QuickBooks Certification Exam Study Guide Questions & Answers (GRADED A+)

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 invoice Which of the following CAN be memorized in quickbooks? - ANSWERScheck Which is NOT shown on the payroll summary report on quickbooks? - ANSWERSinformation necessary to complete your state unemployment tax form The bank notified you that a customer's check you deposited has bounced. The customer did not have sufficient funds to cover the check. What should you do? - ANSWERSRecord a transaction to show the customer owes you the money and that the checking balance decreased by that same amount Suppose you always want all reports to show a specific size and color,how do you set standard preference in quickbooks so you don't have to customize each report? - ANSWERSClick the edit menu and select preferences then click the reports and graphs group to set preferences Suppose you want to restrict which users can access customer credit card numbers. How do you do this? - ANSWERSGive the user access to sales and accounts receivable but do not check the complete credit card numbers Which of the following is a possible reason for a bank reconciliation discrepancy? - ANSWERSThe beginning balance calculated by quickbooks does not match last months ending balance which of the following statements is TRUE regarding Undeposited funds? - ANSWERSIt is an account used to record payments before you make a deposit Which accounts are affected when you enter Time in quickbooks? - ANSWERSAccounts receivable Workers who require a W2 tax form at the end of the year should be added to which of