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QuickBooks Online Certification 2024 Questions and Answers
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QuickBooks Online Certification 2024 Questions and Answers
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QuickBooks Online Certification 2024Questions and Answers
Primary admin - -Can manage all users
Created the QuickBooks account
-Company Admin - -this role is only available in QBO Advanced
-Custom user - -This role is only available in QBO Advanced
Has specific access to areas in QBO
-Standard user - -In all versions of QBO, this role can be set to specific
levels of access
-Close the Books feature's two benefits - -Users cannot change transactions
in a closed period
It generates a closing Date Detail report
-Accrual Accounting - -A company makes a sale and records the expected
revenue as an AR transaction
Provides a more accurate picture of the profitability of a company because it
includes AR and payables
-Cash Basis Accounting - -A company makes a sale, but revenue is not
realized until the invoice is paid
The most common method of accounting
-Tasks the can be automated in QBO - -Overdue Payment reminders
payroll
financial reporting
-QBO creates a chart of accounts based on the industry you selected - -true
-You can add, edit, and remove accounts after starting a new company in
QB - -True
-New accounts can only be added during the new company startup process -
-False
-only income and expense accounts can be added after starting a new
company - -False
-Three reasons to make transactions recurring in QBO - -Saves time
Minimizes human error
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