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3 years ago

How does Quickbooks online use smart learning?

2 answers:

6 0

QuickBooks Online uses smart learning in its reconciliation tool to help find any rogue transactions.

How does it do this?

It can identify transactions that were posted to the wrong account
It can identify transactions where the posting date was manually entered and has a clearing date that differs from the bank data
It will recognize if transactions have been excluded erroneously from bank feeds (Maybe this)
It will automatically record bank fees and interest earned

kvasek [131]3 years ago

4 0

Answer:

Quick Books Online uses smart learning in its reconciliation tool to help find any rogue transactions by recognizing if transactions have been excluded erroneously from bank feeds. Because bank feeds includes all transactions of bank account. What 2 reasons might mean a transaction needs to be excluded in bank feeds?

Explanation:

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A Company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Sec

gogolik [260]

Answer: $65

Explanation: Under the FIFO method, that is, first in first out method inventory is recorded on the assumption that the goods that were purchased first will also be sold first and the remaining inventory will have the latest purchased units.

So, in the given question the two units sold would be costing $80 and $95

Hence,

Gross profit = $240 - ($80 + $95)

= $65

3 0

3 years ago

Which of the following career fields ensures that required supplies are available.

GalinKa [24]

2) Purchasing, good luck!

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3 years ago

Read 2 more answers

To create a balanced budget, one must balance needs against what

mamaluj [8]

To create a balanced budget, one must balance needs against wants.

In order to Create a balanced budget you should:

1. Keep track of your financial gain and expenses.
2. Stay on top of your monthly bills.
3. Be ready for surprising expenses.
4. Not overspend.
5. Figure out what quantity you wish to save lots of to satisfy your monetary goals.

8 0

4 years ago

Read 2 more answers

The balance sheet of ABC reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectively. The r

zimovet [89]

Answer:

ABC net income for the year is $42,500

Explanation:

Beginning total assets = $400,000

Ending total assets = $450,000

Average total assets = Beginning total assets + Ending total assets ÷ 2

= ($400,000 + $450,000) ÷ 2

= $425,000

Return on assets = 10%

Therefore,

Net income ÷ Average total assets = Return on assets

Net income = Return on assets × Average total assets

Net income = 0.1 × Average total assets

= $425,000 × 0.1

= $42,500

7 0

3 years ago

On January 1 of this year, Olive Corporation issued bonds. Interest is payable once a year on December 31. The bonds mature at t

ss7ja [257]

Answer and Explanation:

The amortization schedule is presented below:

Date Cash Interest expense Amortization Balance

A B C = (A - B)

January 1, Year 1 $58,998

End of Year 1 $3,944 $3,717 $227 $58,771

E = D - C

End of Year 2 $3,944 $3,702.573 $241 $58,530

End of Year 3 $3,944 $3,687.39 $257 $58,273

End of Year 4 $3,944 $3,671 $273 $58,000

Working notes:

For computing the missing amount first we have to find out the interest expense rate which is

= $3,717 ÷ $58,998

= 6.30%

For year 2,

The interest expense is

= $58,771 × 6.30%

= $3,702.573

For year 3,

The interest expense is

= $58,530 × 6.30%

= $3,687.39

4 0

4 years ago