Sales and Receivables 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 Sales and Receivables Workflow flashcards as text
A QBO user converts an Estimate to an Invoice but the customer only wants to be billed for work completed so far. Which feature supports this?
Answer: Progress Invoicing
Progress Invoicing lets you bill a percentage or specific line items from an Estimate across multiple invoices as work is completed.
Where in QBO Settings must you enable the ability to add a Discount field to invoices and sales receipts?
Answer: Account and Settings > Sales > Sales form content
The Discount field on sales forms is enabled under Account and Settings > Sales > Sales form content by toggling on the Discount option.
A customer's invoice is paid via ACH bank transfer. In QBO, which Payment Method should be selected when recording the Receive Payment?
Answer: ACH or e-check
ACH or e-check is the appropriate payment method for direct bank transfers, keeping the deposit records accurate and audit-ready.
In QBO, what does the 'Balance Forward' statement type show customers?
Answer: Only the outstanding balance owed without transaction detail
Balance Forward statements show only the total amount owed without itemizing individual transactions, unlike the Open Item statement.
Which QBO tool lets you see all sales activity for a single customer on one screen, including invoices, payments, and credits?
Answer: Customer page (customer ledger)
Opening a customer's record in QBO displays their full transaction history — invoices, payments, credits, and the running balance — all on one page.
A QBO company uses classes to track sales by department. Where do you assign a class when creating an invoice?
Answer: On each line item or in the header of the invoice form
When class tracking is enabled, a Class column appears on each line item of the invoice (or in the header if set to one class per transaction).
What is the correct sequence to record a sale when a customer pays at the time of service in QBO?
Answer: Sales Receipt (single step)
A Sales Receipt combines the sale and payment into one transaction, making it the correct single-step form when payment is collected immediately.