QuickBooks Live Simulations

Your client Green Valley Accounting has completed bookkeeping ($400) and payroll processing ($250) for Sunrise Cafe. Terms: Net 30. Tax: 15% GST/VAT. Create and save the invoice, then note the journal entry QBO posts automatically.

Your bank feed has 6 new transactions to review. For each one, choose the correct QBO action. The key rules: use Match when a QBO record already exists; Transfer for movements between your own accounts; Ask my accountant for anything unclear. Then click Check answers.

You have 4 outstanding bills. A vendor credit of $85 is available for Cloud Storage Pty — this reduces that payment from $280 to $195. Bank balance: $8,420.00. Select bills to pay, apply the credit correctly, then process.

Your client billed $18,500 in May. The P&L shows income of $18,100. Expenses are $14,439 vs last month's $10,839. The director has two questions — read the report then select the correct explanations below.

Physical stocktake: Product A — QBO shows 45, actual count is 38 (avg cost $22). Product B — QBO shows 120, actual 120 (no variance). Product C — QBO shows 18, actual 24 (explained by an unrecorded purchase receipt — enter the receipt first). Select the right adjustment account and enter correct quantities.