Question

In: Finance

1. How is the MEMO text box in bills, invoices, checks, etc. useful for report filtering and transaction research?

 

1. How is the MEMO text box in bills, invoices, checks, etc. useful for report filtering and transaction research?
2. What are Classes in QuickBooks and how would you use them?

Solutions

Expert Solution

(1) MEMO text box in bills, invoices etc useful for report filtering and transaction research as this filed is convenient features in quickbooks transactions but it is only beneficial when you can make the filed visible on your reports.By default the report displays a memo column that will list any information on the memo filed related bills thereby help in filtering and research.

(2There are n number of classes that we can create in quickbooks as per our requirement.The list become lenghty with time.For example we have manufacturing unit so classes that we will create will be sales class, purchase class, inventory class etc. as per our requirements.

Now once the classes are created then we will put them to use open a blank invoice and select a customer . The class field will be next to the customer name. If the entire invoice will be assigned to the same class click the drop down list and select it you can also assign seperate classes to individual line items.


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