[amp_mcq option1=”Group creation window” option2=”Ledger creation window” option3=”Inventory creation window” option4=”Any one of them” correct=”option1″]
The correct answer is: A. Group creation window.
A party account is a record of a person, organization, or other entity that is involved in a transaction. It can be created through the Group creation window in QuickBooks Online. To do this, follow these steps:
- Go to the Accounting tab.
- Click Groups.
- Click New Group.
- In the Name field, enter a name for the group.
- In the Type field, select Party.
- Click Save.
The party account will be created and added to the Groups list. You can then add transactions to the account by selecting it from the Account drop-down list in the Transaction window.
The other options are incorrect because:
- B. Ledger creation window is used to create ledgers, which are records of financial transactions.
- C. Inventory creation window is used to create inventory items, which are products or services that a company sells.
- D. Any one of them is incorrect because only the Group creation window can be used to create party accounts.