Quickbooks Online Certification Questions and Answers 2023

Quickbooks Online Certification Questions and Answers 2023 One of the major advantages of all subscription levels of QuickBooks Online have over the desktop version is: All the data is hosted, backed up and secured by Intuit's servers Your client uses QuickBooks Online Simple Start. How many accountant users can your client invite? 2 Your client is moving out of state and wants you to do the monthly accounting in their data file. What would be the best reason to recommend converting to QuickBooks Online? Online access to client data anytime, anywhere How many regular (not accountant Users) can access a QuickBooks Essential subscription at one time? 3 Under which settings tab do you enable inventory tracking? Sales What type of user can only be added to a QuickBooks Online Plus Company? Reports-only user Which of the following cannot be imported using the import data tool in QuickBooks Online? Employees Which of the following steps are needed to track inventory? Sign up for Quickbooks Online Plus: Go to Account and Settings>Sales>Products and services>Track inventory quantity on hand Which of the following settings is found in the Expense setting screen of the Company Settings? Specify custom fields for Purchase Orders A non-profit client wants to change the heading for her customers to Donors. Where should she go in QuickBooks Online to change this setting? Gear Icon>Account Settings>Advanced>Other preferences>Customer label For how many consecutive days can you re-import QuickBooks Desktop data into QuickBooks Online form the date the QuickBooks Online Company is created? 180 Which of the following lists can not be accessed from the Left Navigation Pane? Classes Your client requires access to QuickBooks Online for himself, as well as his bookkeeper and his accountant. In addition, he will need to add payroll to his subscription level. Which of the following is the least expensive QuickBooks Online subscription he can purchase that will satisfy these requirements? Simple Start Where can you add a new Customer to your Customer List in QuickBooks Online? The Customer Center > New Customer Which of the following best describes the functionality of the top navigation bar in QuickBooks Online? A place to easily access tools for entering transactions The QuickBooks Online App provides users with a more 'desktop like' experience. What feature does this app have that QuickBooks desktop does not? Ability to tile windows across multiple monitors Where can you find the Transfer function of QuickBooks Online? Quick Create How do you get multiple screens to display over multiple display monitors when working in the QuickBooks Online Apps? Windows menu > Menu items open new windows The Sales Center is found in the _________________________ in QuickBooks Online. Left Navigation Pane Which is not a benefit of using the QuickBooks Online Apps for Mac and Windows? You do not have to be connected to the internet to open your QBO Company Choose the statement that best describes QuickBooks Online's functionality related to sales forms and products and services: Charges to a customer on a sales form post to the account mapped to the product / service item's income account field How do you create a recurring invoice in QuickBooks Online? Start from existing transaction and create a template by clicking Make Recurring Which of the following are benefits of using the Online Invoicing Portal? Clients can correspond with their customers regarding invoice details What is the difference between an Invoice and a Sales Receipt? A Sales Receipt is meant to record an immediate acceptance of payment while an Invoice represents an expected payment in the future What are posting transactions related to sales? Invoice Receive P ayment Credit m emo Sales r eceipt Refund What are non-posting transactions related to sales? Estimate Delayed charge Delayed credit When you record a charge to a customer on a sales form, what account does the line item charge post to? The account mapped in the income account field in the sales information section of the product / service item If you do not use sales form or a product/service item, what account does the item charge post to? The income account you selected from the dropdown field How is a Credit Memo different from a Refund Receipt? A Credit Memo affects Accounts Receivable Which of the following is not a feature of Online Invoices? Shows total balance for customer for all open invoices Which of the following can be used for drafting bank accounts (ACH payment) in QuickBooks Online? QuickBooks Payments' Pay Now button on an Online Invoice The Bill screen is best used for which of the following tasks? To record bills to be paid later You have received a shoebox full of receipts from a customer to enter into QuickBooks Online. They are not sorted in any way, and they include check stubs from different bank accounts, receipts for cash expenditures, and credit card slips from different cards. Of the following options, which is the most efficient way to get them entered into QuickBooks Online? Use the Expense function and specify the bank, cash or credit card account in each transaction What is a benefit of recording expenditures on bills using product / service items instead of accounts? Use of Purchase reports Which of the following transactions can be recorded using the Expense feature? Credit Card Expense Which transactions are non-posting transaction when it comes to purchases? Purchase Order Billable Expenses Which transactions are posting transactions when it comes to purchases? Expense Cash Expense Credit Card Expense Check Bill Bill Payment(Check or Credit Card) Vendor Credit Credit card sales Sales tax payment Which of the below is NOT an advantage of recording a transaction as a purchase versus an expense? Only transactions posted as a purchase record activity directly to the general ledger and can be found on a Financial Report, such as the Profit & Loss report Which of the following is an important distinction between QuickBooks Online Payroll and Intuit Online Payroll for Accounting Professionals? Payroll is run inside QuickBooks Online with QuickBooks Online Payroll and outside of QuickBooks Online in Intuit Online Payroll for Accounting Professionals Where do you enter time tracking activities in QuickBooks Online? Quick Create