctly fills in these two sentences?1. To match your bank register with your bank statement; 2. the Deposit to account is Checking2. To match your bank register with your bank statement; 2. the Deposit to account is Uncategorized Funds3. To match your expenses with your bank statement; 2. the Deposit to account is Uncategorized asset4. To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds4 Ken is a customer at Orange Grove Bank and frequently banks online. One day he receives an email with his banks logo on the top. The email states: You have been preapproved for a premium credit card, with an introductory rate of zero percent APR. The email then asks Ken to click on a link provided in the email to activate his card. Ken clicks on the link and is directed to a website where he is asked to provide personal financial information and his Social Security number. What law, or rule, applies to this situation?