Exercise 2-1: Complete Exercise 2-1: 1. If necessary, start QBO. 2. Add New accounts to...
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Accounting
Exercise 2-1: Complete Exercise 2-1: 1. If necessary, start QBO. 2. Add New accounts to the Chart of Accounts. New Account Income Save account under* Expenses Income Expenses Account Name* Uncategorized Asset Undeposited Funds [edit Payments to deposit] Tax form section* Service/Fee Income Shipping, Freight & Delivery Professional Fees Shipping and Delivery Expense Edit default accounts. Type account numbers, or change account name. If these default accounts are not listed, add . Due to QBO+ updates, the Account name "Payments to deposit" should be changed to Undeposited Funds. Save account under* Other Current Assets Other Current Assets Expenses Conventions [edit Travel] Uncategorized Expense Exercise 2-2: Follow the instructions below to complete Exercise 2-2: Expenses. Account Name* Travel Tax form section* Other Current Assets Undeposited Funds Account Number Other Miscellaneous Service Cost 403 627 Number 130 133 604 701 Page 95 1. Save the Chart of Accounts as a PDF file. Use the file name Exercise 2-2 Chart of Accounts. 2. Export the Chart of Accounts to Excel. Use the file name Exercise 2-2_Chart of Accounts.xlsx. (Hint: Your chart of accounts may show some default accounts without account numbers.)
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