Reference no: EM132699008

Problem 1: Which features in QuickBooks are used to record receipts and payments?

• 'Enter Bills' features and 'Pay Bills' features are used to record receipts and payments. Payments can be made by recording payments in the "Pay Bills" windows. Once businesses received a bill from a Vendor, they can record it and pay it when it is due by selecting Bill, Select a vendor, Select Bill Term, Fill in the Bill Date, Due Date, Bill NO, Then select Save & Close. To pay the bill, businesses can Select Pay Bills, Select a payment account, payment date, Select the checkmarks for each bill that is being paid, Credit Apply, Save and Print, Save & Close.

Problem 2: How are cash purchases recorded?

• A cash purchase can be recorded by writing a check or by using petty cash. Invoices and bills are involved for cash purchases.

Problem 3: Why is the QuickZoom feature important?

• QuickZoom feature helps determine what accounts were used for transactions. It helps by giving more detail information regarding the accounts used in the split column of the report.