Question

If you record a check written to a new vendor, What must you do first?

1) Add a new vendor in the Vendors center
2) Record the check
3) Deposit the check in the bank
4) Contact the vendor for verification

Answer 1

To record a check written to a new vendor, you should first add the vendor in the Vendors center and then record the check by entering its details. Depositing the check in the bank and contacting the vendor for verification are separate steps that follow the recording process.

Step-by-step explanation:

To record a check written to a new vendor, the first step is to add the new vendor in the Vendors center. This ensures that the vendor's information is properly recorded in your accounting system. After adding the vendor, you can then record the check, which involves entering the necessary details such as the check number, date, amount, and vendor's information. Depositing the check in the bank is a separate step that follows the recording of the check, and it involves physically depositing the check into your bank account. Contacting the vendor for verification is not necessary when recording a check; however, it may be a good practice to ensure accuracy and prevent any potential issues.