Chapter 6: New Company Set-up Flashcards

1
Q

Dimmed Account Type

A

The way QuickBooks recognizes system default accounts.

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2
Q

Account Numbers

A

A feature in a company file to identify accounts; must be activated on he Preferences window.

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3
Q

Lists - Customer & Vendor

A

Menu choice used to customize payment terms.

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4
Q

EasyStep Interview

A

Window where a new company file is created when using the Detailed Start method of New Company Setup.

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5
Q

Uncategorized Income

A

Account created by QuickBooks as an offsetting amount for Accounts Receivable.

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6
Q

System Default Accounts

A

Account created by QuickBooks to be used in the activities Windows and journal entries.

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7
Q

Edit - Preferences

A

Menu choice used to make account numbers active.

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8
Q

Customizing the Chart of Accounts List

A

Adding and editing account numbers and names.

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9
Q

Uncategorized Expenses

A

Accounts created by QuickBooks as an offsetting amount of Accounts Payable.

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10
Q

Inventory Asset and Cost of Goods Sold

A

System default accounts QuickBooks looks for when an inventory part items is set up.

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