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 wants to apply an existing customer credit to a new invoice. What is the correct way to do this?
Answer: Open Receive Payment, select the invoice, and check the available credit to apply it
In the Receive Payment screen, QBO displays outstanding credits for the customer which can be checked to offset the selected invoice.
What is the difference between a Delayed Charge and an Invoice in QBO?
Answer: A Delayed Charge is a non-posting placeholder that can be added to a future invoice; an Invoice is posted and affects A/R
A Delayed Charge does not post to the general ledger or create an A/R balance; it serves as a reminder to bill the customer and can be pulled onto a future invoice.
In QBO, when you email an invoice directly from the Invoice form, what happens automatically?
Answer: The invoice status changes to 'Sent' and the email is logged in the activity
When you email an invoice from QBO, the status updates to Sent and QBO logs the email activity in the invoice's transaction history.
A business wants every new invoice to default to a 'Due on Receipt' payment term. Where is this configured in QBO?
Answer: Account and Settings > Sales > Invoice and delivery preferences
The default payment term for all new invoices is set under Account and Settings > Sales > Invoice and delivery preferences.
Which of the following best describes the 'Open Item' statement type in QBO?
Answer: Lists each unpaid invoice and credit individually without a prior balance forward
An Open Item statement lists every individual outstanding invoice and credit so the customer can see exactly which transactions make up their balance.
In QBO, which setting must be enabled to allow customers to pay invoices online via ACH or credit card directly from the invoice email?
Answer: QuickBooks Payments (merchant account) linked to the QBO company
Online invoice payments require an active QuickBooks Payments merchant account connected to the QBO company, which adds a Pay Now button to emailed invoices.
A QBO client uses the Products and Services list. When would you use a 'Non-inventory' item type instead of an 'Inventory' item type on an invoice?
Answer: When the item is sold but QBO should not track quantity on hand for it
Non-inventory items are used for products you sell but do not need to track stock levels for, such as drop-shipped goods or one-off supplies.