In the QuickBooks Online check register, the check mark (✓) column indicates which of the following?

• A. The amount of the transaction
• B. The date the transaction was entered into QuickBooks
• C. The account to which the transaction is posted
• D. Whether a transaction has been cleared or reconciled with the bank statement

Answer: (D)

Verified step by step guidance

1. Understand the purpose of the check mark (✓) column in the QuickBooks Online check register. It is used to indicate whether a transaction has been cleared or reconciled with the bank statement.
2. Clarify the concept of reconciliation: Reconciliation is the process of comparing transactions recorded in QuickBooks with the bank statement to ensure accuracy and completeness.
3. Recognize that the check mark (✓) does not represent the amount, date, or account of the transaction. These details are recorded in other columns of the check register.
4. Learn how the check mark (✓) is applied: When a transaction matches the bank statement during reconciliation, the check mark is added to signify that it has been cleared.
5. Understand the importance of reconciliation: Regularly reconciling transactions helps ensure the financial records are accurate and prevents errors or discrepancies in accounting.