Exam (elaborations)
QuickBooks Online Certification Test/61 Questions and Answers/A+ Rated
QuickBooks Online Certification Test/61 Questions and Answers/A+ Rated
[Show more]
Content preview
QuickBooks Online Certification Test/61Questions and Answers/A+ Rated
Can you delete or make inactive something on a list if it has a balance (e.g.
Customer, Vendor, or Stock Product, or Account)? - -Yes, QuickBooks will
automatically create a transaction to make the balance zero.
-While setting up a QuickBooks Online account, you accidentally entered the
wrong company address. How would you fix this error? - -Change it in
Account and Settings window, which you can access by clicking the Gear
icon and select Account and Settings.
-If you use QuickBooks Online Plus, how do you charge a customer for
expenses you incurred on a project? - -When entering the expense, enter
the customer name and select the Billable checkbox.
-Your boss asks you to remove an account from the Chart of Accounts (you
don't use it anymore). How would you do this? - -You can't delete an
Account from QuickBooks.
-Which transaction does not affect the customer's balance? - -Estimate
-Which transaction CANNOT be made recurring? - -Deposit
-What do you use Terms for in QuickBooks? - -To determine when a
customer's invoice is due.
-Select the statement that's NOT true about using the QuickBooks app on a
mobile device. - -You can do everything (all QuickBooks functionality) on the
app that can do in your regular QuickBooks (using a browser).
-Your Accountant is upset that changes are being made to last year's
numbers. How can you stop this from happening? - -In the Advanced section
of the company settings, set a Closing Date.
-Which of the following statements is TRUE regarding products and services?
- -When you purchase or sell a product, the value of the purchase or sale
flows to the account (and therefore the financial statement) you selected
when you set up the product or service.
-Which is NOT a good reason to enter a General Journal Entry? - -To avoid
using the built-in forms (e.g. checks and invoices)
, -When should you use the Items Details area (bottom of the screenshot
below) on a bill, check or expense? - -To track sales tax
When you want to send someone a bill for items
When you purchase stock
-The Accounts Payable Aging report can help you stay on top of your
business because it lists which of the following? - -You can view what you
owe and when it's due.
-What information does QuickBooks NOT ask/need when you create a new
QuickBooks Online account for a company? - -The owner's name
-Which section of the Balance Sheet shows your Accounts Receivable
balance? - -Assets
-Your company would like to sell their products online. They ask you to look
for an app that makes it easy for customers to buy online. However, they
also want you to be efficient. They do NOT want you to have to manually
enter these sales into QuinckBooks. They want the sales to automatically
update QuickBooks. What's a good place to start looking for an app that can
do this? - -The Apps tab in QuickBooks.
-Your Employer wants to see profit in department A separate from
department B. What is the best way to set this up? - -Turn on Classes and
set up each department as its own class.
-You have a customer who hires you to work on several projects. How do
you keep the sales and expenses for each project separate so you run
reports to see how profitable each project is? - -Select the "Track
separately" checkbox on the invoices for each job.
-Which of the following statements about Users is TRUE? - -You can have as
many Reports Only and Time Tracking Only users as you want.
-Which of the following could explain why a Profit and Loss shows a profit,
but the business owner does not have any money in the bank? - -The profit
and loss was run on the Accrual Basis instead of the Cash Basis
-To speed up the set up process you can import certain lists into
QuickBooks. Which of the following CAN be imported? - -Chart of Accounts,
Products and Services, Customers and Vendors
-How do you hide all subaccounts on a report? - -Click the Collapse button.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.54. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80796 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now
