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QuickBooks Online Certification 2024 Questions and Complete Solutions Graded A+.
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QuickBooks Online Certification 2024 Questions and Complete Solutions Graded A+.
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QuickBooks OnlineCertification 2024
Questions and Complete
Solutions Graded A+
Primary admin - Answer: Can manage all users
Created the QuickBooks account
Company Admin - Answer: this role is only available in QBO Advanced
Custom user - Answer: This role is only available in QBO Advanced
Has specific access to areas in QBO
Standard user - Answer: In all versions of QBO, this role can be set to specific levels of access
Close the Books feature's two benefits - Answer: Users cannot change transactions in a closed period
It generates a closing Date Detail report
Accrual Accounting - Answer: A company makes a sale and records the expected revenue as an AR
transaction
Provides a more accurate picture of the profitability of a company because it includes AR and payables
Cash Basis Accounting - Answer: A company makes a sale, but revenue is not realized until the invoice is
paid
The most common method of accounting
, Tasks the can be automated in QBO - Answer: Overdue Payment reminders
payroll
financial reporting
QBO creates a chart of accounts based on the industry you selected - Answer: true
You can add, edit, and remove accounts after starting a new company in QB - Answer: True
New accounts can only be added during the new company startup process - Answer: False
only income and expense accounts can be added after starting a new company - Answer: False
Three reasons to make transactions recurring in QBO - Answer: Saves time
Minimizes human error
Reduces late payments
The best way to automate credit card payments with a recurring sales receipt - Answer: create a
template
The steps to enter info into a journal entry are: - Answer: 1 - select the account
2 - enter the amount to be credited and debited
3 - verify the credit/debit amounts are the same
4 - enter a memo
Where can QB apps be downloaded? - Answer: QuickBooks App Store
Pros of QBO functionality through apps - Answer: QBO offers numerous applications and add-ons that
integrate seamlessly to automate workflow, bookkeeping, invoicing, data entry, and more.
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