have you learned so much in the first half of this course that you might have trouble remembering all
the information well good news in this video we will stop and do a practice set for all the
receivable and payable transactions that we've learned so far if you have any questions about
this topic you can leave them in the comment section below and I'll do my best to help you
and of course if you feel the video helped you I hope you will click like and don't forget to
subscribe to get updates on new videos that come out all the time so exactly how should
you do this exercise said well first compare your reports and your quickbooks online account to the
reports shown here in this video if your numbers are all the same then enter the transactions from
the transaction list that I am about to show you if you forget how to enter a transaction pause
the exercise and then review the related video when you finish compare your three reports to the
reports shown here if you have any differences you must use what you learned to find and fix
any mistakes you might have made this is what the trial balance should look like in your QuickBooks
Online records right now before the exercise make sure each of the numbers here matches each of the
numbers in your trial balance before you start you must have the same starting numbers in order
to finish with the correct numbers after this exercise this is what the unpaid bills report
looks like remember it's not enough that the total balance of the vendor is correct you
have to make sure that each individual unpaid bill listed here matches each individual unpaid
bill in your QuickBooks Online records the same thing goes for the open invoice report make sure
that not only the total balance for the customer is correct but each invoice in its open amount
should match your open invoice report before you begin the exercise here is the first set of
transactions you can pause the video and record them one by one make sure that you remember how
to enter each transaction type and again if you forget how to enter a particular type of
transaction I suggest you pause the video and go and review the video that shows how to record that
specific type of transaction here's the rest of the transactions go through them thoroughly
make sure you're recording them in the way that we learned in this course and when you
finish this is what the trial balance should look like after recording all the transactions
that were just shown on the screen any numbers that are different you should double click and
drill down and examine what numbers are different between what I'm showing you here and what's in
your QuickBooks Online account this is what the unpaid bills detail should look like after your
exercise set and again you have to go through the open balance amount one by one to make sure that
each individual number matches if not apply the techniques that we learned this is what
the customers open invoice reports should look like after the exercise so after you do this and
all your numbers match you will really feel like you are an expert in QuickBooks Online
you