Exam (elaborations)
Quickbooks Certification Exam/80 Q’s and A’s/Distinction Graded
Quickbooks Certification Exam/80 Q’s and A’s/Distinction Graded
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Quickbooks Certification Exam/80 Q’s andA’s/Distinction Graded
Why must you set deposit frequencies for the taxes or deductions your
company has to pay (Payroll Liabilities)? - -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? - -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? - -Balance Sheet. Profit and Loss
-What are the main sections of the Profit & Loss? - -Income, Cost of Goods
Sold, and Expenses
-How do you move columns on a report? - -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? - -Open the Memorized
Report List and then Click Memorized Report > New Group
-What happens if you double-click a diamond on a report column? - -None of
the above
-Which of the following reports answers the question "What transactions
make up the current balance I owe each Vendor"? - -Vendor Balance Detail
-You sent Quickbooks a report to Excel and made some changes. How do
you import the changes back to Quickbooks? - -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? - -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? - -Trial Balance
opening balances
-How do you customize Quickbooks by changing the color scheme and
adding or removing icons from the Home page? - -Choose Edit >
Preferences > Desktop View
, -??? - -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? - -
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? - -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? - -14,500
-What keyboard shortcut allows you to see a total for all four names lists? - -
F2
-What do the diamonds mean on certain lists (for example, the diamonds to
the left of each Customer: Job)? - -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? - -Quickbooks adds new list entries to the top of the list,
regardless of alphabetic order.
-How do you combine or merge two list entries? - -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? - -Enter
Bill
-What happens to the inventory asset account when you enter a purchase
order for inventory? - -No accounts are affected
-When should you NEVER delete a check? - -You printed a check, and the
check number has been used.
-How do you track accounts payable in QuickBooks? - -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? - -Vendor List
-When you start a company or are hired as a bookkeeper, it is important to
know which edition of QuickBooks you are using. What are the major
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