QuickBooks Online Certification Exam- Section 1 Questions and Answers 100% Pass
What type of business relies on knowing their inventory at all times?
B2B Wholesale businesses
*** Managing inventory and avoiding out-of-stock situations is critical to the success of what type of business, as w...
QuickBooks Online Certification Exam-
Section 1 Questions and Answers 100% Pass
What type of business relies on knowing their inventory at all times?
B2B Wholesale businesses
*** Managing inventory and avoiding out-of-stock situations is critical to the success of what type of
business, as well as understanding cash flow and balance sheets?
Retail and e-commerce businesses
What are the three different ways to get information into QuickBooks Online?
1. Convert data in existing QuickBooks Desktop software
2. Import customers, vendors, Chart of Accounts, and products and services lists from Excel
3. Enter all data manually
What are the five different subscription plans available on QuickBooks Online?
Self-Employed, Simple Start, Essentials, Plus, and Advanced
What is considered the backbone of accounting software?
The Chart of Accounts, including all assets, liabilities, income and expenses
In wholesale billing, who is billed monthly for the subscription of QBO?
the Accountant
How much does the Accountant user pay for wholesale billing?
50% wholesale discount
What is a perk of wholesale billing?
The Accountant user decides how the clients will be billed.
What are three others advantages of wholesale billing?
bundling expenses, easy tracking, and switch anytime
How do you add a new client?
1. Go to Client Dashboard in QuickBooks Online Accountant
2. Select Add Client
3. Enter the business info
How do existing users add you as you as their Accountant on QBO?
1. Tell them to go to My Accountant in the left hand navigational panel
2. Send email
3. Accept invite
4. Sign in using QBO account information
5. Continue
6. The user will be added to your list of clients
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