Quickbooks Certification | 80 Questions with 100% Correct Answers | Verified

Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? - ANS - So that Payroll Liabilities show yp in the Pay Taxes & Other Liabilities list in the Payroll Center What are the first two steps to set up payroll in Quickbooks? - ANS - 1) Sign up for a payroll services; and 2) complete the Payroll Setup Interview What are the 2 main Financial Statements you can run from the "Company and Financial" category of reports? - ANS - Balance Sheet. Profit and Loss What are the main sections of the Profit & Loss? - ANS - Income, Cost of Goods Sold, and Expenses How do you move columns on a report? - ANS - Move your cursors over the column heading, and when it becomes a hand, click and drag the column to the desired position. How do you create a memorized group of reports? - ANS - Open the Memorized Report List and then Click Memorized Report New Group What happens if you double-click a diamond on a report column? - ANS - None of the above Which of the following reports answers the question "What transactions make up the current balance I owe each Vendor"? - ANS - Vendor Balance Detail You sent Quickbooks a report to Excel and made some changes. How do you import the changes back to Quickbooks? - ANS - You can't import changes in Excel back to Quickbooks.