QuickBooks Online Certification Exam- Section 1 Questions & Answers 100% Correct!

What type of business relies on knowing their inventory at all times? - ANSWERSB2B Wholesale businesses *** Managing inventory and avoiding out-of-stock situations is critical to the success of what type of business, as well as understanding cash flow and balance sheets? - ANSWERSRetail and e-commerce businesses What are the three different ways to get information into QuickBooks Online? - ANSWERS1. Convert data in existing QuickBooks Desktop software 2. Import customers, vendors, Chart of Accounts, and products and services lists from Excel 3. Enter all data manually What are the five different subscription plans available on QuickBooks Online? - ANSWERSSelf-Employed, Simple Start, Essentials, Plus, and Advanced What is considered the backbone of accounting software? - ANSWERSThe Chart of Accounts, including all assets, liabilities, income and expenses In wholesale billing, who is billed monthly for the subscription of QBO? - ANSWERSthe Accountant How much does the Accountant user pay for wholesale billing? - ANSWERS50% wholesale discount What is a perk of wholesale billing? - ANSWERSThe Accountant user decides how the clients will be billed. What are three others advantages of wholesale billing? - ANSWERSbundling expenses, easy tracking, and switch anytime How do you add a new client? - ANSWERS1. Go to Client Dashboard in QuickBooks Online Accountant 2. Select Add Client 3. Enter the business info How do existing users add you as you as their Accountant on QBO? - ANSWERS1. Tell the