in qyuickbooks Which steps should be followed to set up the different types of payments accepted from clients?

Q: Explain the alternatives in accounting for prepaids.

A: Prepaid expenses: Prepaid expenses refer to the payments which are made in advance and the amount…

Q: Identify the following users as either external users (E) or internal users (I): _______ Share…

A: Users of financial information:   Users of financial information are broadly classified into two…

Q: IF YOU ARE GIVEN OPPORTUNITY TO CHOOSE TO OPEN AN ACCOUNT, WHICH WILL YOU PREFER AND WHY?

A: A bank account is the account in which a person can deposit and withdraw his or her money. In order…

Q: Which of the following are unique identifiers associated with checking accounts? account number O…

A: Account number: An account number is a unique identifier for your personal bank account. It tells…

Q: Show your financial calculator inputs for the payment calculation.

A: Interest refers to the cost of money borrowed from a lender. It can be simple or compound. It is…

Q: benefits and risks

A: There are many benefits in using digital payment to the customers, some major benefits are mentioned…

Q: What is the relationship between future exchange and clearinghouse?

A: Future exchange and clearing house are two different parts of future markets.

Q: Describe Deposits and Advances from Customers.

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Discuss any two features of digicash that fulfill the requirements of the electronic payment system.

A: Electronic payment system is the system which has been established within the system of the money…

Q: What document initiates the billing process?

A:

Q: Find an Example of a Commercial credit policy from the internet and highlight thei important parts…

A: The commercial credit, often known as the business credit sheet, corresponds to a sum of the…

Q: Which one of the following will verify the documents and decide on their payability? Select one: A.…

A: Any agreement of consignment of goods through shipping or sale of goods through shipping has…

Q: Distinguish between an accounts payable file and a vouchers payable file.

A: Accounts Payable system:   The accounts payable system looks over the due payments to be processed…

Q: In what way are sales to MasterCard and VISA customers recorded?

A: The Answer:

Q: Which of the following events would be LEAST likely to be modeled in an REA diagram?a. customer…

A: Definition: REA model: The graphical representation which shows the re-engineered accounting system…

Q: Requirements: Draw a decision tree for the "mailing list" problem, including all probabilities and…

A:

Q: WHAT ARE THE MAIN DOCUMENTS USED FOR PAYDAYLOAN ?

A: A payday loan is a high-cost unsecured loan that can be availed at the time of a short-term…

Q: whats a pros and cons of using an email transfer money?

A: An email transfer money allows customers to transfer funds between personal accounts, using online…

Q: How do you find invoice

A: The  question is based on the concept of Invoice and method to retrieve it. Invoice is a commercial…

Q: Explain how suppliers and creditors evaluate the liquidity of a client based on the customer's…

A: Introduction: The capacity of a corporation to satisfy its immediate or short-term financial…

Q: If you offer gift cards to clients, when should you record your revenue

A: According to the revenue recognition policy, the timing of recording income in the books must be…

Q: Identify and describe the different billing schemes.

A: Billing schemes are those techniques in which fraudulent invoices are submitted for fictitious goods…

Q: Why digital payment has changed the fiance systems?

A: In the recent past and last few years’ digital payment systems have boomed. Different forms of new…

Q: Display graphically and explain the mechanism of settlements by payment orders

A: Settlement by payment order is a process in which the bank transfer funds immediately with no…

Q: What is the definition of a customer?

A: A customer is an individual, firm, company or any other person who purchased goods or services from…

Q: What can you do to ensure that all payments are accurately coded and allocated to accounts?

A: SOLUTION- Coding in accounting is the process of assigning numbers or letters to data to create a…

Q: Where does the client initiate the setup of QuickBooks Payments

A: QuickBooks seems to be an accounting software company whose services include desktop, internet, and…

Q: Differentiate between a remittance advice and a customer invoice within the sales process of an…

A: Accounting exchanges are those exchanges that legitimately influence the financial statements of a…

Q: The chart that gives data about payments and payment schedule is called what?

A: Introduction: Payments and payment schedules: payment schedule includes all the periods of payment…

Q: Display graphically the mechanism of settlements by transfers upon request of a payee (direct…

A: Direct Debit is a payment method in which a third party is granted permission to take payments from…

Q: For VAT and Percentage transactions, state when will be the deadline for the remittances

A: VAT is value added tax and it is indirect tax which means tax is paid by consumer of goods or…

Q: Describe how accounts are used to record information about the effects oftransactions?

A: Firstly the transaction are recorded in the original books i.e. Journal, when the transactions are…

Q: authorization payment

A: Authorization of payment means allow subordinates to make payment after approval of top executives…

Q: (a) Identify three risks typically encountered when receiving and recording payments. (b) Analyse…

A: Three risks typically encountered when receiving and recording payments :- Risks in payment systems…

Q: Explain the advantages of an electronic billing cycle

A: The electronic billing cycle is the use of of technology. it is the process in which the bills are…

Q: What additional issues are involved with miscellaneous, other, and clearing accounts?

A: Accounting is a system, or a process of collecting and organizing economic transactions, analyzing,…

Q: Explain how suppliers and creditors use a customer’s payment practices to judge liquidity.

A: Introduction: Liquidity is the ability of the company to meet its immediate or short-term debt…

Q: explain mechanism of settlements by collection orders

A: Profits or losses used to be computed as difference between the settlement price of the previous day…

Q: ware to analyze the customer and vendor’s Payments and Receipts? Justify the figures using

A: Software used:  QuickBooks Premier Plus Contractor Edition 2019-Desktop   Needed:  A report showing…

Q: how to bill customer using accrual-basis accounting

A: in Accruals accounting of income or revenue they are billed when goods or services are given but…

Q: How does someone set up an RRSP account? What is an RRSP

A: An RRSP account is basically stands for Registered Retirement Savings Plan. It is an account which…

Q: Give one advantage of using a vouchers payable system.

A: Voucher: It is a written document or statement that confirms the happening of certain transactions…