QBO ADVANCED SECTION 4 EXAM QUESTIONS AND ANSWERS ALL VERIFIED BY EXPERT
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Course
NURSING 706
Institution
NURSING 706
QBO ADVANCED SECTION 4 EXAM QUESTIONS AND ANSWERS ALL VERIFIED BY EXPERT
When creating an invoice, what is the importance of the Location of sale field in the header?
The address in the field determines the amount of shipping to be added to the invoice
The address in that field determines which ...
QBO ADVANCED SECTION 4 EXAM QUESTIONS
AND ANSWERS ALL VERIFIED BY EXPERT
1). When creating an invoice, what is the importance of the location of sale field in the header?
the address in the field determines the amount of shipping to be added to the invoice
the address in that field determines which sales tax should be applied when based on
location of sale
the address in that field determines which sales tax should be applied when based on
custom rates
the address in that field determines which location column the transaction will show up in
when running a balance sheet by location
Ans: The address in that field determines which sales tax should be applied when
based on location of sale
2). How does quickbooks online know to which customers a custom sales tax rate should
apply?
it is identified in the tax info tab of the customer information record
it can only be identified on an invoice
the customers are selected when setting up the taxable product or service
the customers are selected when adding/editing the custom rate
Ans: It can only be identified on an invoice
3). If you think sales tax is not being calculated correctly, which 2 of these should you verify?
that the tax is calculating on the customer's area code
that location tracking is turned on
that the correct tax category is selected
that the tax is calculating on the correct address
that a price rule is being applied
Ans: That the tax is calculating on the correct address
That a price rule is being applied
4). When creating an invoice, where can you easily change the tax rate for a product?
see the math > customer tax details
see the math > custom rate
product line > select link on checkmark in tax column
see the math > tax category
PaperStoc.com Page 1 of 5
, Ans: See the math > Customer tax details
5). How do you record a sales tax payment in quickbooks online?
taxes > sales tax > view return > record payment > enter payment amount, date and bank
account > record payment
+ new > file sales tax > select state > enter adjustment > enter date and bank account >
record payment
taxes > sales tax > view return > select link for state website > enter adjustments if needed >
enter payment date > record payment
taxes > sales tax > prepare return > view report > enter payment amount, date and bank
account > record payment
Ans: Taxes > Sales Tax > View return > Record payment > Enter payment amount, date
and bank account > Record payment
6). If a client is using custom sales tax rates, which area do they see when the select see the
math?
override this amount
customer tax details
your tax agency and standard rate
tax categories and totals
Ans: Customer tax details
7). Which 4 transaction types can be made into recurring templates?
paycheck
receive payment
bill
transfer
deposit
invoice
inventory quantity adjustment
pay bills
Ans: Bill
Transfer
Deposit
Invoice
8). Which 2 statements are true when using a daily sales summary in quickbooks online?
the transaction is a sales receipt that deposits to a new and separate undeposited funds
account
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