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Exam (elaborations)

QuickBooks Exam Questions and Answers
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  • Quickbooks online
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  • Quickbooks Online

1. Select the Gear icon, and select Account and Settings, under the Your Company column 2. ________ and scroll down to the Online delivery section 3. ________ to ensure that Attach invoice as pdf is unchecked. Identify the missing steps. - Answer-2. Select the Sales tab, 3. From the drop-do...

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  • October 3, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • quickbooks exam questions and answers
  • 1 select the gear icon and select account and s

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  • Quickbooks online
  • Quickbooks online

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QuickBooks Exam Questions and
Answers
1. Select the Gear icon, and select Account and Settings, under the Your Company
column
2. ________ and scroll down to the Online delivery section
3. ________ to ensure that Attach invoice as pdf is unchecked.

Identify the missing steps. - Answer-2. Select the Sales tab,
3. From the drop-down list, click on the Online invoice.

1. ___________
2. Under Your Company, select Account and Settings
3. Select Advanced tab
4. In the Other preferences section, select the option to warn if duplicate check number
is used and warn if a duplicate bill number is used
5. __________ - Answer-1. Select the Gear Icon
5. Select Save

Your client doesn't want to pay a monthly fee for their Quickbooks Payments merchant
account. What other option is available to them, and wherein QuickBooks Online can
they sigh up for Quickbooks Payments? - Answer-There is another plan which means
the customer pays the transaction charge; In the Biling and the Subscription tab of
Account and Settings

1. Sign in to your QuickBooks Online Accountant account
2. ___________________________
3. You'll see the client company dashboard
4. ___________________________
5. Select Account and Settings
6. Select the Pencil icon in the Address section of the Company tab - Answer-2. Select
the client company from the Client Switcher drop-down in the green header bar.
4. Select the gear icon

A great feature of QuickBooks Online is that there are other lists you can utilize to make
it easier to fill in forms. Where would you go to find these lists? - Answer-Go to the Gear
icon and select All Lists

Where can you go to Quickbooks Online to import a lists of products and services? -
Answer-Select the gear icon and under the Tools column, select Import Data, then
Products and services

, What is the difference between the "Profit and Loss Report" and the "Balance Sheet
Report"? - Answer-- P&L shows activities: income and expenses to arrive at Net Income
(Profit) for a specific time period
-The Balance Sheet shows values: Assests and Liabilities to arrive at Equity (Net
Worth) as of a specific date
-The Net Income from the P&L pass through the equity section in the balance sheet

The Chart of Accounts lies at the heart of a QuickBooks Online company. Which 5 of
the following statements are true about the Chart of Accounts, how to make changes to
the Chart of Accounts, and how products and services are linked to the Chart of
Accounts? - Answer--To add a new account, you open the Chart of Accounts by
selecting Accounting from the left navigation, then select New to open the Account
window
-The Sales of Product Income account is a default account when inventory is turned on
Uncategorized Income and uncategorized Expense are default accounts for online
banking activity
-If you add a new account, the category type determines on which financial statement
this account will show
-Delete an account from the Chart of Accounts if it is not relevant to your business

If you want to give one or more of your employee's accesses to Your Practice, what
types of user permissions can be set up? - Answer-Regular or custom user, Company
administrator, Reports only and Time Tracking only.

Look at the following 2 statements:

Statement 1: "QuickBooks Online ________ is the do-it-for-me option; a complete
payroll service with a team of US-based payroll experts to take care of payroll for your
client."

Statement 2: "You can also link up _________ with Quick-books to simplify workflow
and save yourself a significant amount of time. You'll benefit from a seamless, end-to
end experience that translates a client's Quick books Online books into a tax return." -
Answer-Statement 1: Full-Service Payroll

Statement 2: Pro-Connect Tax Online

Your client wants to transfer $500 from their checking account into a savings account to
cover tax liabilities for sales made last month. Where should they start the process? -
Answer-Navigate to the Quick Create icon, then find the Transfer link.

Look at the two sentences about Undeposited Funds:

1. By posting to Undeposited Funds, you can create a single bank deposit for multiple
payments, making it easy ________.

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