Intuit QuickBooks Certification Exam

You've been hired by a company that started in 1911. They've never used QuickBooks. During the EasyStep Interview, what "Start Date" should you use? - Answer- The date you want to begin tracking the company's finances in QuickBooks When setting up a new company through the EasyStep Interview, some company information is optional and some is absolutely required. Which of the following pieces of information does QuickBooks require you to enter? - Answer- Company name Which of the following is NOT a backup option in QuickBooks? - Answer- Removes all transactions while leaving lists, preferences, and service subscriptions intact. If you choose to "Remove Transactions as of a specific date" from the "Clean Up Company Data" window, what does QuickBooks do? - Answer- Removes all transactions while leaving lists, preferences, and service subscriptions intact. What do the diamonds mean on certain lists (for example, the diamonds to the left of each Customer:Job)? - Answer- You can click on the diamond and move the list entry to a different location on the list. What is the maximum number of names that can be included on the Names lists in QuickBooks Pro or Premier? - Answer- 14,500 What item type should you use for inventory that you assemble from other items and then sell? - Answer- Inventory Assembly Which of the following statements is true concerning items? - Answer- You can use one item to represent different services or goods, Items allow you to track your sales in more detail without cluttering your Chart of Accounts or Profit & Loss, and To create an invoice, you must use an item. When should you create an invoice in QuickBooks? - Answer- When a customer purchases goods or services but does not pay you at the time of the sale When should you use a Sales Receipt in QuickBooks? - Answer- To record a customer payment at the time of sale How do you track accounts payable in QuickBooks? - Answer- Enter a bill, and then use the Pay Bills window. What transaction/form do you begin with to enter a vendor credit? - Answer- Enter Bill Whe