Quickbooks Online Certification Study Guide
What does a plus account let you do as an overview? ANSW - Manage Bills, Track billable time, track inventory
What is Matching Expenses? ANSW - Using money spent for the business converts into expenses on quickbooks to match the amount spent.
Quickbooks Online Certification Study
Guide
What does a plus account let you do as an overview? ANSW - Manage Bills, Track billable time,
track inventory
What is Matching Expenses? ANSW - Using money spent for the business converts into
expenses on quickbooks to match the amount spent.
Self employed and simple start contains how many seats? ANSW - one
How many seats are in Plus? ANSW - up to 5 users
What is one factor to consider when choosing a QuickBooks Online Plan? ANSW - How many
users and the type of business.
Which two Quickbooks Online plans are ideal for freelancers, entrepreneurs, and small
businesses that only sell one service? ANSW - Self employed and simple start
How many user seats does the advance plan include? ANSW - 25
List three benefits of using Quickbooks Online? ANSW - Better shared access to data with
employees and accountants. No software or local data to manage and access anywhere.
Automatic app sync with nightly download.
According the to the QuickBooks software license agreement, what are the authorized users?
ANSW - Means any and all individuals who you designated or authorized to access and / or
modify software data on your behalf.
What happens if a company allows more that the allotted number of users on their QBO plan yto
access and modify data? ANSW - Breaches the license agreement with legal repercussions. (fine
or court order).
, When migrating desktop information to the online version of QuickBooks, the desktop
information automatically updates the newest version. True or False. ANSW - True
What is the first step in migrating data? ANSW - Select settings and then import desktop data
What is the second step in migrating data? ANSW - Select online migration tool then get started.
What is the third step in migrating data? ANSW - Elect my files, temporary files, then elect your
file and refresh.
What type of information will not migrate to QuickBooks online? ANSW - Multi currency
functions, transaction line item lists of over 350k , memorized or port transactions.
How does one reconcile accounts to ensure the data transfer was successful? ANSW - Run a
profit and loss report and balance sheet report for both your desktop and online accounts to make
sure they balance.
What type of accounting should one use for the reconciliation process? ANSW - Accrual
Accounting
Name three types of user roles that do not count toward the QBO user limit. ANSW - Reports
only, time tracking only, and take payment only.
Which user role has complete access to see and do everything with an account? ANSW - Admin
User
Can only one user be assigned the company admin role? ANSW - yes
Which user role does not have complete access to an account but can enter invoices, sales, and
expenses, and work with costumer and vendor lists? ANSW - Standard Users
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