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College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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
Transcribed Image Text:Identify the two best reasons that may indicate a transaction should
be excluded in bank feeds.
If the posting date and the actual payment date don't match in the bank
feed
If the client told you the transaction should be excluded
To remove transactions that were manually uploaded in error
If the transaction has already been manually posted and reconciled in
QuickBooks Online
If bank description doesn't match the payee name
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- Subject - account Please help me . Thankyou.arrow_forwardYour customer has paid their bill, yet the Accounts Receivable balance has not changed. Which of the following could have caused this error? A Bypassing the Pay Bills window and writing a check to the vendor B Deleting the deposit before reconciliation C Running the Open Invoices report before accepting payment D Bypassing the Receive Payments window and entering the payment directly in the Bank Deposits windowarrow_forwardIn sap, Which of the following outgoing payments will not require manual entry of bank account?a. Cashb. Credit Cardc. Checkd. Bank Transferarrow_forward
- In QuickBooks Online, what is the purpose of entering transactions manually in the register? Select an answer: to reconcile bank statements with QuickBooks Online records to track sales with detailed product/service items and at the customer level, without tracking accounts receivables to enter both money in and money out type of transactions directly in the register, particularly useful for entering multiple transactions in bulk to record a transfer of funds between bank accountsarrow_forwardWhat is the difference between a bank feed transaction and a manually entered transaction in QuickBooks Online? Select an answer: A bank feed transaction is a fixed asset, while a manually entered transaction is a current asset. A bank feed transaction is imported automatically from your bank or credit card company, while a manually entered transaction is entered manually by the user. A bank feed transaction is a liability, while a manually entered transaction is an asset. A bank feed transaction is an expense, while a manually entered transaction is income.arrow_forwardIn QuickBooks Online, what is the purpose of creating a deposit as income? Select an answer: to record income deposited in the business accounts that is not related to a specific customer transaction to reconcile bank statements with QuickBooks Online records to record a transfer of funds between bank accounts to track customer payments received for open invoicesarrow_forward
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