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QuickBooks Online Test 1 Questions and Complete Solutions Graded A+.
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QuickBooks Online Test 1 Questions and Complete Solutions Graded A+.
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QuickBooks Online Test1 Questions and
Complete Solutions
Graded A+
You need to set up a new user so they can see reports but can do nothing else in QuickBooks. Put the
steps for setting up a user who can only see reports in the correct order. - Answer: 1. Click the Company
menu and choose Manage Users.
2. In the Manage Users screen, click New.
3. For User Type, choose Reports Only and click Next.
4. Enter the user's email address and click Next.
5. Click the Reports tab.
You've just been hired as a bookkeeper, and the company's QuickBooks is a mess. There are many list
entries that are duplicates. You decide to merge list entries to clean up the lists. Which of the following
statements is true about merging? - Answer: You can only merge names from the same type.
You have two customers with the same name. How do you handle this in QuickBooks? - Answer: Use a
middle initial or other letter in the display name to make one name different from the other.
Your customer, Donna Comeback, has gone out of business and you will never sell to her again. Put the
steps for removing her from the customer list in the correct order. - Answer: 1. Click the Customer tab.
2. Edit the Customer you want to remove (Donna).
3. Click Make Inactive.
How do delayed charges affect a customer's balance? - Answer: Delayed charges have no effect on a
customer's balance.
, Which of the following statements is true regarding Undeposited Funds in QuickBooks? - Answer:
Undeposited Funds is an account used to record payments before you make a deposit.
What is one reason to not use a bank deposit or journal entry screen to record sales? - Answer: If you
record sales through the bank deposit or journal entry screen, the sale will not appear on sales reports.
What transaction should you enter if a customer returns a damaged product or, in the case of a service,
complains so much you decide to offer a refund? - Answer: Credit Memo
When you invoice for time and costs, where does QuickBooks get the billable time or costs? - Answer:
QuickBooks gets the billable time or costs from billable time entered on timesheets and/or billable costs
entered on checks and bills.
You're setting up a new customer. How do you tell QuickBooks that this customer's invoices should be
due 30 days after they're issued? - Answer: Set the customer's Terms to Net30.
How would you enter a transaction that won't be downloaded in which you paid for a service using a
debit card? - Answer: Click the Global Create button and select Expense. Fill out the expense and use
Debit Card as the payment method.
In QuickBooks Online, entering a purchase order for inventory affects which accounts? - Answer: No
accounts are affected because purchase orders are non-posting transactions.
Which of the following statements is true regarding vendor credit memos? - Answer: Vendor credit
memos reduce what you owe the vendor.
Why would a business choose to enter a bill and then pay the bill later (requiring two steps) instead of
just recording the check or expense when paying the bill (requiring one step)? - Answer: Entering a bill
and paying it later allows you to track accounts payable.
Your boss wants to know if there are any overdue bills. What report would you run to give him this
information? - Answer: Accounts Payable Aging report
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