Asked by Tyler Knight on Jul 01, 2024
Verified
Discuss the two main ways of entering information into QuickBooks. Why are two different ways necessary for entering information. What are the advantages and disadvantages of each method.
Entering Information
The process of inputting data into a system or document.
QuickBooks
Accounting software developed by Intuit, widely used by small and medium-sized businesses for finance management.
- Acquire the skill to input transaction data through onscreen forms in QuickBooks.
- Grasp how QuickBooks facilitates the transaction recording process through its user interface.
Verified Answer
ZK
Zybrea KnightJul 03, 2024
Final Answer :
The two main ways of entering information into QuickBooks are:
1. Onscreen forms
2. Onscreen journal
Transactions can be entered using onscreen forms without knowing debits and credits,so this makes it easier for QuickBooks to be used by clients who do not have an accounting background. Some items,however,such as adjusting entries,are easier to enter using the onscreen journal. In addition,even when transactions are entered using onscreen forms,behind the screen,QuickBooks converts the information into a debit and credit journal entry that can be viewed in journal form.
1. Onscreen forms
2. Onscreen journal
Transactions can be entered using onscreen forms without knowing debits and credits,so this makes it easier for QuickBooks to be used by clients who do not have an accounting background. Some items,however,such as adjusting entries,are easier to enter using the onscreen journal. In addition,even when transactions are entered using onscreen forms,behind the screen,QuickBooks converts the information into a debit and credit journal entry that can be viewed in journal form.
Learning Objectives
- Acquire the skill to input transaction data through onscreen forms in QuickBooks.
- Grasp how QuickBooks facilitates the transaction recording process through its user interface.