QuickBooks Online Certification Exam Questions and Answers 2026/2027
OBJECTIVE ASSESSMENT - EXAM
QuickBooks Online Certification
Exam Questions and Answers
2026/2027
A+ Verified Edition: 2026/2027 Passing Score: 75%
COVER PAGE - 1
,SECTIONS COVERED
• Section 1: QuickBooks Online Setup & Company Settings
• Section 2: Banking & Transactions
• Section 3: Sales, Invoicing & Customers
• Section 4: Expenses, Bills & Vendors
• Section 5: Payroll, Reporting & Advanced Features
This examination assesses practical knowledge of QuickBooks Online navigation, bookkeeping workflows, sales
and invoicing, expense management, payroll processing, and financial reporting. Candidates must demonstrate the
ability to apply QuickBooks Online features to real-world business scenarios, analyze transactions, and evaluate
accounting best practices. Each question is worth 1 mark. The passing score is 75%.
INSTRUCTIONS
1. Read each scenario carefully before selecting your answer.
2. Choose the best answer from options A, B, C, and D.
3. All questions carry equal weight.
4. There is no penalty for incorrect answers.
5. Mark your responses clearly.
Section 1: QuickBooks Online Setup & Company Settings
Question 1
A small business owner just subscribed to QuickBooks Online Plus and needs to configure the chart of
accounts to match their retail operations. They want to track income by product line and separate cost of
goods sold from operating expenses.
A. Import a custom chart of accounts via spreadsheet before recording any transactions
B. Use the default chart of accounts and rename accounts to reflect product line income and COGS categories
C. Create location classes for each product line and assign all transactions to a single income account
D. Set up a separate QuickBooks company file for each product line to isolate financial data
Correct Answer: B
Rationale:
Renaming and customizing the default chart of accounts (B) provides the necessary structure without unnecessary complexity.
Importing a custom chart (A) is possible but not required before recording transactions. Location classes (C) track profitability but
do not replace a proper chart of accounts. Separate company files (D) create data fragmentation and are impractical for a single
business.
QuickBooks Online Certification Exam Questions and Answers 2026/2027 Page 2
, Question 2
A bookkeeper is setting up a new client in QuickBooks Online and notices the fiscal year end does not
align with the calendar year. The client operates on an April 1 to March 31 fiscal cycle and needs reporting
to reflect this period.
A. Navigate to Account and Settings > Advanced > Accounting and change the fiscal year start month to April
B. Create custom date-range reports each time and manually adjust the period for all financial statements
C. Set the company time zone to a region where April is the standard fiscal year start month
D. Export all data to Excel and reformat the dates to match the April fiscal year before importing back
Correct Answer: A
Rationale:
Changing the fiscal year in Account and Settings (A) ensures all built-in reports automatically reflect the correct period. Manual
custom reports (B) are inefficient and error-prone. Time zone settings (C) do not affect fiscal year configuration. Exporting to
Excel (D) is unnecessary when QuickBooks supports fiscal year customization natively.
Question 3
A consulting firm needs to track billable hours by project and client in QuickBooks Online. The firm wants
to generate profitability reports showing revenue, direct labor costs, and project margins for each
engagement.
A. Enable Projects in Account and Settings > Advanced > Projects and assign time entries to specific projects
B. Create a separate sub-customer for each project and run customer reports to estimate profitability
C. Use the class tracking feature to label each transaction with a project code and run class reports
D. Set up a different income account for every client project to isolate revenue in the profit and loss report
Correct Answer: A
Rationale:
The Projects feature (A) is designed specifically for project-based profitability tracking, including time costing and margin
analysis. Sub-customers (B) lack built-in project cost allocation. Class tracking (C) works for departmental segmentation but is
less robust than Projects for engagement-level profitability. Separate income accounts (D) create an unwieldy chart of accounts
without tracking labor costs.
Question 4
A nonprofit organization is transitioning from spreadsheets to QuickBooks Online. They need to track
restricted and unrestricted net assets separately to comply with fund accounting standards and donor
reporting requirements.
A. Enable class tracking and create classes for restricted and unrestricted funds, then tag all transactions
accordingly
B. Create separate equity accounts for restricted net assets and unrestricted net assets in the chart of accounts
C. Set up two separate QuickBooks Online subscriptions, one for restricted funds and one for unrestricted funds
D. Use the customer field to label each transaction as restricted or unrestricted and filter reports by customer
Correct Answer: B
Rationale:
Creating separate equity accounts for restricted and unrestricted net assets (B) aligns with nonprofit accounting standards and
produces compliant financial statements. Class tracking (A) is useful for program segmentation but does not properly present net
asset classifications on the balance sheet. Separate subscriptions (C) are unnecessary and create reconciliation challenges.
Customer fields
QuickBooks Online(D) are intended
Certification Examfor donor tracking,
Questions not fund
and Answers classification.
2026/2027 Page 3
OBJECTIVE ASSESSMENT - EXAM
QuickBooks Online Certification
Exam Questions and Answers
2026/2027
A+ Verified Edition: 2026/2027 Passing Score: 75%
COVER PAGE - 1
,SECTIONS COVERED
• Section 1: QuickBooks Online Setup & Company Settings
• Section 2: Banking & Transactions
• Section 3: Sales, Invoicing & Customers
• Section 4: Expenses, Bills & Vendors
• Section 5: Payroll, Reporting & Advanced Features
This examination assesses practical knowledge of QuickBooks Online navigation, bookkeeping workflows, sales
and invoicing, expense management, payroll processing, and financial reporting. Candidates must demonstrate the
ability to apply QuickBooks Online features to real-world business scenarios, analyze transactions, and evaluate
accounting best practices. Each question is worth 1 mark. The passing score is 75%.
INSTRUCTIONS
1. Read each scenario carefully before selecting your answer.
2. Choose the best answer from options A, B, C, and D.
3. All questions carry equal weight.
4. There is no penalty for incorrect answers.
5. Mark your responses clearly.
Section 1: QuickBooks Online Setup & Company Settings
Question 1
A small business owner just subscribed to QuickBooks Online Plus and needs to configure the chart of
accounts to match their retail operations. They want to track income by product line and separate cost of
goods sold from operating expenses.
A. Import a custom chart of accounts via spreadsheet before recording any transactions
B. Use the default chart of accounts and rename accounts to reflect product line income and COGS categories
C. Create location classes for each product line and assign all transactions to a single income account
D. Set up a separate QuickBooks company file for each product line to isolate financial data
Correct Answer: B
Rationale:
Renaming and customizing the default chart of accounts (B) provides the necessary structure without unnecessary complexity.
Importing a custom chart (A) is possible but not required before recording transactions. Location classes (C) track profitability but
do not replace a proper chart of accounts. Separate company files (D) create data fragmentation and are impractical for a single
business.
QuickBooks Online Certification Exam Questions and Answers 2026/2027 Page 2
, Question 2
A bookkeeper is setting up a new client in QuickBooks Online and notices the fiscal year end does not
align with the calendar year. The client operates on an April 1 to March 31 fiscal cycle and needs reporting
to reflect this period.
A. Navigate to Account and Settings > Advanced > Accounting and change the fiscal year start month to April
B. Create custom date-range reports each time and manually adjust the period for all financial statements
C. Set the company time zone to a region where April is the standard fiscal year start month
D. Export all data to Excel and reformat the dates to match the April fiscal year before importing back
Correct Answer: A
Rationale:
Changing the fiscal year in Account and Settings (A) ensures all built-in reports automatically reflect the correct period. Manual
custom reports (B) are inefficient and error-prone. Time zone settings (C) do not affect fiscal year configuration. Exporting to
Excel (D) is unnecessary when QuickBooks supports fiscal year customization natively.
Question 3
A consulting firm needs to track billable hours by project and client in QuickBooks Online. The firm wants
to generate profitability reports showing revenue, direct labor costs, and project margins for each
engagement.
A. Enable Projects in Account and Settings > Advanced > Projects and assign time entries to specific projects
B. Create a separate sub-customer for each project and run customer reports to estimate profitability
C. Use the class tracking feature to label each transaction with a project code and run class reports
D. Set up a different income account for every client project to isolate revenue in the profit and loss report
Correct Answer: A
Rationale:
The Projects feature (A) is designed specifically for project-based profitability tracking, including time costing and margin
analysis. Sub-customers (B) lack built-in project cost allocation. Class tracking (C) works for departmental segmentation but is
less robust than Projects for engagement-level profitability. Separate income accounts (D) create an unwieldy chart of accounts
without tracking labor costs.
Question 4
A nonprofit organization is transitioning from spreadsheets to QuickBooks Online. They need to track
restricted and unrestricted net assets separately to comply with fund accounting standards and donor
reporting requirements.
A. Enable class tracking and create classes for restricted and unrestricted funds, then tag all transactions
accordingly
B. Create separate equity accounts for restricted net assets and unrestricted net assets in the chart of accounts
C. Set up two separate QuickBooks Online subscriptions, one for restricted funds and one for unrestricted funds
D. Use the customer field to label each transaction as restricted or unrestricted and filter reports by customer
Correct Answer: B
Rationale:
Creating separate equity accounts for restricted and unrestricted net assets (B) aligns with nonprofit accounting standards and
produces compliant financial statements. Class tracking (A) is useful for program segmentation but does not properly present net
asset classifications on the balance sheet. Separate subscriptions (C) are unnecessary and create reconciliation challenges.
Customer fields
QuickBooks Online(D) are intended
Certification Examfor donor tracking,
Questions not fund
and Answers classification.
2026/2027 Page 3
