.QBW---a working company file .QBM---a compressed company file(not a backup file)Toggle to QuickBooks ProIf you are using the trial version of the software provided with this course, your version of QuickBooks is likely showing the Accountant edition. You must toggle to Pro now and every time you start QuickBooks.Choose FileToggle to Another Edition.Click in the circle to the left of QuickBooks Pro and then click Next.Click Toggle.Restore a Portable Company FileChoose File and then choose the Open or Restore Company command.In the future, a menu bar command like this will be written as Choose FileOpen or Restore Company.Choose Restore a Portable File and then click Next.Navigate to your file storage location, click the DYS_Chapter01 (Portable) file, and then click Open.Click Next and then save the file to your storage location as: DYS_Chapter01 Average Guy DesignsIt may take a few moments for the portable company file to open. If asked to update the file, choose Update Now.Intuit provides maintenance releases throughout the lifetime of the product. These updates may require you to update your student exercise files before you begin working with them.Type Password1 and click OK.Click OK to close the QuickBooks Desktop Information window and then close the Accountant Center window and New Feature tour windows, if necessary.For the rest of the Develop Your Skills exercises in this book, you can restore a portable company file or open a company file. This exercise showed you how to restore a portable company file. Use this process, as applicable, moving forward. Leave the company file open for the next exercise.You can find the steps on how to open a DYS portable file in first DYS exercise in each chapter, although the steps will be the same for each chapter. Remember, when opening a new portable file for the first time, you must restore it and then save it under a new name.TrueData entry is the same in QuickBooks whether you use accrual or cash basis accountingTrueAlways back up your company file to a location NOT on the same hard drive as the original fileFalseThe cash basis accounting means the sale transaction is recorded when the sale is made, and expenses are recorded when they are incurredFalseQuickBooks for Mac has the same basic look as the Windows version, but the functions are differentFalseLeann works for a nonprofit organization. At a past job she used QuickBooks CANNOT be used for nonprofitsFalseRahim is having trouble managing his small business's finances. His friend is encouraging him to purchase QuickBooks because, ""You don't have to know anything about accounting. QuickBooks does all the work and prevents you from having any problems."" Is what Rahim's friend is saying true or false?TrueThe QuickBooks working file has the .QBW extension and is the company file.FalseThe working QuickBooks company file, with the .QBW extension, is a compressed fileTrueIn QuickBooks, portable files must be restored before useTrueThe active window will always appear at the top of the Open Window ListTrueSubitems do NOT affect the accounting behind the scenesFalseTo edit an existing transaction in QuickBooks, you void it and the re-create itFalseLists in QuickBooks are used for storing your list of accountsFalseYou CANNOT add information to a customer entry; you must enter the information into a jobFalseYou CANNOT edit a customer record after it has been createdTrueYou CANNOT merge more than two customer names at one timeTrueNon-inventory items are tracked in the Cost of Goods accountTrueUse a sales graph to display your sales by item, customer, or rep.List EntriesWhat type of information can the Search feature help you find?ItemBefore you can add something to an invoice, it must be created as a(n):第二章FalseYou must print the check at the time you enter the transaction information into the Write Checks windowTrueThe Vendor List can be exported to contact management software, such as Microsoft OutlookTrueYou CANNOT delete a vendor once you have used that vendor in a transactionFalseIn the Enter Bills window, be sure to include internal notes in the first memo field and any information you want printed on the check in the second memoFalseWhen you make an item billable to a specific customer, the next time you invoice that customer, you must remember to manually enter the outstanding billable time and costs to the invoice becuase QuickBooks will NOT remind youTrueWhen selecting a payment date in the Pay Bills window, set the date the payment should be reflected in your bank and Accounts PayableFalseIn the accrual basis of accounting, you do NOT have to use the Enter Bills and Pay Bills features in QuickBooksTrueQuickBooks will hold checks to be printed in a queue until you are ready to print a batch of themTrueTo be sure check items print in the proper location, align the checks to your printerTrueMitch is trying to pay a bill for the first time in QuickBooks, but the bank account from which he will draw the funds is NOT listed. Mitch needs to add the bank account to his Chart of Accounts第三章此学习集的词语(24)FalseChanging a transaction that has been cleared through reconciliation should NOT cause any problemsFalseUsing a debit card deducts funds from a checking account, which is an asset. This means the debit card normal balance is a credit.TrueBank Feeds automatically download your transaction history and account balanceTrueEach balance sheet account has it's own registerFalseIt is NOT necessary to indicate the main type of account when creating a new accountFalseDeposits are the first step in the cycle if a saleTrueIn QuickBooks, there is no limit to the number of credit cards you can useFalseAll financial institutions offer bank feed services that integrate with QuickBooksTrueIf you use a personal credit card ocassionaly for business purposes, you should NOT enter it into QuickBooks as business credit cardDiscrepancies between QuickBooks and a bank statementWhat does a reconciliation report show?第四章此学习集的词语(24)TrueYou should create a separate QuickBooks company file for each tax return you fileFalseIn QuickBooks, the start date is the date your company began doing businessFalseNever use the Advanced Setup option when creating a company file; that option is fot accounting professionals onlyTrueWhen creating a new company file based on an older one, QuickBooks allows you to keep the existing lists and preferences but removes the transactionsTrueCompany preferences affect the way the company uses QuickBooks to do businessFalseIndividual company preferences can be set by each userTrueIn QuickBooks, all transactions are tied to an accountTrueTransactions made prior to turning on the Class preference will NOT have a class assignedTrueThe ""Have a Question?"" window changes depending on the active windowFalseThere is no limit to the number of users who can access a company file at a single time第五章

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