- use your memory to complete as much as you can of the Chapter 2 Comprehension Check
- do NOT use your notes at first
- review your notes to learn the things you do not know.
- do NOT fill in the answers while you are reviewing
- you may also use the Chapter 2 Notes if you need to
- go back and try to answer the questions you did not know at first
- Do NOT use your notes
- review again to learn the stuff you do not know
- complete the online version of the Chapter 2 Comprehension Check
- Watch the following videos and take notes as you watch
- QuickBooks Online: Customizing the Chart of Accounts (8:23)
- Setting up the Chart of Accounts Part 1 (4:15)
- Setting up the Chart of Accounts Part 2 (3:09)
- How to Set Up Chart of Accounts in QuickBooks Online (6:35)
- these videos may use an older interface
- it won't necessarily look the same way as the current interface
- When ready, use this Quizlet to start studying for the Certification Exam
- Obviously, you won't know a lot of these questions since we just started. However, I think you will be surprised by how much you have already learned
Make sure you can answer these questions:
- What is a Chart of Accounts?
- What are accounts?
- What are sub-accounts?
- When and how is a Chart of Accounts created in QuickBooks?
- What should a business consider when customizing its Chart of Accounts?
- List three ways a business might choose to customize its Chart of Accounts:
- List the steps for two different ways to display the Chart of Accounts:
- Create a chart that shows the numbering system for the different account types:
- Describe the steps necessary to display account numbers in the Chart of Accounts:
- Describe the steps necessary to enter account numbers in the Chart of Accounts:
- What is the purpose of a Register in QuickBooks?
- Create a chart that shows the different tax forms by ownership type:
- Describe the relationship between the Chart of Accounts and a company’s tax form:
- List the steps necessary to add new accounts to the Chart of Accounts:
- List the steps necessary to edit an account in the Chart of Accounts:
- List the steps necessary to delete an account from the Chart of Accounts:
- When can’t you delete an account?
- What is the primary objective of accounting?
- What is the purpose of a financial statement?
- List examples of internal users of financial reports:
- List examples of external users of financial reports:
- List and describe the three main financial statements for a business:
- How do you know if an account is an asset?
- How do you know if an account is a liability?
- What is the purpose of an income account?
- What is the purpose of an expense account?
- What is the formula for calculating net income?
- What are permanent accounts?
- What are temporary accounts?
Review Chapter 1 for Friday's Test
Work on the Chapter 1 Comprehension Check- complete the online version of the Chapter 1 Comprehension Check
- Watch the following videos and take notes as you watch
- When ready, use this Quizlet to start studying for the certification exam
- What is QuickBooks?
- Who uses QuickBooks?
- How can you access QuickBooks online?
- List nine parts of the Navigation Bar:
- List the four QBO tools:
- List the items that can be created for a vendor:
- List the items that can be created for a customer:
- List the items that can be created for an employee:
- List the Other Items that can be created:
- List options available under the Gear Icon:
- List the settings that can be changed for Your Company:
- List the settings that can be changed for Lists:
- List the settings that can be changed for Tools:
- List the settings that can be changed for Profile:
- What is a Chart of Accounts?
- What is a Recurring Transaction?
