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DAQ Module 10 Resource

Module 10 of QuickBooks covers various features including managing customer payments through the Undeposited Funds account, adjusting inventory quantities, and utilizing the audit log for data integrity. It also emphasizes the importance of budgeting in financial management. Key topics include pay down credit card processes, inventory adjustments, and data backup procedures.

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5 views10 pages

DAQ Module 10 Resource

Module 10 of QuickBooks covers various features including managing customer payments through the Undeposited Funds account, adjusting inventory quantities, and utilizing the audit log for data integrity. It also emphasizes the importance of budgeting in financial management. Key topics include pay down credit card processes, inventory adjustments, and data backup procedures.

Uploaded by

fiadhasan206.2
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Other QuickBooks Features

Module 10

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Module Learning Outcomes MODULE OVERVIEW
✓ Learn the purpose and usage of the
Undeposited Funds account in managing
customer payments
MODULE 10
✓ Explore how to add and manage different
payment methods in QuickBooks for
OTHER QUICKBOOKS FEATURES
accurate transaction recording
✓ Gain proficiency in making adjustments to Unit Unit
inventory quantities, ensuring accurate
inventory tracking 10.1 Fund transfer, undeposited fund & add payment methods
✓ Understand the importance of the audit 10.2 Pay down credit & inventory quantity adjustment
log-in tracking changes made to your
QuickBooks data 10.3 Audit log & data backup
✓ Learn how to utilize and review the audit 10.4 Budgeting
log to maintain data integrity
✓ Comprehend the concept of using
projects in QuickBooks for better project
management
✓ Gain insight into the significance of
budgeting in financial management

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10.2

Pay Down Credit & Inventory


Quantity Adjustment

86
Pay Down Credit

Definition

Pay down a credit card. This is the main way to record your credit card payments in QuickBooks.
Select + New. Under Money Out (if you're in Business view), or Other (if you're in Accountant view),
select Pay down a credit card. Select the credit card you made the payment.

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Inventory Quantity Adjustment

Definition

An inventory quantity adjustment is essentially exactly what it sounds like adjusting the actual
quantity of inventory items to match any changes that have occurred. Sometimes you might
discover that you have either more or fewer of an item than QuickBooks shows. If you track
inventory in QuickBooks Online Plus and Advanced, you can manually adjust an item's quantity
without recording a purchase or sale, to match what you have in stock.

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10.3

Audit Log & Data Backup

89
Audit Log

Definition

An audit log in QuickBooks is a record of all changes made to a company's financial information. It
includes details such as the user who made the change, the date and time of the change, and the
type of change (e.g. adding a new customer, changing an invoice)

90
Data Backup

Definition

Data backup means creating a copy of the data on your system that you use for recovery in case
your original data is lost or corrupted. You can also use backup to recover copies of older files if
you have deleted them from your system

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10.4

Budgeting

92
Budgeting

Definition

A budget is simply a spending plan that takes into account estimated current and future income
and expenses for a specified future period, usually a year. Having a budget keeps your spending
in check and makes sure that your savings are on track for the future.

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