Quick books Certification questions with correct answers

Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? CORRECT ANSWER So that Payroll Liabilities show up in the Pay Taxes & Other Liabilities list in the Payroll Center What are the first two steps to set up payroll in QuickBooks? CORRECT ANSWER 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? CORRECT ANSWER Balance Sheet. Profit and Loss What are the main sections of the Profit & Loss? CORRECT ANSWER Income, Cost of Goods Sold, and Expenses How do you move columns on a report? CORRECT ANSWER 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? CORRECT ANSWER Open the Memorized Report List and then Click Memorized Report > New Group What happens if you double-click a diamond on a report column? CORRECT ANSWER None of the above Which of the following reports answers the question "What transactions make up the current balance I owe each Vendor"? CORRECT ANSWER Vendor Balance Detail You sent QuickBooks a report to Excel and made some changes. How do you import the changes back to QuickBooks? CORRECT ANSWER You can't import changes in Excel back to QuickBooks. You've been hired by a company that started in 1911. They've never used QuickBooks. During the Advanced/Detailed Setup, what "State Date" should you use in the EasyStep Interview? CORRECT ANSWER The date you want to begin tracking t