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In: Accounting

Which 3 statements are true about purchase orders in QuickBooks Online?(Select all that apply) You can...

Which 3 statements are true about purchase orders in QuickBooks Online?(Select all that apply)

  • You can only create purchase orders for inventory
  • You can close individual lines on a purchase order
  • You can add purchase orders to any type of purchase transaction
  • QuickBooks Online closes purchase orders, even when not fully received
  • You can add multiple purchase orders to one purchase transaction

Solutions

Expert Solution

Options Answers Explanation
You can only create purchase orders for inventory FALSE No, although while creating the PO, same is entitled as Inventory and Company Preference Tab
You can close individual lines on a purchase order TRUE Yes,
You can add purchase orders to any type of purchase transaction TRUE Yes, Depends upon the Line item of services
QuickBooks Online closes purchase orders, even when not fully received FASLE No, They knock off each line item wise against the delivery and recipt of payment, However one can close them manually
You can add multiple purchase orders to one purchase transaction TRUE Yes, For every line item of service

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