Quickbooks Online Certification Exam Review (2024/ 2025) Questions and Verified Answers| Grade A| 100% Correct

Quickbooks Online Certification Exam Review (2024/ 2025) Questions and Verified Answers| Grade A| 100% Correct Q: The Accounts Payable Aging report can help you stay on top of your business because it lists which of the following? Answer: You can view what you owe and when it's due. Q: What information does QuickBooks NOT ask/need when you create a new QuickBooks Online account for a company? Answer: The owner's name Q: Which section of the Balance Sheet shows your Accounts Receivable balance? Answer: Assets Q: Your company would like to sell their products online. They ask you to look for an app that makes it easy for customers to buy online. However, they also want you to be efficient. They do NOT want you to have to manually enter these sales into QuinckBooks. They want the sales to automatically update QuickBooks. What's a good place to start looking for an app that can do this? Answer: The Apps tab in QuickBooks. Q: Your Employer wants to see profit in department A separate from department B. What is the best way to set this up? Answer: Turn on Classes and set up each department as its own class. Q: You have a customer who hires you to work on several projects. How do you keep the sales and expenses for each project separate so you run reports to see how profitable each project is? Answer: Select the "Track separately" checkbox on the invoices for each job. Q: Which of the following statements about Users is TRUE? Answer: You can have as many Reports Only and Time Tracking Only users as you want. Q: Which of the following could explain why a Profit and Loss shows a profit, but the business owner does not have any money in the bank? Answer: The profit and loss was run on the Accrual Basis instead of the Cash Basis Q: To speed up the set up process you can import certain lists into QuickBooks. Which of the following CAN be imported? Answer: Chart of Accounts, Products and Services, Customers and Vendors Q: How do you hide all subaccounts on a report? Answer: Click the Collapse button. Q: You entered a check in QuickBooks to record a purchase of office supplies. Later, you realize this was a credit card purchase. How do you handle this? Answer: Change the Check number to CREDIT Q: You paid an insurance premium online with an electronic fund transfer (EFT). How would you record this transaction in QuickBooks? Answer: Click the Global Create button, plus sign, and select Expense. Fill out the expense and create/select EFT as the payment method. Save the transaction.