Simply Accounting 2010
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| Daily Business Manager (DBM) | Centralizes some of the most common daily tasks in a single location.
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| Learning Center | Access to tutorials, questions and answers online.
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| Connection Manager | Used to connect to your company data.
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| Payables | Unpaid purchases
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| Company file check & replace tool | removes corrupted and/or orphaned files
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| Chart of Accounts | A listing of all the general ledger accounts that are used to maintain the financial records for a business.
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| Group Headings | Used to subdivide sections and designated with an "H"
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| Subgroup account | accounts whose balances will be subtotaled and must be followed by a subgroup total. Designated with an "A"
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| Group Account | For any that isnt included in a subgroup total. Designated with a "G"
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| Group Total | Contains the total of all the group accounts and subgroup total acounts above it in the group, up to the preceding group heading. Designated with a "T"
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| Section Headings | Are assigned automatically and cant be edited
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| Section Total | contains the total of all the group totals for a specific section
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| Current Earnings | Shows the difference between revenue and expense account totals and is calculated automatically
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| Linked accounts | Used to update all related accounts automatically when you post an entry.
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| Realized exchange gain/loss | Used to conduct business in different currencies
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| Historical information | Transactions that were generated before you created your company using simply.
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| Vendor reports | allow you to review your purchases and make important decisions for your business
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| Vendor aged reports | used to show all amounts owing to each vendor selected
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| Aged Overdue payables | used to diplay the payments you owe as well as any that are overdue
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| Vendor purchases report | used to display the details of purchases, for all or selected number of vendors
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| sales order | entered when a sale has been made but not yet delivered
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| Sales Quotes | issued to advise a customer of the selling prices for goods and services
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| Sales Invoice | Issued when the goods are shipped or supplied to the customer
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| Customer Reports | allows you to review your sales and make important decisions for your business
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| Account Reconcilliation | the process of identifying differences and matching account entries with entries on statements
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| Batch Processing | Ability to post more than 1 transaction at the same time
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| Batch Printing | Ability to print more that 1 transaction at the same time
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| Payroll Athorities | the taxm insurance and other deductions are paid to
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| Payroll check run | A feature of simply that allows you to process payroll for your employees at once.
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| Remittance Report | Provides you with information for the selected payroll authorities
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| Year end review | report used to identify employess with insufficient or excess insurance deducted
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| Tac Codes | used to represent either idividual texes or sets of multiple taxes
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| Check data Integrity | Allows you to check if your data is corrupted in any way. It compares the balance in each account with the total of all transaction entries with the corresponding module
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| Average cost method | A method of valuing the cost of inventory based on the average cost of the goods available for sale during a period
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| First in, first out | Method of valuing the cost of goods sold that applies the cost of the oldest items in inventory first.
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| Variance (expense) account | If you want to keep track of difference in cost of goods sold caused by negitive inventory.
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| Item assembly cost | Would be used when a business take a number of parts and make them into a product for sale
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| Bill of material | Helps you to automate the process of assembling items
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| Projects Module | Allows you to allocate revenues, and expenses to different jobs, locations, customers or contracts in your company
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| What are 2 different types of advice? | Management reports and general advice
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| Where do you enter information about your company when creating a new company? | New company setup wizard
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| What is the accounting term for Process? | posting
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| Which window do you add credit cards used and accepted by your company? | Settings window
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| Can you adjust a posted journal entry? | Yes. In the general journal window
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| Do all vendors or suppliers have to be added to the payables ledger? | No. You can have 1 time vendors, and they can also be added on the fly.
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| Where do you enter information regarding the city,province and country where all or most of your vendors reside so simply can automatically enter the data? | In the payables-address section of the settings window
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| What is a purchase order? | A commitment by a purchaser to buy goods at a agreed upon price, terms, and date
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| Where do you enter information about a purchase when there is no previous order? | Directly into the purchase journal-creating an invoice window
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| What is a recurring entry? | An entry that may repeat multiple times during the year
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| Do recorded purchase quotes affect the subledgers? | No. They are recorded but they arnt posted
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| What are vendor reports used for? | will allow you to keep track of the volume of business that you do with a vendor and ensure that any discounts are taken advantage of
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| what do aged overdue payable reports display? | the payment you owe as wel are any that are overdue
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| Why is it a good idea to add customers to the receivable ledgers? | Allows you to keep track of sales made and what they owe, by creating reports and reminding yourself to expect payment
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| Where are invoices entered that were outstanding prior to using simply? | On the historical tab of the receivables ledger window
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| What type of records can be merged? | Customer and vendor records
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| Where do you enter information about a sale when there is no previous order? | Directly into the sales journal-creating an invoice window
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| What does the receipts journal window resemble? | A receipt with the details of the receipt outlined underneath
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| How do you enter a deposit in the receipts journal? | In the receipts journal window, select enter customer deposits on the toolbar.
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| Which Module is used to enter deposit slips? | The Banking Module
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| Can you add payments to a deposit slip in stages? | Yes, allows you to save your work so you can finish making entries at a later date
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| Why is it useful to record a customer quote? | To keep track of customer inquires so that the company can follow up with the customer
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| Where will you find the sales receipts by payment method report? | Can be found in the forecast & analysis section of the report center window.
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| For which accounts can you enter budget amounts? | Revenue and expense accounts
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| What does the budget report show? | the budget amounts you have entered for your revenue and expense accounts
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| What is the update budget window used for? | Change your budget amounts by entering a positive or negative percent
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| What is account reconciliation? | the process of identifying differences and matching account entries on statement
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| When does an account reconciliation discrepancy occur? | When the statment end balance does not equal the statement opening balance plu the transactions and any adjustments required
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| Where do you set up acounts to use online banking? | Open the general ledger window for the account you wish to set up to use online banking. On the class options tab check use this account for online banking
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| In the business calendar, what is the date outlined in red? | the transaction date, by deafut the session date
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| what are taxable benefits? | Non-cash benifits that employees receive from the employer.Adds to the gross wages
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| How is a payroll authority set up in simply? | As a vendor
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| Where is the employee information entered? | Payroll ledger
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| In which window are job categories assigned? | Assign job categories window
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| What needs to be finished before the payroll run feature can be used? | Historical information
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| When does simply accounting allow you to automatically adjust paychecks? | Before the next paycheck is issued
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| What does the eductions & expenses report show you? | Detailed or summary information of selected payroll deductions and expenses
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| Where is tax information defined for vendors? | entered on the tax tab of the payables ledger
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| How do you determin if the tax report needs to be adjusted? | Compare your printed summary and detailed tax report to the corresponding tex account on your balance sheet or trial balance
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| Why should tax reports be cleared? | This way only current information will be included in the next report you create
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| When are payroll tax tables usually released? | Twice a year, in june and december
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| Name the built in check lists? | calendar year-end, day-end, fiscal year-end, month-end
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| In order to track goods and services that you buy and sell, your inventory items, or goods, must be associated with which accounts? | A revenue, asset and cost of goods sold accounts
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| what is the difference between Average Cost and First in First out? | Average cost is a method of valuing the cost of inventory based on the average cost of the goods available for sale during a period. FIFO is a method of valuing the cost of goods sold that applies to the cost of the oldest items in inventory first.
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| When is the Variance (expense) account used? | If you want to keep track of the difference in cost of goods sold cause by negative inventory
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| What are 3 types of price lists that simply sets up for you automatically? | Regual,preferred and web pricing
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| What window would you use to account for stolen inventory? | Inventory adjustment & transfers window
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| What report would you access to compare your inventory quantity with the minimum amount that u want to keep on hand? | Inventory quantity report
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| what report would you access to view the profit margins on all of your inventory items? | Inventory summary report
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| Where do you change the name of your project when it is different from the name used in simply? | In the project-Names section of the settings window
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| What types of allocation methods can you use for payroll transactions? | By dollar amount, percent or hour
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| What type of accounts can you enter budget amounts for projects? | revenue and expenses
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| where would you allocate all or a portion of your employees paychecks to one or more projects? | Allocations are made from the payroll run journal window or the payroll journal window
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| What is the adavatage of setting up different departments in your company? | Allows you to track sales, costs and also enables you to compare the performace of each department, determine exactly which part of your company is the most profitable or which needs more attention
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| How do you add a department to a vendor recor? | On the address tab of the payables ledger window
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| What does the project income report show? | Displays the revenue and expense that have been allocated to your companys projects
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| What does the project allocation report show? | displays the amounts in selected accounts that have been allocated to the projects specified
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| What needs to be done before you can begin to creat time slips and bill customers? | In the inventory & service window, select the service to which you want to track service activity, or click the create icon to add a new service. Check the activity (time and Billing) box on the right side of the window
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| How do you track time spent on services that are not billed to customers but are performed for another department within your company? | Check the internal service activity box at the bottom of the inventory&services window
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| How are amounts from time slips allocated to projects? | In the time slips window, select the item that you want to allocate and click allocate revenues and expenses to a job site, which is the check mark on the right side of the tool bar
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| How would you change time slip information before the invoice has been posted? | In the time slip journal window, select adjust time slip from the tool bar. Select the time skip that needs to be adjusted, make your changes and record the adjustment
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| What do written up/down amounts refer to? | the billable amount that you enter increased or decrease on the invoice
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| What are the advantages of using shortcuts? | They help you organize your work and put the tasks you need in easy reach.
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| When is the feature restore window used? | to restore a transaction window to its default settings
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| Where do you turn on the settings to track details of purchases and sales, or how often you want to back up? | Company system settings
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| which window would you modify the font settings for a report? | Modify report window for the report
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| Where can you access a list of built-in microsoft work and excel documents? | Reports menu- click offie documents
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