Quickbooks Certification Practice Questions and Answers
2023 with complete solution
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 QuickBooks
editions?
QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise
Solutions
What happens when you press F2 in QuickBooks?
QuickBooks opens the Product Information windows which includes version and
company file information.
Why would you restore a data file from the backup file?
All of the above
When would you enter a journal entry?
To correct errors (if you have a strong accounting background)
How do you switch to Multi-User Mode?
Choose File > Switch to Multi-user Mode from the menu.
To record a bounced check, you open the same Receive Payment window that
you used to receive the original payment, and click "Bounced Check".
QuickBooks opens the Bounced Check wizard. What does QuickBooks do when
you finish this wizard?
D
Which of the following Payroll Services are available with QuickBooks?
2023 with complete solution
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 QuickBooks
editions?
QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise
Solutions
What happens when you press F2 in QuickBooks?
QuickBooks opens the Product Information windows which includes version and
company file information.
Why would you restore a data file from the backup file?
All of the above
When would you enter a journal entry?
To correct errors (if you have a strong accounting background)
How do you switch to Multi-User Mode?
Choose File > Switch to Multi-user Mode from the menu.
To record a bounced check, you open the same Receive Payment window that
you used to receive the original payment, and click "Bounced Check".
QuickBooks opens the Bounced Check wizard. What does QuickBooks do when
you finish this wizard?
D
Which of the following Payroll Services are available with QuickBooks?
