Payables and Expenses Workflow Flashcards
7 cards from real QBO practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Payables and Expenses Workflow flashcards as text
In QBO, if you use the 'Expense' form instead of a 'Bill' to record a vendor purchase, what is the main accounting difference?
Answer: Expense reduces the bank/credit card balance immediately; Bill creates an Accounts Payable liability
An Expense immediately credits the payment account (bank/CC), while a Bill credits Accounts Payable creating a liability until a payment is made.
A client wants to pay multiple vendors at once via online bill pay in QBO. Which feature supports this workflow?
Answer: QBO Bill Pay powered by Melio
QBO Bill Pay (powered by Melio) allows users to pay multiple vendors via ACH or check from within QBO in a single workflow.
When a vendor bill is partially paid in QBO, what does the bill's status change to?
Answer: Partial
QBO marks a bill as 'Partial' when a payment has been applied but the full balance has not yet been paid.
A company wants to require manager approval before any vendor bill over $1,000 is paid. QBO's native workflow supports this through:
Answer: QBO Advanced's Workflow Automation feature
QBO Advanced includes Workflow Automation that can route transactions above specified thresholds for approval before payment.
What does 'item-based' expense entry on a bill in QBO allow that account-based entry does not?
Answer: Tracking inventory received and updating stock quantities
Item-based bill lines update inventory quantities in QBO, while account-based lines only affect the general ledger expense account.
A vendor credit in QBO was created but never applied to a bill. Where will it appear on the Balance Sheet?
Answer: As a debit balance in Accounts Payable (reducing the liability)
An unapplied vendor credit reduces the Accounts Payable balance on the Balance Sheet, shown as a debit within the AP account.
In QBO, which of the following is true about deleting versus voiding a bill payment check?
Answer: Voiding keeps the transaction in audit logs with a $0 amount; deleting removes it entirely
Voiding a check in QBO zeroes the amount and marks it void in the audit trail; deleting removes the transaction record entirely with no trace.