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Quick-books Certification Exam Questions with Correct Answers
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Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? - Answer-So that Payroll Liabilities show yp in the Pay Taxes & Other Liabilities list in the Payroll Center What are the first two steps to set up payroll in Quickbooks? - Answer-1) S...

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

Subjects

  • quick books certification exam questions with corr
  • why must you set deposit frequencies for the taxes

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  • Quickbooks online
  • Quickbooks online

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Quick-books Certification Exam
Questions with Correct Answers
Why must you set deposit frequencies for the taxes or deductions your company has to
pay (Payroll Liabilities)? - Answer-So that Payroll Liabilities show yp in the Pay Taxes &
Other Liabilities list in the Payroll Center

What are the first two steps to set up payroll in Quickbooks? - Answer-1) Sign up for a
payroll services; and 2) complete the Payroll Setup Interview

What are the 2 main Financial Statements you can run from the "Company and
Financial" category of reports? - Answer-Balance Sheet. Profit and Loss

What are the main sections of the Profit & Loss? - Answer-Income, Cost of Goods Sold,
and Expenses

How do you move columns on a report? - Answer-Move your cursors over the column
heading, and when it becomes a hand, click and drag the column to the desired
position.

How do you create a memorized group of reports? - Answer-Open the Memorized
Report List and then Click Memorized Report > New Group

What happens if you double-click a diamond on a report column? - Answer-None of the
above

Which of the following reports answers the question "What transactions make up the
current balance I owe each Vendor"? - Answer-Vendor Balance Detail

You sent Quickbooks a report to Excel and made some changes. How do you import
the changes back to Quickbooks? - Answer-You can't import changes in Excel back to
Quickbooks.

You've been hired by a company that started in 1911. They've never used QuickBooks.
During the Advanced/Detailed Setup, what "State Date" should you use in the EasyStep
Interview? - Answer-The date you want to begin tracking the company's finances in
Quickbooks.

Which of the following CANNOT be entered during the setup of a new company
(Express Start or Advanced/Detailed Setup) file? - Answer-Trial Balance opening
balances

, How do you customize Quickbooks by changing the color scheme and adding or
removing icons from the Home page? - Answer-Choose Edit > Preferences > Desktop
View

??? - Answer-Click the Formatting Tab at the top of the form; then click Customize Data
Layout

You need to enter the same transaction each month (for example, an insurance
payment). How can you automate this process in Quickbooks? - Answer-While the
transaction is on the screen, choose Edit > Memorize check (or the name of the
transaction).

How do you set up multiple users in QuickBooks Pro or Premier? - Answer-Choose
Company > Set Up Users and Passwords > Set Up Users

What is the maximum number of names that cab be included on he Names lists in
QuickBooks Pro or Premier? - Answer-14,500

What keyboard shortcut allows you to see a total for all four names lists? - Answer-F2

What do the diamonds mean on certain lists (for example, the diamonds to the left of
each Customer: Job)? - Answer-You can click on the diamond and move the list entry to
a different location on the list.

If you moved a list entry up or down, what happens when you add a new entry to the
list? - Answer-Quickbooks adds new list entries to the top of the list, regardless of
alphabetic order.

How do you combine or merge two list entries? - Answer-Rename the unwanted list
entry to match the name of the list entry you want to merge into.

What transaction/form do you begin with to enter a vendor credit? - Answer-Enter Bill

What happens to the inventory asset account when you enter a purchase order for
inventory? - Answer-No accounts are affected

When should you NEVER delete a check? - Answer-You printed a check, and the check
number has been used.

How do you track accounts payable in QuickBooks? - Answer-Enter a bill, and then use
the Pay Bills window.

Suppose you have a subcontractor who receives a 1099 from your company. Which list
should you add them to? - Answer-Vendor List

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