QuickBooks Online (2026 Updated) – Complete Training, Practice Exams &
Certification Study Guide
Q: Direct billing option means? - correct answer ✔✔A: The client pays intuit directly for the QB
subscriptions
Q: There are four types of products and services - correct answer ✔✔A: Inventory, non-
inventory, service, and bundle
Q: You want to pass on some of your costs directly to customers in Quickbooks Online. You are
able to assign a customer to a cost, but you cannot mark it billable. You need to make costs
billable in Quickbooks Online. What should you do? - correct answer ✔✔A: In the account and
settings area on the expenses tab, toggle on Make expenses and items billable
Q: Which two statements describe the difference between recording expenses on checks and as
credit card expenses? - correct answer ✔✔A: A check debits the expense account and credits
Accounts Payable
Q: On your bank's website, you transfer $5000 from your savings account to you checking
account to pay bills. You are processing bank feed transactions. You need to record this
transaction properly. Which two actions should you perform? - correct answer ✔✔A: Match the
saving account transactions to the checking account transactions
A: Mark the checking account transactions as a Transfer
Q: Track jobs and income?
Q: Track transactions by city or region?
Q: Track transactions by departments in a company? - correct answer ✔✔A: Projects
A: Locations
A: Classes
, Q: You pay a bill by using a check. You record the transaction in Quickbooks Online. The check is
damaged before the vendor can deposit it. You write a new check. What should you do with the
original check in Quickbooks Online? - correct answer ✔✔A: Void the check
Q: In Quickbooks online,what is the difference between voiding and deleting a check? - correct
answer ✔✔A: Voiding a check keeps it in reports but reduces its value to zero.
Deleting a check removes it from reports other than the Audit Log.
Q: What is a reason for setting up products or services in Quickbooks Online? - correct answer
✔✔A: To have standard terminology for customers on sale forms
Q: You are sending an invoice to a customer. You need to set up the payment terms. What does
the payment term of "Net 15" mean? - correct answer ✔✔A: The customer must pay the
invoice in full within 15 days of the invoice date.
Q: What are three recurring transaction types in Quickbooks Online? Note: You will receive
partial credit for each correct answer. - correct answer ✔✔A: Scheduled, reminder, and
unscheduled
Q: True or False Cash Flow Statement: It shows a business assets, liabilities, and equity?
Q: It summarizes the cash flowing in and out of a business?
Q: It is divided into three sections, Operations, Investment, and Financing?
Q: It is another name for an income Statement for companies that use accrual accounting? -
correct answer ✔✔A: False
A: True
A: True
A: False
Certification Study Guide
Q: Direct billing option means? - correct answer ✔✔A: The client pays intuit directly for the QB
subscriptions
Q: There are four types of products and services - correct answer ✔✔A: Inventory, non-
inventory, service, and bundle
Q: You want to pass on some of your costs directly to customers in Quickbooks Online. You are
able to assign a customer to a cost, but you cannot mark it billable. You need to make costs
billable in Quickbooks Online. What should you do? - correct answer ✔✔A: In the account and
settings area on the expenses tab, toggle on Make expenses and items billable
Q: Which two statements describe the difference between recording expenses on checks and as
credit card expenses? - correct answer ✔✔A: A check debits the expense account and credits
Accounts Payable
Q: On your bank's website, you transfer $5000 from your savings account to you checking
account to pay bills. You are processing bank feed transactions. You need to record this
transaction properly. Which two actions should you perform? - correct answer ✔✔A: Match the
saving account transactions to the checking account transactions
A: Mark the checking account transactions as a Transfer
Q: Track jobs and income?
Q: Track transactions by city or region?
Q: Track transactions by departments in a company? - correct answer ✔✔A: Projects
A: Locations
A: Classes
, Q: You pay a bill by using a check. You record the transaction in Quickbooks Online. The check is
damaged before the vendor can deposit it. You write a new check. What should you do with the
original check in Quickbooks Online? - correct answer ✔✔A: Void the check
Q: In Quickbooks online,what is the difference between voiding and deleting a check? - correct
answer ✔✔A: Voiding a check keeps it in reports but reduces its value to zero.
Deleting a check removes it from reports other than the Audit Log.
Q: What is a reason for setting up products or services in Quickbooks Online? - correct answer
✔✔A: To have standard terminology for customers on sale forms
Q: You are sending an invoice to a customer. You need to set up the payment terms. What does
the payment term of "Net 15" mean? - correct answer ✔✔A: The customer must pay the
invoice in full within 15 days of the invoice date.
Q: What are three recurring transaction types in Quickbooks Online? Note: You will receive
partial credit for each correct answer. - correct answer ✔✔A: Scheduled, reminder, and
unscheduled
Q: True or False Cash Flow Statement: It shows a business assets, liabilities, and equity?
Q: It summarizes the cash flowing in and out of a business?
Q: It is divided into three sections, Operations, Investment, and Financing?
Q: It is another name for an income Statement for companies that use accrual accounting? -
correct answer ✔✔A: False
A: True
A: True
A: False
