QuickBooks Certification Exam Questions With Correct Answers 2023/2024 | Graded A+

QuickBooks Certification Exam Questions With Correct Answers 2023/2024 | Graded A+. What should you do after you click save & close on a customer credit memo? AnsChoose between retained as an available credit, give a refund or apply to an invoice **What steps most you complete to use the payroll center to pay payroll liabilities? Ans- Set deposit frequencies #What tool do you use to move your logo to a form? Ans- layout designer #What transaction in quickbooks should you use if your customer pays you when you provide the goods or services? Ans- Sales receipt #When a transaction is changed, what information does the Audit Trail report provide? Ans- who changed the transaction, and the date/time the transaction was changed #When can you delete a check from quickbooks without voiding it? Ans- When you have multiple copies of the check When making your payroll tax deposit, how can you add IRS interest and/or penalties? Ans- Click the expense tab and enter the appropriate account and amount of interest and penalties #When should you set up a non-inventory item type? Ans- for something you buy and sell but don't need to track the quantity on hands When should you use the items tab on a bill or check? Ans- When you purchase inventory parts **When you are setting up a service item, what happens if you select the box next to this "service is performed by a subcontractor or partner"? Ans- quickbooks provides fields so you can track purchases and sales information for that item What is the best definition of the start date in quickbooks? Ans- The day you choose to start recording the financial records #When you enter a purchase order for inventory, which accounts are affected? AnsNone, because purchase orders are non-posting transactions Where can you see a thumbnail sample of each report in quickbooks along with a description of what the report tells you? Ans- Report center #Which accounts are affected when you enter time in quickbooks? Ans- Accounts receivable Which is not shown on the payroll summary report on quickbooks? Ans- information necessary to complete your state unemployment tax form #Which of the following can be memorized in quickbooks? Ans- bill Which of the following is a possible reason for a bank reconciliation discrepancy? AnsThe beginning balance calculated by quickbooks doesn't match last months ending balance Which of the following is a reason to create a new company file? Ans- When a company file has many errors that are beyond repair #Which of the following is not true regarding merging entries? Ans- quickbooks allows you to merge an expense account with an income account Which of the following is true regarding general journal entries? Ans- general journal entries require a good understanding of debits and credits and shouldn't be used by non-accountants Which of the following statements is not true regarding entering and paying bills in quickbooks? Ans- if you use the enter bills window to record a bill, do not use the write checks window or check register to pay the same bill #Which of the following statements is not true regarding single user and multi-user mode? Ans- Only the administrator is allowed in the file when it is in single user mode #Which of the following statements is true regarding how you record a debit card transaction in quickbooks? Ans- Use the write checks window or check register and type debit in the check number field #Which of the following statements is true regarding items? Ans- When you purchase or sell an item, the value of the purchase or sales flows to the account and therefore the financial statements you selected when you set up the item Which of the following statements is true regarding undeposited funds? Ans- it's an account used to record payments before you make a deposit Which of the following statements is true regarding vendor credit memos? Ans- Vendor credit memos reduce what you owe the vendor #Which of the form templates can't be customized in quickbooks? Ans- checks #What is the required field when creating a new Quickbooks company file? Anscompany name Where can you find the option to add specific icons to the home page? Ans- Company preferences #How many Admin users can you have in one Quickbooks file? Ans- 1 #Which User/s have the capability to change their password? Ans- All users Where can you find the preference that will display your icon in color? Ans- Desktop View, My Preferences What functions does the Layout Designer allow you to do? Ans- add text boxes to your template Can you have 2 of the exact same template names in the Templates List? Ans- No #What type of items are set up to handle bounced checks? Ans- Other Charges When reconciling an account, what would make a beginning balance different from the statement's beginning balance? Ans- a prior reconciled entry was modified or delted #Which Payroll Subscription allows you to prepare State and Federal Payroll Tax Forms within QuickBooks? Ans- Enhanced #You suspect that someone has changed a transaction. What report should you run? Ans- Audit trial report **How do you create a memorized group of reports? Ans- open the "Memorized report list" then click "Memorized Report - New group" How do you move columns on a report? Ans- move your cursor over the column heading, and when it becomes a hand, click and drag the column to the desired position What happens if you click "collapse" on a report? Ans- QuickBooks hides subaccounts and only shows parent accounts When should you use a sales receipt in quickbooks? Ans- to record a customer payment at the time of sale #What happens if you double-click on a diamond on a report column? Ans- A. Quickbooks opens a detailed report about just that column B. Quickbooks automatically adjusts the column width to fit the data in the column C. QuickBooks hides the column D. None of the Above (CORRECT ANSWER) **You have customized and then memorized a report. What does QuickBooks save when memorizing a report? Ans- Report header, filters, and columns but