Identify the two best reasons that may indicate a transaction shouldbe excluded in bank feeds.If the posting date and the actual payment date don't match in the bankfeedIf the client told you the transaction should be excludedTo remove transactions that were manually uploaded in errorIf the transaction has already been manually posted and reconciled inQuickBooks OnlineIf bank description doesn't match the payee name

Answered: Identify the two best reasons that may…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 6TP: A bank reconciliation takes time and must balance. An employee was struggling in balancing the bank...

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Subject - account Please help me . Thankyou.
Please provide an answer along with an explanation, and clarify whether each option is correct or incorrect.
Your 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 window
When reviewing your client's Profit and Loss report, you see a number of transactions posted to the wrong account. However, the bank and credit card accounts have all been reconciled properly. Your client doesn't remember adding these transactions. What might have happened? Your client used the Reclassify Transactions tool Someone imported these transactions and their reconciliation status directly from Excel Your client added the transactions through Bank Feeds, using an item that posted to the wrong account Your client incorrectly added a transaction, accepted a suggested rule based on that posting, and also chose auto-add
In sap, Which of the following outgoing payments will not require manual entry of bank account?a. Cashb. Credit Cardc. Checkd. Bank Transfer
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 accounts
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Don't use Ai. Answer in step by step with explanation
What 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.
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: Withdrawals Deposits Other Balance, June 1 Deposits during June Cheques cleared during June Bank service charges Balance, June 30 Balance $ 9,100 35,080 4,580 4,360 4,360 $25,980 $30,500 $ 220 Cash (A) June 1 Balance 8,700 28,500 June Deposits 30,580 Cheques written June June 30 Balance 6,620 Requlred: 1. Prepare a bank reconciliation. A comparison of the cheques written with the cheques that have cleared the bank shows outstanding cheques of $480. Some of the cheques that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. HILLS COMPANY Bank Reconciliation June 30 Bank statement Company's books Ending balance per bank statement 6,620 Ending balance per cash account Additions: Additions: 8,620 Deductions: Deductions: Up-to-date cash ba ance 8.620Up-to-date cash ba ance Prev 1 of 2 Next >
In 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 invoices
Match definitions with vocabulary terms) Use theseterms to complete the statements that follow. You can use a term more than once or not at all.Bank reconciliation Firewall Misappropriation of assetsCash equivalents Fraud triangle Outstanding checkController Fraudulent financial reporting PhishingDeposits in transit Imprest system Remittance adviceFidelity bond Internal control Treasurern. The fraudulent practice of creating bogus websites or sending fake e-mails to get individuals to share personal information such as birthdays, passwords, and credit cardnumbers is called ._____________________________--

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