Quickbooks Online Certification Study
Guide Questions with Complete
Approved Answers Guaranteed Pass
100%
A Construction company has completed the framing phase on a home they are building and needs to be
paid. Which list can the company use to assign a payment? - Answer -Customer list
According the to the QuickBooks software license agreement, what are the authorized users? -
Answer -Means any and all individuals who you designated or authorized to access and / or modify
software data on your behalf.
Accrual Report - Answer -An accounting method report that reflects all transactions.
All automated workflows automatically send emails to customers. - Answer -False
Asset - Answer -An economic resource that will generate economic benefit and is categorized in
the order of how liquid the asset is: current, fixed, and other.
Automated tasks? - Answer -Scheduled reminders and other things to help manage your business.
Can 2 vendors or customers have the same display name? - Answer -No
Can only one user be assigned the company admin role? - Answer -yes
Can users set a reorder point on inventory, and Quickbooks will notify them when a company needs a
reorder products. - Answer -Yes
can you delete list entries? - Answer -no
Check - Answer -A written order instructing a bank to pay money to a third party.
COGS - Answer -is the direct costs attributed to producing a service or product for sale and directly
links these costs and revenue.
Credit card - Answer -A card issued by a financial company that enables the cardholder to borrow
funds based upon the condition that the cardholder will pay back the borrowed money in addition to
agreed-upon interest charges.
Credit Card - Answer -A card issued by a financial company that enables the cardholder to borrow
funds based upon the condition that the cardholder will pay back the borrowed money in addition to
agreed-upon interest charges.
, Credit memo - Answer -An option to add credit to a customer's account that applies immediately
toward the customer's balance.
Customer - Answer -An entity that purchases products and/or services from a company.
Dimond shores construction has just laid a concrete slab for a customer to build a shed. The company
creates an invoice to bill the customer for labor and materials to complete the job. Which list is used to
input the job expenses and labor on the invoice? - Answer -Products and Services
Employee - Answer -An individual who works for and is paid by a company regularly.
How can users ensure that only certain people can change the books after closing them? -
Answer -By closing the books in advanced settings and changing it to passwords only where it
gives a warning and only accessed by Admin.
How does one reconcile accounts to ensure the data transfer was successful? - Answer -Run a
profit and loss report and balance sheet report for both your desktop and online accounts to make sure
they balance.
How many seats are in Plus? - Answer -up to 5 users
How many user seats does the advance plan include? - Answer -25
Income - Answer -The revenue earned from the sale of goods or services or the money individuals
receive as compensation for their labor.
Invoice - Answer -An itemized bill detailing the goods or services rendered, with the costs.
Is it a good idea to switch back and forth between accounting methods frequently? - Answer -No
Journal Entry - Answer -A way to move money between accounts to make the books balance.
Journal entries should be used as a last resort and with extreme caution.
List three benefits of using Quickbooks Online? - Answer -Better shared access to data with
employees and accountants. No software or local data to manage and access anywhere. Automatic app
sync with nightly download.
Name three examples of class segments for a business. - Answer -they are broken down into
departments, divisions, products, or any other business segment.
Name three types of user roles that do not count toward the QBO user limit. - Answer -Reports
only, time tracking only, and take payment only.
Name two types of user roles that count towards the Quickbooks user limit. - Answer -Standard
user and admin user
Product - Answer -A tangible item offered for sale.
Sale - Answer -The exchange of a service or good for money.
Guide Questions with Complete
Approved Answers Guaranteed Pass
100%
A Construction company has completed the framing phase on a home they are building and needs to be
paid. Which list can the company use to assign a payment? - Answer -Customer list
According the to the QuickBooks software license agreement, what are the authorized users? -
Answer -Means any and all individuals who you designated or authorized to access and / or modify
software data on your behalf.
Accrual Report - Answer -An accounting method report that reflects all transactions.
All automated workflows automatically send emails to customers. - Answer -False
Asset - Answer -An economic resource that will generate economic benefit and is categorized in
the order of how liquid the asset is: current, fixed, and other.
Automated tasks? - Answer -Scheduled reminders and other things to help manage your business.
Can 2 vendors or customers have the same display name? - Answer -No
Can only one user be assigned the company admin role? - Answer -yes
Can users set a reorder point on inventory, and Quickbooks will notify them when a company needs a
reorder products. - Answer -Yes
can you delete list entries? - Answer -no
Check - Answer -A written order instructing a bank to pay money to a third party.
COGS - Answer -is the direct costs attributed to producing a service or product for sale and directly
links these costs and revenue.
Credit card - Answer -A card issued by a financial company that enables the cardholder to borrow
funds based upon the condition that the cardholder will pay back the borrowed money in addition to
agreed-upon interest charges.
Credit Card - Answer -A card issued by a financial company that enables the cardholder to borrow
funds based upon the condition that the cardholder will pay back the borrowed money in addition to
agreed-upon interest charges.
, Credit memo - Answer -An option to add credit to a customer's account that applies immediately
toward the customer's balance.
Customer - Answer -An entity that purchases products and/or services from a company.
Dimond shores construction has just laid a concrete slab for a customer to build a shed. The company
creates an invoice to bill the customer for labor and materials to complete the job. Which list is used to
input the job expenses and labor on the invoice? - Answer -Products and Services
Employee - Answer -An individual who works for and is paid by a company regularly.
How can users ensure that only certain people can change the books after closing them? -
Answer -By closing the books in advanced settings and changing it to passwords only where it
gives a warning and only accessed by Admin.
How does one reconcile accounts to ensure the data transfer was successful? - Answer -Run a
profit and loss report and balance sheet report for both your desktop and online accounts to make sure
they balance.
How many seats are in Plus? - Answer -up to 5 users
How many user seats does the advance plan include? - Answer -25
Income - Answer -The revenue earned from the sale of goods or services or the money individuals
receive as compensation for their labor.
Invoice - Answer -An itemized bill detailing the goods or services rendered, with the costs.
Is it a good idea to switch back and forth between accounting methods frequently? - Answer -No
Journal Entry - Answer -A way to move money between accounts to make the books balance.
Journal entries should be used as a last resort and with extreme caution.
List three benefits of using Quickbooks Online? - Answer -Better shared access to data with
employees and accountants. No software or local data to manage and access anywhere. Automatic app
sync with nightly download.
Name three examples of class segments for a business. - Answer -they are broken down into
departments, divisions, products, or any other business segment.
Name three types of user roles that do not count toward the QBO user limit. - Answer -Reports
only, time tracking only, and take payment only.
Name two types of user roles that count towards the Quickbooks user limit. - Answer -Standard
user and admin user
Product - Answer -A tangible item offered for sale.
Sale - Answer -The exchange of a service or good for money.
