QuickBooks Online Certification Test Exam Study Guide Questions and Answers
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Course
Quickbooks online
Institution
Quickbooks Online
You spend hours customizing a report to contain all the information you want. You want to run this report without having to do this customization again, how would you do that? - Answer-1. When the report is customized to your liking, click "save customizations"
2.Name the report and click "Save"
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QuickBooks Online Certification Test
Exam Study Guide Questions and
Answers
You spend hours customizing a report to contain all the information you want. You want
to run this report without having to do this customization again, how would you do that?
- Answer-1. When the report is customized to your liking, click "save customizations"
2.Name the report and click "Save"
3.To run the customized report, select Reports from the navigation bar
4.Select the Custom reports tab
5.Click on the name of the report to open it, then select Run report
Can you delete or make inactive something on a list if it has a balance (e.g. Customer,
Vendor, or Stock Product, or Account)? - Answer-Yes, QuickBooks will automatically
create a transaction to make the balance zero.
While setting up a QuickBooks Online account, you accidentally entered the wrong
company address. How would you fix this error? - Answer-Change it in Account and
Settings window, which you can access by clicking the Gear icon and select Account
and Settings.
If you use QuickBooks Online Plus, how do you charge a customer for expenses you
incurred on a project? - Answer-When entering the expense, enter the customer name
and select the Billable checkbox.
Which transaction does not affect the customer's balance? - Answer-Estimate
Which transactions CANNOT be made recurring? - Answer-Deposit
What do you use Terms for in QuickBooks? - Answer-To determine when a customer's
invoice is due.
Select the statement that's NOT true about using the QuickBooks app on a mobile
device. - Answer-You can do everything (all QuickBooks functionality) on the app that
can do in your regular QuickBooks (using a browser).
Your Accountant is upset that changes are being made to last year's numbers. How can
you stop this from happening? - Answer-In the Advanced section of the company
settings, set a Closing Date.
Which of the following statements is TRUE regarding products and services? - Answer-
When you purchase or sell a product, the value of the purchase or sale flows to the
, account (and therefore the financial statement) you selected when you set up the
product or service.
Which is NOT a good reason to enter a General Journal Entry? - Answer-To avoid using
the built-in forms (e.g. checks and invoices)
Put the 2 steps for entering a vendor credit and using it when you pay the bill in the
correct order. - Answer-1. Click the Global Create Button, Plus sign, and select Vendor
Credit.
2. Click the Global Create Butto, Plus sign and select Pay Bills.
When should you use the Items Details area (bottom of the screenshot below) on a bill,
check or expense? - Answer-To track sales tax
When you want to send someone a bill for items
When you purchase stock
The Accounts Payable Aging report can help you stay on top of your business because
it lists which of the following? - Answer-You can view what you owe and when it's due.
What information does QuickBooks NOT ask/need when you create a new QuickBooks
Online account for a company? - Answer-The owner's name
Which section of the Balance Sheet shows your Accounts Receivable balance? -
Answer-Assets
Your Employer wants to see profit in department A separate from department B. What is
the best way to set this up? - Answer-Turn on Classes and set up each department as
its own class.
You have a customer who hires you to work on several projects. How do you keep the
sales and expenses for each project separate so you run reports to see how profitable
each project is? - Answer-Select the "Track separately" checkbox on the invoices for
each job.
Which of the following statements about Users is TRUE? - Answer-You can have as
many Reports Only and Time Tracking Only users as you want.
Which of the following could explain why a Profit and Loss shows a profit, but the
business owner does not have any money in the bank? - Answer-The profit and loss
was run on the Accrual Basis instead of the Cash Basis
To speed up the set up process you can import certain lists into QuickBooks. Which of
the following CAN be imported? - Answer-Chart of Accounts, Products and Services,
Customers and Vendors
How do you hide all subaccounts on a report? - Answer-Click the Collapse button.
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