Quickbooks Online Certification Study
Guide
What does a plus account let you do as an overview? correct
answersManage Bills, Track billable time, track inventory
What is Matching Expenses? correct answersUsing money spent for the
business converts into expenses on quickbooks to match the amount
spent.
Self employed and simple start contains how many seats? correct
answersone How many seats are in Plus? correct answersup to 5
users
What is one factor to consider when choosing a QuickBooks Online
Plan? correct answersHow many users and the type of business.
Which two Quickbooks Online plans are ideal for freelancers, entrepreneurs,
and small businesses that only sell one service? correct answersSelf
employed and simple start
How many user seats does the advance plan include? correct answers25
List three benefits of using Quickbooks Online? correct answersBetter shared
access to data with employees and accountants. No software or local data to
manage and access anywhere. Automatic app sync with nightly download.
According the to the QuickBooks software license agreement, what are the
authorized users? correct answersMeans any and all individuals who you
designated or authorized to access and / or modify software data on your
behalf.
What happens if a company allows more that the allotted number of users
on their QBO plan yto access and modify data? correct answersBreaches the
license agreement with legal repercussions. (fine or court order).
When migrating desktop information to the online version of QuickBooks,
the desktop information automatically updates the newest version. True or
False. correct answersTrue
What is the first step in migrating data? correct answersSelect settings and
then import desktop data
What is the second step in migrating data? correct answersSelect online
migration tool then get started.
, What is the third step in migrating data? correct answersElect my files,
temporary files, then elect your file and refresh.
What type of information will not migrate to QuickBooks online? correct
answersMulti currency functions, transaction line item lists of over 350k ,
memorized or port transactions.
How does one reconcile accounts to ensure the data transfer was
successful? correct answersRun a profit and loss report and balance sheet
report for both your desktop and online accounts to make sure they balance.
What type of accounting should one use for the reconciliation
process? correct answersAccrual Accounting
Name three types of user roles that do not count toward the QBO user
limit. correct answersReports only, time tracking only, and take payment
only.
Which user role has complete access to see and do everything with an
account? correct answersAdmin User
Can only one user be assigned the company admin role? correct answersyes
Which user role does not have complete access to an account but can
enter invoices, sales, and expenses, and work with costumer and vendor
lists? correct answersStandard Users
Name two types of user roles that count towards the Quickbooks user
limit. correct answersStandard user and admin user
Which user role allows employees to track their hours? correct
answersTime tracking
What can a standard user do? correct answersInvoices, sales, expenses.
They can work with a customer and vendor lists to manage subscriptions.
Update company info. Also enter time sheet data.
What can take payments only person do? correct answersCan take
payments with the QuickBooks GoPayment app, but can't access the rest of
your QuickBooks company.
What can Reports only person do? correct answersSee all reports except
one that shows payroll or contact info.
What can time tracking person only do? correct answersThey can add
their own time sheets.
Guide
What does a plus account let you do as an overview? correct
answersManage Bills, Track billable time, track inventory
What is Matching Expenses? correct answersUsing money spent for the
business converts into expenses on quickbooks to match the amount
spent.
Self employed and simple start contains how many seats? correct
answersone How many seats are in Plus? correct answersup to 5
users
What is one factor to consider when choosing a QuickBooks Online
Plan? correct answersHow many users and the type of business.
Which two Quickbooks Online plans are ideal for freelancers, entrepreneurs,
and small businesses that only sell one service? correct answersSelf
employed and simple start
How many user seats does the advance plan include? correct answers25
List three benefits of using Quickbooks Online? correct answersBetter shared
access to data with employees and accountants. No software or local data to
manage and access anywhere. Automatic app sync with nightly download.
According the to the QuickBooks software license agreement, what are the
authorized users? correct answersMeans any and all individuals who you
designated or authorized to access and / or modify software data on your
behalf.
What happens if a company allows more that the allotted number of users
on their QBO plan yto access and modify data? correct answersBreaches the
license agreement with legal repercussions. (fine or court order).
When migrating desktop information to the online version of QuickBooks,
the desktop information automatically updates the newest version. True or
False. correct answersTrue
What is the first step in migrating data? correct answersSelect settings and
then import desktop data
What is the second step in migrating data? correct answersSelect online
migration tool then get started.
, What is the third step in migrating data? correct answersElect my files,
temporary files, then elect your file and refresh.
What type of information will not migrate to QuickBooks online? correct
answersMulti currency functions, transaction line item lists of over 350k ,
memorized or port transactions.
How does one reconcile accounts to ensure the data transfer was
successful? correct answersRun a profit and loss report and balance sheet
report for both your desktop and online accounts to make sure they balance.
What type of accounting should one use for the reconciliation
process? correct answersAccrual Accounting
Name three types of user roles that do not count toward the QBO user
limit. correct answersReports only, time tracking only, and take payment
only.
Which user role has complete access to see and do everything with an
account? correct answersAdmin User
Can only one user be assigned the company admin role? correct answersyes
Which user role does not have complete access to an account but can
enter invoices, sales, and expenses, and work with costumer and vendor
lists? correct answersStandard Users
Name two types of user roles that count towards the Quickbooks user
limit. correct answersStandard user and admin user
Which user role allows employees to track their hours? correct
answersTime tracking
What can a standard user do? correct answersInvoices, sales, expenses.
They can work with a customer and vendor lists to manage subscriptions.
Update company info. Also enter time sheet data.
What can take payments only person do? correct answersCan take
payments with the QuickBooks GoPayment app, but can't access the rest of
your QuickBooks company.
What can Reports only person do? correct answersSee all reports except
one that shows payroll or contact info.
What can time tracking person only do? correct answersThey can add
their own time sheets.
