What is the difference between a bank feed transaction and a manually entered transaction in QuickBooks Online? Select an answer: A bank feed transaction is a fixed asset, while a manually entered transaction is a current asset. A bank feed transaction is imported automatically from your bank or credit card company, while a manually entered transaction is entered manually by the user. A bank feed transaction is a liability, while a manually entered transaction is an asset. A bank feed transaction is an expense, while a manually entered transaction is income.

What is the difference between a bank feed transaction and a manually entered transaction in QuickBooks Online? Select an answer: A bank feed transaction is a fixed asset, while a manually entered transaction is a current asset. A bank feed transaction is imported automatically from your bank or credit card company, while a manually entered transaction is entered manually by the user. A bank feed transaction is a liability, while a manually entered transaction is an asset. A bank feed transaction is an expense, while a manually entered transaction is income.

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter5: Managing Checking And Savings Accounts

Section5.2: Open Checking And Money Market

Problem 1CC

See similar textbooks

Similar questions

Why does a bank credit a customer's account when the customer makes a deposit and debit the account when the customer makes a withdrawal? O Because banks use a different method of accounting O Because the customer's account is a liability for the bank. Because the customer's account is an asset to the bank
After you have completed a bank reconciliation, there can be numerous un‐ reconciled bank statement debits. In your own words, explain the difference between a debit order and a stop order.
How can you avoid overdrafts and overdraft fees? What are the types of accounts in a bank?
What is the difference between a credit card and a debit card? O A credit card is loaned money, plus interest, whereas a debit card is linked to your bank account that contains your money. A credit card is your money that is not loaned. O A debit card is loaned money. O None of the above.
Select the banking terms from drop down to match with the correct definition. Definitions Banking Terms a. A check that has been paid by the bank on behalf of the depositor. select a banking term Automated teller machine (ATM)Electronic funds transfer (EFT)MakerDepositorDebit memorandumPayeeBank statementPayerCredit memorandumDeposit slipCheckCanceled checkSignature cardEndorsement b. A disbursement system that uses wire, telephone, or computers to transfer cash balances from one location to another. select a banking term EndorsementBank statementDeposit slipDebit memorandumCheckDepositorElectronic funds transfer (EFT)PayeeSignature cardPayerCanceled checkCredit memorandumAutomated teller machine (ATM)Maker c. A document provided by the bank that requires the signature of all authorized signers of checks. select a banking term…
A friend owns a business that extends credit to its customers. The friend has asked you to helps with estimating uncollectible accounts and wants you to make a recommendation. Specifically, your friend is asking: Which of the two methods of estimating uncollectible provides for the most accurate estimate of the current net realizable value of the receivables?
When reviewing your client's Profit and Loss report, you see a number of transactions posted to the wrong account. However, the bank and credit card accounts have all been reconciled properly. Your client doesn't remember adding these transactions. What might have happened? Your client used the Reclassify Transactions tool Someone imported these transactions and their reconciliation status directly from Excel Your client added the transactions through Bank Feeds, using an item that posted to the wrong account Your client incorrectly added a transaction, accepted a suggested rule based on that posting, and also chose auto-add
From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability. c.contra asset. d.surplus. e.revenue.
NSF results in a bank crediting one’s account. True or false
One of the duties of a bank is to repay money on demand in accordance with the customer’s written instructions. True False
Deposits other than customer payments are entered using: a. Receive Payments b. Pay Bills c. Bank Deposit d. All of the above
What are the step(s) when using the Sales with Payment customer workflow? A. Create sales receipts deposited to the Undeposited Funds account > Create Bank Deposit B. Create Sales Receipt deposited to the checking account C. Create Bank Deposit D. Create Invoice > Receive Payment deposited to the Undeposited Funds account > Create Bank Deposit