Question

5.when entering inventory transactions, which three quickbooks online lists will be used? vendor list, customers list, and products and services list. purchase order list, banking list, and invoices list. vendor list, customers list, and sales list. customer list, credit list, and products and services list.

Answer 1

In QuickBooks Online, inventory transactions typically involve the Vendor List, Product and Services List, and Customer List to accurately record purchases, manage inventory, and track sales respectively.

Step-by-step explanation:

When entering inventory transactions in QuickBooks Online, three specific lists are commonly used to record and organize the data accurately. These lists are:

• Vendor List: This list includes all the entities from whom the company purchases goods or services. It's essential for recording purchase transactions, tracking payables, and managing vendor information.
• Product and Services List: This list holds information about the items that a company buys, sells, or resells in the course of business, such as inventory parts, non-inventory parts, services, and bundles.
• Customer List: Although not directly used in the entry of purchase transactions, the customer list is crucial in QuickBooks for tracking sales transactions, customer relationships, and generating detailed reports on sales trends.

Out of the given options, the correct one is: vendor list, customers list, and products and services list.