Lesson 4 Test | Invoicing, Receiving Payments, and Making Deposits

When creating an invoice or sale for inventory that is out of stock, Total Office Manager® provides the preference which allows the user to:

When creating an Invoice for a Customer, Work Orders and Timesheet Hours can be billed together, commissions must be billed on a separate Invoice.

If a Customer has been issued more than one Credit over a period of time and wishes to apply one or more to the next Invoice that is issued then,

In the Expenses Tab of a Refund Check being issued to a Customer, which fields ensure proper double entry accounting is applied?

When should you create an invoice?

The “Smart Account Selection” preference was designed to:

The following types of checks can be found in the Check List:

If you are entering in an Invoice dated in Total Office Manager for last week, but are prompted that the Invoice cannot be saved, one reason might be:

The ______________ Account allows you to accumulate the payments received from the Customers to be deposited at a later date.

The initial Bank Reconciliation form requires the following fields be entered before the continuing to the next step:

Total Office Manager provides the functionality to create _______ _______ that are sent to your bank to process ETFs.

Payments collected from Customer invoices can be processed through Direct Deposit.

In order to ensure compliance with the latest NACHA rules pertaining to the ACH files being sent to the clearing house, which setting must be enabled:

When setting up Direct Deposit the company’s owner SSN and the company’s EIN are needed before the Total Office Manager will enable the feature.

The Direct Deposits Transactions List is the list of transactions that need to be processed by the bank. This list needs to be converted to ACH files before being sent to your bank.

When applying _____________ to an Estimate, _____________________ is not created until that Estimate is used to generate an Invoice.

On a sales form, the correct Tax Item _____ the correct Tax Code will need to be selected for each Invoice Item in order for Sales Tax to properly calculate.

Use Tax, or tax that is applied to Invoice Items and charged to your Company, has three basic calculations based on; Retail Price, Direct Cost, Gross Profit.

If “Unknown Vendor” appears on your Sales Tax Liability Report then

Which Sales Tax report allows you to drill down to view specific transactions used to generate the report?