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Quickbooks Online Certification Study Guide 2024- 86 Q’s and A’s
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Quickbooks Online Certification Study Guide 2024- 86 Q’s and A’s
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Quickbooks Online CertificationStudy Guide 2024- 86 Q’s and A’s
What does a plus account let you do as an overview? - - Manage Bills, Track
billable time, track inventory
-What is Matching Expenses? - - Using money spent for the business
converts into expenses on quickbooks to match the amount spent.
-Self employed and simple start contains how many seats? - - one
-How many seats are in Plus? - - up to 5 users
-What is one factor to consider when choosing a QuickBooks Online Plan? - -
How many users and the type of business.
-Which two Quickbooks Online plans are ideal for freelancers, entrepreneurs,
and small businesses that only sell one service? - - Self employed and
simple start
-How many user seats does the advance plan include? - - 25
-List three benefits of using Quickbooks Online? - - Better shared access to
data with employees and accountants. No software or local data to manage
and access anywhere. Automatic app sync with nightly download.
-According the to the QuickBooks software license agreement, what are the
authorized users? - - Means any and all individuals who you designated or
authorized to access and / or modify software data on your behalf.
-What happens if a company allows more that the allotted number of users
on their QBO plan yto access and modify data? - - Breaches the license
agreement with legal repercussions. (fine or court order).
-When migrating desktop information to the online version of QuickBooks,
the desktop information automatically updates the newest version. True or
False. - - True
-What is the first step in migrating data? - - Select settings and then import
desktop data
-What is the second step in migrating data? - - Select online migration tool
then get started.
, -What is the third step in migrating data? - - Elect my files, temporary files,
then elect your file and refresh.
-What type of information will not migrate to QuickBooks online? - - Multi
currency functions, transaction line item lists of over 350k , memorized or
port transactions.
-How does one reconcile accounts to ensure the data transfer was
successful? - - Run a profit and loss report and balance sheet report for both
your desktop and online accounts to make sure they balance.
-What type of accounting should one use for the reconciliation process? - -
Accrual Accounting
-Name three types of user roles that do not count toward the QBO user limit.
- - Reports only, time tracking only, and take payment only.
-Which user role has complete access to see and do everything with an
account? - - Admin User
-Can only one user be assigned the company admin role? - - yes
-Which user role does not have complete access to an account but can enter
invoices, sales, and expenses, and work with costumer and vendor lists? - -
Standard Users
-Name two types of user roles that count towards the Quickbooks user limit.
- - Standard user and admin user
-Which user role allows employees to track their hours? - - Time tracking
-What can a standard user do? - - Invoices, sales, expenses. They can work
with a customer and vendor lists to manage subscriptions. Update company
info. Also enter time sheet data.
-What can take payments only person do? - - Can take payments with the
QuickBooks GoPayment app, but can't access the rest of your QuickBooks
company.
-What can Reports only person do? - - See all reports except one that shows
payroll or contact info.
-What can time tracking person only do? - - They can add their own time
sheets.
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