QUICKBOOKS ONLINE CERTIFICATION TEST STUDY
Can you delete or make inactive something on a list if it has a balance (e.g.
Customer, Vendor, or Stock Product, or Account)? - CORRECT ANSWER-Yes,
QuickBooks will automatically create a transaction to make the balance zero.
While setting up a QuickBooks Online account, you accidentally entered the
wrong company address. How would you fix this error? - CORRECT ANSWER-
Change it in Account and Settings window, which you can access by clicking the
Gear icon and select Account and Settings.
If you use QuickBooks Online Plus, how do you charge a customer for expenses
you incurred on a project? - CORRECT ANSWER-When entering the expense,
enter the customer name and select the Billable checkbox.
Your boss asks you to remove an account from the Chart of Accounts (you don't
use it anymore). How would you do this? - CORRECT ANSWER-You can't delete
an Account from QuickBooks.
Which transaction does not affect the customer's balance? - CORRECT
ANSWER-Estimate
Which transaction CANNOT be made recurring? - CORRECT ANSWER-Deposit
What do you use Terms for in QuickBooks? - CORRECT ANSWER-To determine
when a customer's invoice is due.
Select the statement that's NOT true about using the QuickBooks app on a
mobile device. - CORRECT ANSWER-You can do everything (all QuickBooks
, functionality) on the app that can do in your regular QuickBooks (using a
browser).
Your Accountant is upset that changes are being made to last year's numbers.
How can you stop this from happening? - CORRECT ANSWER-In the Advanced
section of the company settings, set a Closing Date.
Which of the following statements is TRUE regarding products and services? -
CORRECT ANSWER-When you purchase or sell a product, the value of the
purchase or sale flows to the account (and therefore the financial statement)
you selected when you set up the product or service.
Which is NOT a good reason to enter a General Journal Entry? - CORRECT
ANSWER-To avoid using the built-in forms (e.g. checks and invoices)
Put the 2 steps for entering a vendor credit and using it when you pay the bill in
the correct order. - CORRECT ANSWER-1. Click the Global Create Button, Plus
sign, and select Vendor Credit.
2. Click the Global Create Butto, Plus sign and select Pay Bills.
When should you use the Items Details area (bottom of the screenshot below)
on a bill, check or expense? - CORRECT ANSWER-To track sales tax
When you want to send someone a bill for items
When you purchase stock
The Accounts Payable Aging report can help you stay on top of your business
because it lists which of the following? - CORRECT ANSWER-You can view what
you owe and when it's due.
Can you delete or make inactive something on a list if it has a balance (e.g.
Customer, Vendor, or Stock Product, or Account)? - CORRECT ANSWER-Yes,
QuickBooks will automatically create a transaction to make the balance zero.
While setting up a QuickBooks Online account, you accidentally entered the
wrong company address. How would you fix this error? - CORRECT ANSWER-
Change it in Account and Settings window, which you can access by clicking the
Gear icon and select Account and Settings.
If you use QuickBooks Online Plus, how do you charge a customer for expenses
you incurred on a project? - CORRECT ANSWER-When entering the expense,
enter the customer name and select the Billable checkbox.
Your boss asks you to remove an account from the Chart of Accounts (you don't
use it anymore). How would you do this? - CORRECT ANSWER-You can't delete
an Account from QuickBooks.
Which transaction does not affect the customer's balance? - CORRECT
ANSWER-Estimate
Which transaction CANNOT be made recurring? - CORRECT ANSWER-Deposit
What do you use Terms for in QuickBooks? - CORRECT ANSWER-To determine
when a customer's invoice is due.
Select the statement that's NOT true about using the QuickBooks app on a
mobile device. - CORRECT ANSWER-You can do everything (all QuickBooks
, functionality) on the app that can do in your regular QuickBooks (using a
browser).
Your Accountant is upset that changes are being made to last year's numbers.
How can you stop this from happening? - CORRECT ANSWER-In the Advanced
section of the company settings, set a Closing Date.
Which of the following statements is TRUE regarding products and services? -
CORRECT ANSWER-When you purchase or sell a product, the value of the
purchase or sale flows to the account (and therefore the financial statement)
you selected when you set up the product or service.
Which is NOT a good reason to enter a General Journal Entry? - CORRECT
ANSWER-To avoid using the built-in forms (e.g. checks and invoices)
Put the 2 steps for entering a vendor credit and using it when you pay the bill in
the correct order. - CORRECT ANSWER-1. Click the Global Create Button, Plus
sign, and select Vendor Credit.
2. Click the Global Create Butto, Plus sign and select Pay Bills.
When should you use the Items Details area (bottom of the screenshot below)
on a bill, check or expense? - CORRECT ANSWER-To track sales tax
When you want to send someone a bill for items
When you purchase stock
The Accounts Payable Aging report can help you stay on top of your business
because it lists which of the following? - CORRECT ANSWER-You can view what
you owe and when it's due.
