Quickbooks Final EXAM BUNDLE(COMPLETE PACKAGE)| 40 Questions| Correct Answers (GRADED A+)

After quickbooks sets up a chart of accounts in the easy step interview, which of the following is True? - ANSWER It's possible to add more accounts later #Assume that quickbooks is now in single user mode. What does this mean? - ANSWER only one user can access the data file The bank notified...

Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? - ANSWERSSo 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? - ANSWERS1) Si...

Client Needs Assessment Process - ANSWERSWho, What, When, and How Who? - ANSWERSGet to know who your client is, what they stand for, what they're aiming for and where they're coming from What? - ANSWERSEvery business, large or small, has a variety of parts. You need to find our what they are...

After quickbooks sets up a chart of accounts in the easy step interview, which of the following is True? - ANSWERSIt's possible to add more accounts later #Assume that quickbooks is now in single user mode. What does this mean? - ANSWERSonly one user can access the data file The bank notified...

What type of business relies on knowing their inventory at all times? - ANSWERSB2B 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? - ANSWERSRetail and e-com...

Can you delete or make inactive something on a list if it has a balance (e.g. Customer, Vendor, or Stock Product, or Account)? - ANSWERSYes, QuickBooks will automatically create a transaction to make the balance zero. While setting up a QuickBooks Online account, you accidentally entered the wron...

Why would you hide or collapse sub accounts on a report? - ANSWERSTo temporarily hide unnecessary detail and hide parent accounts What should you do after you click save & close on a customer credit memo? - ANSWERSChoose between retained as an available credit, give a refund or apply to an invoic...

Which 3 navigation features are missing in a Reports Only user's view? - ANSWERSNavigation panel Search box + New button Gear icon Help menu Your client has called for help with their bank feeds in QuickBooks Online. You begin by asking them to open the Banking tab in the Left Navigation bar...

Can you delete or make inactive something on a list if it has a balance (e.g. Customer, Vendor, or Stock Product, or Account)? - ANSWERSYes, QuickBooks will automatically create a transaction to make the balance zero. While setting up a QuickBooks Online account, you accidentally entered the wron...

The _____ basis of accounting matches income for the period against expenses for the period? - ANSWER Accrual To change a column width in a report without changing the size of the print, you must? - ANSWER Print the Report in landscape orientation use Fit Report to one page wide option change t...

Chart of Accounts -ANSWER This is the name of the list of accounts the company uses as it conducts its business deits and credits -ANSWER each account in the general ledger shows all increase and decreases Accounting -ANSWER to edit account names and add account numbers, begin by clicking t...

Which of the following is not an input field or selection at the Add New Account window? a. Financial Statement Override b. Description c. Account Type d. Enter Opening Balance - ANSWER a. Financial Statement Override Which of the following is not an available button at the Glad you're her...

To memorize a report: - ANSWER Create a report > Memorize The following taxes are reported on form 941 except: - ANSWER State income taxes withheld from the employee paychecks When saving reports as a file to a disk, QuickBooks permits you to select from all of the following file formats ex...

accounting - ANSWER The process of recording, summarizing, and presenting the financial information of a company in the form of financial statements. accrual basis of accounting - ANSWER An accounting method that requires the recording of revenue when it is earned and the recording of expenses wh...