Quickbooks Certification Questions with Verified Solutions 2024

Quickbooks Certification Questions with Verified Solutions 2024 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 ??? - Answer -Click the Formatting Tab at the top of the form; then click Customize Data LayoutYou need to enter the same transaction each month (for example, an insurance payment). How can you automate this process in Quickbooks? - Answer -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? - Answer -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? - Answer -14,500 What keyboard shortcut allows you to see a total for all four names lists? - Answer -F