Quickbooks Online Certification Questions and Correct Answers

What lists can be imported from Excel spreadsheets, when setting up a QuickBooks online company? - Chart of accounts, Customers, Products and Services, and Vendors Which of the following is TRUE regarding your chart of accounts, when setting up a new QuickBooks company? - It is possible to add more accounts after starting a new company What company information does QuickBooks ask for when you first create a new QuickBooks online account? - The industry of the business Where is the Company Settings page found in QuickBooks online? - Click the Company Menu at the top right and select Company Settings What can you do to filter the home page so that it does not display sensitive financial information? - Turn on "Private Mode" from the home page Which of the following is TRUE regarding General Journal Entries? - General Journal Entries require a good understanding of debits and credits and a great deal of care should be taken by non accountants when entering them Which of the following statements about users is TRUE? - In addition to Regular or Custom users, you can also set up Reports Only, and Time Tracking only users When importing information from QuickBooks Desktop to QuickBooks online you: - Have to import everything, and anything that is in your QuickBooks Online company during the import will be overwritten Which of the following is TRUE regarding merging entries in lists? - You can merge an income account with another income account You just bought something from one of your customers and want to set them up as a vendor. What steps should you take to do that? - Open the Vendors list and create a new vendor. In the Display Name as Field, enter the customer's name, but add something else to the name to make it unique How do you delete a particular product that you no longer sell? - Click the Company Menu (gear icon) then click Products and Services. Select the product from the list and click delete What does QuickBooks do when you make a customer with a balance, inactive? - QuickBooks creates a Credit Memo and applies it to any open invoices which makes the balance zero