In the Customer and Vendors Centers, you were introduced to several features that QuickBooks uses in...

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Accounting

In the Customer and Vendors Centers, you were introduced toseveral features that QuickBooks uses in place of ledgers. Featuresand give examples on how a company might use them. Specifically, Iam referring to the following features: Enter Bills, Pay Bills,Create Sales Receipt, Create Invoices, Jobs, Make Deposits,Undeposited Funds, and Receive Payment. What accounting is going onin the background of these features?

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Vendor center 1 This is the Accounts payable sub ledger New vendors are created in this module We can see the list of all vendors created the main page also provides us the balance owed to each vendor The software also allows us to sort on various factors like name balance owed We can also include inactive vendors in this list Clicking on any vendor name shows the transactions that have taken place This also can be filtered and sorted to view the necessary data easily 2 Enter bills This section is used to record purchase of goods or services made by the organization In this screen we see the fileds relevant to the purchasing department We record the bill under a specific vendor name enter date invoice number due date and amount due See Answer

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