PROADVISOR CERTIFICATION PREP EXAM |
ALL QUESTIONS AND CORRECT ANSWERS |
GRADED A+ | VERIFIED ANSWERS | STUDY
THIS ONE!
You're setting up corporate credit cards in QuickBooks Online. The card on
the primary subaccount is only used for payments, and you're going to post
payment transactions from the payment bank account to the primary
subaccount.
Which accounts should you link to the bank feeds? Select all that apply. ----
--CORRECT ANSWER---------------The primary subaccount
The non-primary subaccounts
When recording a failed payment, why do you need to deselect the original
invoice in the original Receive Payment transaction? ------CORRECT
ANSWER---------------To reset the aging of the original invoice
In a zero dollar expense transaction, why do you need to include a line
that's recorded as a negative value? ------CORRECT ANSWER---------------
To balance the other entries and to make the sum of the transaction zero
Which 3 of these statements are true about bank-to-bank transfer
matching? ------CORRECT ANSWER---------------**It works for both bank
and credit card accounts
**If it detects 2 transactions in different bank accounts sharing the same
date and equal but opposite amounts, it flags each as paired to another
transaction
If it detects 2 transactions in different bank accounts sharing the same date
and equal but opposite amounts, it automatically adds them
,**Bank-to-bank transfer matching only works with connected accounts in
the Banking center
Which of these statements about QuickBooks Online Accountant and
QuickBooks Online are true? Select all that apply. ------CORRECT
ANSWER---------------QuickBooks Online Accountant is a portal to your
clients' QuickBooks Online files
QuickBooks Online Accountant includes features that accountants can use
to manage their own practice and books
Which menu from the left-hand navigation in QuickBooks Online
Accountant would you select to send a request to a client? ------CORRECT
ANSWER---------------Work
Where would you go to find the accountant-only features such as Prep for
taxes or Write off invoices? ------CORRECT ANSWER---------------
Accountant Tools
What's the best way to compare two reports at the same time in
QuickBooks Online? ------CORRECT ANSWER---------------Right-click on
Reports in the left-hand menu to open in a new window, and pull up the
second report there
What account type would be most appropriate for tracking a loan your client
took out to buy a delivery van? ------CORRECT ANSWER---------------
Liabilities
,How would you best describe a product or service bundle? ------CORRECT
ANSWER---------------A collection of products and/or services that are sold
together
One of your clients runs a bakery. Which of the following sales transaction
should they use to record a day's sales in QuickBooks Online? ------
CORRECT ANSWER---------------Sales receipt
Which feature would give you the quickest route to finding any overdue
invoices? ------CORRECT ANSWER---------------The money bar
How can you edit the details of an existing customer? ------CORRECT
ANSWER---------------Select the customer's name from the list, then select
Edit in the Customer details panel
Which of these activities can clients do with sales receipts in QuickBooks
Online? Select all that apply. ------CORRECT ANSWER---------------Add a
new customer directly from the Sales Receipt screen
Edit the email that is sent to the customer with the sales receipt
Where can you find the online delivery settings? ------CORRECT
ANSWER---------------The Sales tab in Account and Settings
Starting from here, where can the client go to do this? Select all that apply.
------CORRECT ANSWER---------------Go to + New and select Receive
payment
Open the All sales tab, find the open invoice and select Receive payment
, Open the Invoices tab, find the open invoice and select Receive payment
Your client wants to invoice a customer for fuel they entered on a bill. The
Category detail line specifies the client's Fuel Expense account.
They mark the expense as billable and enter the customer's name.
Which option correctly describes how QuickBooks Online will record the
bill? ------CORRECT ANSWER---------------The transaction will credit
accounts payable (A/P), debit Fuel Expense, and create a billable expense
You're setting up time tracking for a client who has the following
requirements:
Timesheets should be completed weekly, with Tuesday as the first working
day of the week
Timesheet activities should be billed to the customer
Time-tracking users need to be able to specify which service/task they
carried out
Time-tracking users should not be able to see any billable rates
Which of the following settings are correct? Select all that apply. ------
CORRECT ANSWER---------------First day of work week dropdown:
TUESDAY
Show Service field: ON
Allow time to be billable: ON
Show billing rate to users entering time: OFF
How can you check for unbilled charges or time in QuickBooks Online?
Select all that apply. ------CORRECT ANSWER---------------Via the Reports
center
Via the money bar in the Sales center
What benefits does progress invoicing provide to clients? Select all that
apply. ------CORRECT ANSWER---------------Consistent cash flow
Keep contractors paid and happy
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