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QuickBooks Online Certification Exam- Section 1
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QuickBooks Online Certification Exam- Section 1
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QuickBooks Online CertificationExam- Section 1
What type of business relies on knowing their inventory at all times? - -B2B
Wholesale businesses
-*** Managing inventory and avoiding out-of-stock situations is critical to the
success of what type of business, as well as understanding cash flow and
balance sheets? - -Retail and e-commerce businesses
-What are the three different ways to get information into QuickBooks
Online? - -1. Convert data in existing QuickBooks Desktop software
2. Import customers, vendors, Chart of Accounts, and products and services
lists from Excel
3. Enter all data manually
-What are the five different subscription plans available on QuickBooks
Online? - -Self-Employed, Simple Start, Essentials, Plus, and Advanced
-What is considered the backbone of accounting software? - -The Chart of
Accounts, including all assets, liabilities, income and expenses
-In wholesale billing, who is billed monthly for the subscription of QBO? - -
the Accountant
-How much does the Accountant user pay for wholesale billing? - -50%
wholesale discount
-What is a perk of wholesale billing? - -The Accountant user decides how the
clients will be billed.
-What are three others advantages of wholesale billing? - -bundling
expenses, easy tracking, and switch anytime
-How do you add a new client? - -1. Go to Client Dashboard in QuickBooks
Online Accountant
2. Select Add Client
3. Enter the business info
-How do existing users add you as you as their Accountant on QBO? - -1.
Tell them to go to My Accountant in the left hand navigational panel
2. Send email
3. Accept invite
4. Sign in using QBO account information
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