Quickbooks Certification Questions And Answers

Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? - Answer- 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? - Answer- 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? - Answer- Balance Sheet. Profit and Loss What are the main sections of the Profit & Loss? - Answer- Income, Cost of Goods Sold, and Expenses How do you move columns on a report? - Answer- 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? - Answer- Open the Memorized Report List and then Click Memorized Report New Group What happens if you double-click a diamond on a report column? - Answer- None of the above Which of the following reports answers the question "What transactions make up the current balance I owe each Vendor"? - Answer- Vendor Balance Detail You sent Quickbooks a report to Excel and made some changes. How do you import the changes back to Quickbooks? - Answer- 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? - Answer- 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? - Answer- Trial Balance opening balances How do you customize Quickbooks by changing the color scheme and adding or removing icons from the Home page? - Answer- Choose Edit Preferences Desktop View