QuickBooks Certification Exam Study Guide (Latest 2023 – 2024) With
Complete Solution
Why would you hide or collapse sub accounts on a report? - To temporarily hide
unnecessary detail and hide parent accounts
What should you do after you click save & close on a customer credit memo? - Choose
between retained as an available credit, give a refund or apply to an invoice
Which of the following CAN be memorized in quickbooks? - check
Which is NOT shown on the payroll summary report on quickbooks? - information
necessary to complete your state unemployment tax form
The bank notified you that a customer's check you deposited has bounced. The customer
did not have sufficient funds to cover the check. What should you do? - Record a
transaction to show the customer owes you the money and that the checking balance
decreased by that same amount
Suppose you always want all reports to show a specific size and color,how do you set
standard preference in quickbooks so you don't have to customize each report? - Click the
edit menu and select preferences then click the reports and graphs group to set
preferences
Suppose you want to restrict which users can access customer credit card numbers. How
do you do this? - Give the user access to sales and accounts receivable but do not check the
complete credit card numbers
Which of the following is a possible reason for a bank reconciliation discrepancy? - The
beginning balance calculated by quickbooks does not match last months ending balance
which of the following statements is TRUE regarding Undeposited funds? - It is an account
used to record payments before you make a deposit
Which accounts are affected when you enter Time in quickbooks? - Accounts receivable
Workers who require a W2 tax form at the end of the year should be added to which of the
following lists? - Employee
If you have customized report that you use each month, which feature lets you run the -
Memorize Report
What is the primary reason for setting a closing date in Quickbooks? - To restrict users
from deleting, editing or adding transactions to last year
, Your new employee earned an annual salary of $40,000. How do you enter this into
quickbooks? - Enter 40,000 in the payroll info window
What steps must you complete to use the payroll center to pay payroll liabilities - set
deposit frequencies
Name the section of the balance sheet - Assets, Liabilities, Equity
When you create a new company file, quickbooks asks for your start date. What is the best
definition of the start date in quickbooks? - The day you chose to start recording the
finacial records in quickbooks
Which of the following statements is NOT true regarding entering and paying bills in
quickbooks? - If you use the enter bills window to record a bill, do not use the write checks
window or check register to pay that same bill
How do you use a different forms template when creating a new transaction? (i.e. Invoice) -
Open the form, click the templates drop down list and select the appropriate form
How do you change the report basis, accrual vs. cash for just one report? - Click the modify
report button on the report and then choose accrual or cash on the display pad
How would you track customer birth in quickbooks? - Add a custom field to the customer
list
How do you change text in the header/footer of a report? - Click the modify report button
on the report and the change the header footer tab
Where can you see a thumbnail sample of each report in quickbooks along with a
description of what the report tells you? - Report center
What transaction in quickbooks should you use if your customer pays you when you
provide the goods or sevices? - Sales receipt
How can you ensure that invoice detail does not appear on a customer statement? -
Uncheck the show invoice item detail on statements box in the create statements window
What is the purpose of backing up in quickbooks? - To protect against data loss from file
corruption or a hard file crash
Which of the following is NOT true regarding merging entries? - quickbooks allows you to
merge an expense account with an Income account
When a transaction is changed, what information does the Audit Trail report provide. - who
changed the transaction?
the date the transaction was changed
Complete Solution
Why would you hide or collapse sub accounts on a report? - To temporarily hide
unnecessary detail and hide parent accounts
What should you do after you click save & close on a customer credit memo? - Choose
between retained as an available credit, give a refund or apply to an invoice
Which of the following CAN be memorized in quickbooks? - check
Which is NOT shown on the payroll summary report on quickbooks? - information
necessary to complete your state unemployment tax form
The bank notified you that a customer's check you deposited has bounced. The customer
did not have sufficient funds to cover the check. What should you do? - Record a
transaction to show the customer owes you the money and that the checking balance
decreased by that same amount
Suppose you always want all reports to show a specific size and color,how do you set
standard preference in quickbooks so you don't have to customize each report? - Click the
edit menu and select preferences then click the reports and graphs group to set
preferences
Suppose you want to restrict which users can access customer credit card numbers. How
do you do this? - Give the user access to sales and accounts receivable but do not check the
complete credit card numbers
Which of the following is a possible reason for a bank reconciliation discrepancy? - The
beginning balance calculated by quickbooks does not match last months ending balance
which of the following statements is TRUE regarding Undeposited funds? - It is an account
used to record payments before you make a deposit
Which accounts are affected when you enter Time in quickbooks? - Accounts receivable
Workers who require a W2 tax form at the end of the year should be added to which of the
following lists? - Employee
If you have customized report that you use each month, which feature lets you run the -
Memorize Report
What is the primary reason for setting a closing date in Quickbooks? - To restrict users
from deleting, editing or adding transactions to last year
, Your new employee earned an annual salary of $40,000. How do you enter this into
quickbooks? - Enter 40,000 in the payroll info window
What steps must you complete to use the payroll center to pay payroll liabilities - set
deposit frequencies
Name the section of the balance sheet - Assets, Liabilities, Equity
When you create a new company file, quickbooks asks for your start date. What is the best
definition of the start date in quickbooks? - The day you chose to start recording the
finacial records in quickbooks
Which of the following statements is NOT true regarding entering and paying bills in
quickbooks? - If you use the enter bills window to record a bill, do not use the write checks
window or check register to pay that same bill
How do you use a different forms template when creating a new transaction? (i.e. Invoice) -
Open the form, click the templates drop down list and select the appropriate form
How do you change the report basis, accrual vs. cash for just one report? - Click the modify
report button on the report and then choose accrual or cash on the display pad
How would you track customer birth in quickbooks? - Add a custom field to the customer
list
How do you change text in the header/footer of a report? - Click the modify report button
on the report and the change the header footer tab
Where can you see a thumbnail sample of each report in quickbooks along with a
description of what the report tells you? - Report center
What transaction in quickbooks should you use if your customer pays you when you
provide the goods or sevices? - Sales receipt
How can you ensure that invoice detail does not appear on a customer statement? -
Uncheck the show invoice item detail on statements box in the create statements window
What is the purpose of backing up in quickbooks? - To protect against data loss from file
corruption or a hard file crash
Which of the following is NOT true regarding merging entries? - quickbooks allows you to
merge an expense account with an Income account
When a transaction is changed, what information does the Audit Trail report provide. - who
changed the transaction?
the date the transaction was changed
