QUICK-BOOKS ONLINE CERTIFICATION
EXAM QUESTIONS WITH COMPLETE
ANSWERS
What are the steps to turn on warnings for duplicate check and bill numbers in
QuickBooks
Online Company? - Answer-First of all, choose the Gear icon.
Click on the Account and Settings option under your Company.
Select the Advanced tab.
Now, select the option to warn in the other preferences section.
Finally, click on the Save option.
If your client wants to modify the business address of the company in QBO, what steps
he
needs to perform? Complete the following steps.
Sign in to the QuickBooks Online Account.
________________
The client dashboard will appear.
________________
Choose the Account and Settings option.
Click on the Pencil icon under the Address section. - Answer-Step 2: Choose the client
company from the Client Switcher drop-down.
Step 4: Select the Gear icon.
Why is setting a closing date and a password strongly recommended? - Answer-
Because it automatically sends an email to the accountant.
Are you allowed to enter statement charges one by one as you enter customer or
vendor
services? - Answer-No, you can't enter statement charges in turn like entering customer
or vendor services.
Which one of the following is a feature of QuickBooks Online Payroll?
The client submits payroll tax payments and forms
Exporting to QuickBooks Desktop for Win Mac
Run from a different website with a central client list.
Paying employees by print paychecks or direct deposit - Answer-C. Run from a
different website with a central client list.
If you see two or more similar names in the vendor center that refer to the same vendor,
what
will you do to clean up the Vendors list? - Answer-merge similar vendor names.
, Which account register needs to be opened to view the cleared checks? - Answer-
Checking Account.
What is the difference between the Balance Sheet Report and Profit and Loss Report? -
Answer-The balance sheet reports indicate the values of Assets and Liabilities at Equity
as of a
particular date. Whereas, the Profit and Loss Reports show activities (Income and
Expenses to arrive
at Net Income for a particular time).
If your client wants to transfer $600 from the checking account into a savings accounts
to cover
tax liabilities, from where he should imitate the process? - Answer-He should navigate
to the Quick Create option and choose the Transfer link.
Write down the difference between Accounts and Items? - Answer-Accounts: In which
financial transactions are prepared into reports like profit & loss
reports and balance sheets. A few accounts carry balances like accounts payable,
accounts receivable, income and expenses, etc.
Items: They are the products and services you trade and use on transactions like
purchase orders and invoices.
What is the difference between writing a check and entering a bill? - Answer-Writing a
check indicates recording an expense simultaneously it is being paid. There will be no
time gap between the expense and the payment date. Whereas, entering a bill is to
incur an
expense that will be paid in the future.
What is the undeposited funds account? - Answer-temporary account that is used when
you have received a payment from a client but has not been deposited in the bank.
How to get QuickBooks financial reports to excel? - Answer-First of all, launch any
report and choose the Excel option.
Create a new worksheet and you must have Excel on your PC.
Start exporting to excel and look for data, statistical analysis, and creating graphs.
Which subscription includes online banking, integration with a wide range of apps, and
online
access feature? - Answer-All QuickBooks Online subscription includes the feature of
online banking, integration with a
wide range of apps, and online access.
How to reclassify transactions in QuickBooks Online? - Answer-In the Account Toolbox
option, you need to choose reclassify transactions to clear out
unspecified expense accounts.
EXAM QUESTIONS WITH COMPLETE
ANSWERS
What are the steps to turn on warnings for duplicate check and bill numbers in
QuickBooks
Online Company? - Answer-First of all, choose the Gear icon.
Click on the Account and Settings option under your Company.
Select the Advanced tab.
Now, select the option to warn in the other preferences section.
Finally, click on the Save option.
If your client wants to modify the business address of the company in QBO, what steps
he
needs to perform? Complete the following steps.
Sign in to the QuickBooks Online Account.
________________
The client dashboard will appear.
________________
Choose the Account and Settings option.
Click on the Pencil icon under the Address section. - Answer-Step 2: Choose the client
company from the Client Switcher drop-down.
Step 4: Select the Gear icon.
Why is setting a closing date and a password strongly recommended? - Answer-
Because it automatically sends an email to the accountant.
Are you allowed to enter statement charges one by one as you enter customer or
vendor
services? - Answer-No, you can't enter statement charges in turn like entering customer
or vendor services.
Which one of the following is a feature of QuickBooks Online Payroll?
The client submits payroll tax payments and forms
Exporting to QuickBooks Desktop for Win Mac
Run from a different website with a central client list.
Paying employees by print paychecks or direct deposit - Answer-C. Run from a
different website with a central client list.
If you see two or more similar names in the vendor center that refer to the same vendor,
what
will you do to clean up the Vendors list? - Answer-merge similar vendor names.
, Which account register needs to be opened to view the cleared checks? - Answer-
Checking Account.
What is the difference between the Balance Sheet Report and Profit and Loss Report? -
Answer-The balance sheet reports indicate the values of Assets and Liabilities at Equity
as of a
particular date. Whereas, the Profit and Loss Reports show activities (Income and
Expenses to arrive
at Net Income for a particular time).
If your client wants to transfer $600 from the checking account into a savings accounts
to cover
tax liabilities, from where he should imitate the process? - Answer-He should navigate
to the Quick Create option and choose the Transfer link.
Write down the difference between Accounts and Items? - Answer-Accounts: In which
financial transactions are prepared into reports like profit & loss
reports and balance sheets. A few accounts carry balances like accounts payable,
accounts receivable, income and expenses, etc.
Items: They are the products and services you trade and use on transactions like
purchase orders and invoices.
What is the difference between writing a check and entering a bill? - Answer-Writing a
check indicates recording an expense simultaneously it is being paid. There will be no
time gap between the expense and the payment date. Whereas, entering a bill is to
incur an
expense that will be paid in the future.
What is the undeposited funds account? - Answer-temporary account that is used when
you have received a payment from a client but has not been deposited in the bank.
How to get QuickBooks financial reports to excel? - Answer-First of all, launch any
report and choose the Excel option.
Create a new worksheet and you must have Excel on your PC.
Start exporting to excel and look for data, statistical analysis, and creating graphs.
Which subscription includes online banking, integration with a wide range of apps, and
online
access feature? - Answer-All QuickBooks Online subscription includes the feature of
online banking, integration with a
wide range of apps, and online access.
How to reclassify transactions in QuickBooks Online? - Answer-In the Account Toolbox
option, you need to choose reclassify transactions to clear out
unspecified expense accounts.
