8. Accountant Certification - Receivables Overview Flashcards
Four steps to receivables
Invoice, Send, Collect, Reconcile
Q: Reconciling your Bill.com account with your accounting software can be done by ____. A. Utilizing the Reports sections and manually reconciling B. Using the direct sync function to automatically reconcile your accounting software C. Exporting the information from Bill.com and importing it to your accounting software
A: B is correct - Using the direct sync function to automatically reconcile your accounting software
Q: Synching with your accounting software does the following: A. Transfers customer information between systems B. Prints pdf copies of invoices C. Schedules customer payments D. Transfers receivables items between systems
A: A & D are correct
Q: New Fiber Fabrics sends Jane an invoice for materials in US Postal mail. This is the first time Jane has used this vendor and has no record in Bill.com. The paper invoice includes business address and email. What does Jane do using Bill.com? A. Calls the customer to find out more billing information B. Enters the invoice manually and invites the customer to join her payment network via email C. Send payments by paper check in US postal mail D. None of the above
A: B is correct - Enters the invoice manually and invites the customer to join her payment network via email
Q: A quick way to view overdue invoices would be from: A. Invoices page from the blue navigation side bar B. The Overview page: Open Invoices card C. Running a report in Bill.com D. Running a report in your accounting software
A: B. is correct - The Overview page: Open invoices card
Q: Maria would like to view only invoices that have been partially paid. She navigates to the Invoices page. Which filter does Maria use to only view partially paid invoices? A. Show B. Sent status C. Invoice date D. Payment status
A: D is correct - Payment status
