QuickBooks Online uses smart learning in its reconciliation tool to help find any rogue transactions. How does it do this? O It can identify transactions that were posted to the wrong account O It can identify transactions where the posting date was manually entered and has a clearing date that differs from the bank data O It will recognize if transactions have been excluded erroneously from bank feeds O It will automatically record bank fees and interest earned

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QuickBooks Online uses smart learning in its reconciliation tool to help find any rogue transactions.
How does it do this?
O It can identify transactions that were posted to the wrong account
O It can identify transactions where the posting date was manually entered and has a clearing date that differs from the bank data
O It will recognize if transactions have been excluded erroneously from bank feeds
O It will automatically record bank fees and interest earned
Transcribed Image Text:QuickBooks Online uses smart learning in its reconciliation tool to help find any rogue transactions. How does it do this? O It can identify transactions that were posted to the wrong account O It can identify transactions where the posting date was manually entered and has a clearing date that differs from the bank data O It will recognize if transactions have been excluded erroneously from bank feeds O It will automatically record bank fees and interest earned
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