QuickBooks Certification Exam :Questions & Answers: Updated Guide Solution

Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? (Ans- 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? (Ans- 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? (Ans- Balance Sheet. Profit and Loss What are the main sections of the Profit & Loss? (Ans- Income, Cost of Goods Sold, and Expenses How do you move columns on a report? (Ans- 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? (Ans- Open the Memorized Report List and then Click Memorized Report New Group What happens if you double-click a diamond on a report column? (Ans- None of the above Which of the following reports answers the question "What transactions make up the current balance I owe each Vendor"? (Ans- Vendor Balance De